Convergence Investment Partners LLC Buys 9,051 Shares of Edison International $EIX

Convergence Investment Partners LLC grew its stake in Edison International (NYSE:EIX) by 33.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,068 shares of the utilities provider’s stock after acquiring an additional 9,051 shares during the period. Convergence Investment Partners LLC’s holdings in Edison International were worth $2,165,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Activest Wealth Management grew its stake in Edison International by 677.8% in the 3rd quarter. Activest Wealth Management now owns 560 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 488 shares in the last quarter. CVA Family Office LLC grew its stake in Edison International by 113.7% in the 3rd quarter. CVA Family Office LLC now owns 577 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 307 shares in the last quarter. Ransom Advisory Ltd grew its stake in Edison International by 74.9% in the 4th quarter. Ransom Advisory Ltd now owns 605 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 259 shares in the last quarter. Quent Capital LLC bought a new position in Edison International in the 3rd quarter worth about $40,000. Finally, Ameriflex Group Inc. grew its stake in Edison International by 100.0% in the 3rd quarter. Ameriflex Group Inc. now owns 742 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 371 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. upped their target price on shares of Edison International from $75.00 to $76.00 and gave the stock a “neutral” rating in a research note on Friday. Truist Financial assumed coverage on shares of Edison International in a research note on Monday, April 20th. They set a “hold” rating and a $82.00 price objective on the stock. Jefferies Financial Group dropped their price objective on shares of Edison International from $59.00 to $54.00 and set a “hold” rating on the stock in a research note on Wednesday, January 28th. Weiss Ratings upgraded shares of Edison International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, April 15th. Finally, Wells Fargo & Company reiterated an “underweight” rating and set a $62.00 price objective on shares of Edison International in a research note on Tuesday, April 21st. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Edison International presently has an average rating of “Hold” and a consensus target price of $72.91.

Insiders Place Their Bets

In other Edison International news, Director Peter J. Taylor sold 500 shares of the firm’s stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $75.30, for a total value of $37,650.00. Following the completion of the sale, the director directly owned 34,212 shares in the company, valued at $2,576,163.60. This trade represents a 1.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is currently owned by company insiders.

Edison International Price Performance

NYSE EIX opened at $69.27 on Friday. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.68 and a current ratio of 0.74. The firm’s 50 day moving average price is $71.20 and its 200-day moving average price is $65.02. Edison International has a 52-week low of $47.73 and a 52-week high of $76.21. The company has a market cap of $26.65 billion, a PE ratio of 7.52, a P/E/G ratio of 1.23 and a beta of 0.68.

Edison International (NYSE:EIX) last released its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.10. The firm had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.15 billion. Edison International had a net margin of 19.27% and a return on equity of 14.56%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the firm earned $1.37 earnings per share. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. Sell-side analysts forecast that Edison International will post 6.12 EPS for the current fiscal year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Tuesday, April 7th were paid a $0.8775 dividend. This represents a $3.51 annualized dividend and a yield of 5.1%. The ex-dividend date was Tuesday, April 7th. Edison International’s dividend payout ratio (DPR) is 38.11%.

About Edison International

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.