Elevation Point Wealth Partners LLC bought a new stake in Edison International (NYSE:EIX – Free Report) during the second quarter, HoldingsChannel.com reports. The fund bought 16,010 shares of the utilities provider’s stock, valued at approximately $1,192,000.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Edmond DE Rothschild Holding S.A. purchased a new position in Edison International in the second quarter valued at about $26,000. Groupe la Francaise acquired a new position in shares of Edison International during the first quarter worth about $29,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Edison International in the second quarter worth about $30,000. Bell Investment Advisors Inc purchased a new stake in shares of Edison International in the second quarter worth about $31,000. Finally, 10Elms LLP acquired a new stake in shares of Edison International in the fourth quarter valued at about $26,000. 88.95% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities analysts recently commented on EIX shares. Barclays reissued an “equal weight” rating and set a $75.00 price target (down from $78.00) on shares of Edison International in a research report on Friday, July 31st. Morgan Stanley dropped their price objective on shares of Edison International from $69.00 to $65.00 and set an “underweight” rating on the stock in a research note on Friday. Weiss Ratings cut shares of Edison International from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, August 12th. JPMorgan Chase & Co. upped their target price on shares of Edison International from $75.00 to $76.00 and gave the company a “neutral” rating in a research note on Friday, May 15th. Finally, Mizuho raised their price target on shares of Edison International from $79.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Edison International currently has a consensus rating of “Hold” and an average target price of $72.45.
Edison International Price Performance
Shares of NYSE EIX opened at $71.51 on Monday. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 1.95. Edison International has a fifty-two week low of $52.00 and a fifty-two week high of $81.62. The business has a 50 day moving average price of $74.13 and a two-hundred day moving average price of $72.05. The firm has a market cap of $27.52 billion, a PE ratio of 7.37, a price-to-earnings-growth ratio of 5.56 and a beta of 0.66.
Edison International (NYSE:EIX – Get Free Report) last released its earnings results on Thursday, July 30th. The utilities provider reported $1.54 EPS for the quarter, beating the consensus estimate of $1.18 by $0.36. The company had revenue of $4.36 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Edison International had a return on equity of 15.53% and a net margin of 20.30%.The business’s revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.97 EPS. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. Sell-side analysts expect that Edison International will post 6.13 earnings per share for the current fiscal year.
Edison International Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, July 7th were issued a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend was Tuesday, July 7th. Edison International’s dividend payout ratio (DPR) is currently 36.19%.
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.
Further Reading
- Five stocks we like better than Edison International
- VIG, VYM, and VYMI: Which Vanguard Dividend ETF Is Right for You?
- 3 Closed-End Funds to Maximize Dividend Payments
- Rocket Lab’s Sell-Off Is Fading—Is It Finally Safe to Buy?
- $27 Billion in Buybacks: 3 Stocks Betting Their Strong Runs Aren’t Over
Want to see what other hedge funds are holding EIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Edison International (NYSE:EIX – Free Report).
Receive News & Ratings for Edison International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edison International and related companies with MarketBeat.com's FREE daily email newsletter.
