Redwood Investment Management LLC acquired a new stake in Edison International (NYSE:EIX – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 11,905 shares of the utilities provider’s stock, valued at approximately $886,000.
Several other institutional investors have also recently added to or reduced their stakes in the business. 10Elms LLP acquired a new stake in Edison International in the 4th quarter worth about $26,000. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Edison International during the 2nd quarter valued at about $26,000. Transamerica Financial Advisors LLC increased its stake in shares of Edison International by 170.3% during the 4th quarter. Transamerica Financial Advisors LLC now owns 446 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 281 shares during the last quarter. Groupe la Francaise purchased a new position in shares of Edison International during the 1st quarter worth about $29,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Edison International during the 2nd quarter worth about $30,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on the stock. Barclays restated an “equal weight” rating and issued a $75.00 target price (down from $78.00) on shares of Edison International in a report on Friday, July 31st. Weiss Ratings downgraded shares of Edison International from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, August 12th. Mizuho lifted 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. Truist Financial lowered their price objective on shares of Edison International from $81.00 to $77.00 and set a “hold” rating for the company in a research note on Tuesday, August 4th. Finally, Morgan Stanley dropped their price objective on Edison International from $69.00 to $65.00 and set an “underweight” rating for the company in a report on Friday, August 21st. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $72.45.
Edison International Trading Down 1.2%
NYSE EIX opened at $73.59 on Friday. Edison International has a one year low of $52.00 and a one year high of $81.62. The company’s 50 day moving average price is $74.34 and its 200 day moving average price is $72.37. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.61 and a current ratio of 0.66. The firm has a market capitalization of $28.32 billion, a price-to-earnings ratio of 7.59, a PEG ratio of 5.79 and a beta of 0.66.
Edison International (NYSE:EIX – Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The utilities provider reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.36. Edison International had a net margin of 20.30% and a return on equity of 15.53%. The company had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the previous year, the firm earned $0.97 earnings per share. Edison International’s revenue for the quarter was down 4.1% on a year-over-year basis. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. On average, sell-side analysts predict that Edison International will post 6.13 EPS for the current year.
Edison International Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, July 7th were issued a $0.8775 dividend. This represents a $3.51 annualized dividend and a yield of 4.8%. The ex-dividend date was Tuesday, July 7th. Edison International’s dividend payout ratio is currently 36.19%.
Edison International Company Profile
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.
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