Dimensional Fund Advisors LP Raises Stake in Edison International (NYSE:EIX)

Posted by Defense World Staff on May 24th, 2023

Edison International logo Dimensional Fund Advisors LP increased its stake in Edison International (NYSE:EIX – Get Rating) by 3.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,373,797 shares of the utilities provider’s stock after buying an additional 48,923 shares during the period. Dimensional Fund Advisors LP owned 0.36% of Edison International worth $87,404,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new stake in shares of Edison International during the fourth quarter valued at approximately $32,000. CI Investments Inc. raised its position in Edison International by 980.9% during the 3rd quarter. CI Investments Inc. now owns 508 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 461 shares in the last quarter. Ancora Advisors LLC purchased a new stake in shares of Edison International in the 1st quarter worth $41,000. Lazard Asset Management LLC grew its position in shares of Edison International by 975.7% during the 3rd quarter. Lazard Asset Management LLC now owns 796 shares of the utilities provider’s stock worth $44,000 after buying an additional 722 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Edison International by 112.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 797 shares of the utilities provider’s stock valued at $51,000 after buying an additional 422 shares during the period. Institutional investors own 87.19% of the company’s stock.

Edison International Trading Down 0.5 %

NYSE EIX opened at $67.37 on Wednesday. The stock has a market cap of $25.80 billion, a P/E ratio of 30.76, a P/E/G ratio of 3.68 and a beta of 0.80. The company has a current ratio of 0.86, a quick ratio of 0.80 and a debt-to-equity ratio of 1.89. Edison International has a 12-month low of $54.45 and a 12-month high of $74.92. The company has a fifty day simple moving average of $71.19 and a two-hundred day simple moving average of $67.64.

Edison International (NYSE:EIX – Get Rating) last posted its quarterly earnings results on Tuesday, May 2nd. The utilities provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.05. Edison International had a return on equity of 12.48% and a net margin of 6.12%. The business had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $4 billion. During the same quarter in the previous year, the business earned $1.07 EPS. The company’s quarterly revenue was down .1% compared to the same quarter last year. On average, analysts forecast that Edison International will post 4.72 earnings per share for the current year.

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, April 30th. Stockholders of record on Friday, March 31st were issued a $0.7375 dividend. This represents a $2.95 annualized dividend and a dividend yield of 4.38%. The ex-dividend date of this dividend was Thursday, March 30th. Edison International’s dividend payout ratio (DPR) is currently 134.70%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on EIX shares. Citigroup upped their price objective on shares of Edison International from $79.00 to $86.00 in a research note on Thursday, May 4th. Credit Suisse Group lowered their price target on shares of Edison International from $68.00 to $67.00 and set a “neutral” rating for the company in a research report on Friday, February 24th. Wells Fargo & Company lifted their price objective on shares of Edison International from $73.00 to $77.00 and gave the company an “equal weight” rating in a report on Monday, April 10th. Mizuho upped their target price on Edison International from $67.00 to $73.00 and gave the stock a “neutral” rating in a report on Monday, April 10th. Finally, Guggenheim lifted their price target on Edison International from $75.00 to $81.00 in a report on Wednesday, May 3rd. Three analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $73.08.

Insider Transactions at Edison International

In other Edison International news, SVP J Andrew Murphy sold 22,471 shares of the stock in a transaction dated Wednesday, April 5th. The stock was sold at an average price of $72.03, for a total transaction of $1,618,586.13. Following the sale, the senior vice president now directly owns 12,989 shares of the company’s stock, valued at approximately $935,597.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.03% of the company’s stock.

Edison International Company Profile

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Edison International is a renewable energy company, which through its subsidiaries, generates and distributes electric power, and invests in energy services and technologies. The company was founded on July 4, 1886, and is headquartered in Rosemead, CA.