California State Teachers Retirement System boosted its holdings in Edison International (NYSE:EIX – Free Report) by 7,943.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,771,153 shares of the utilities provider’s stock after buying an additional 54,090,230 shares during the quarter. California State Teachers Retirement System owned approximately 0.14% of Edison International worth $4,077,712,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the business. Edmond DE Rothschild Holding S.A. acquired a new position in Edison International in the 2nd quarter valued at approximately $26,000. Groupe la Francaise acquired a new position in shares of Edison International during the first quarter worth $29,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Edison International during the second quarter worth $30,000. Bell Investment Advisors Inc bought a new stake in shares of Edison International in the second quarter worth $31,000. Finally, 10Elms LLP acquired a new stake in Edison International in the fourth quarter valued at $26,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
EIX has been the subject of several analyst reports. JPMorgan Chase & Co. lowered their target price on Edison International from $82.00 to $61.00 and set a “neutral” rating for the company in a research report on Wednesday, September 2nd. UBS Group lowered their price objective on Edison International from $75.00 to $63.00 and set a “neutral” rating for the company in a research report on Tuesday, September 1st. Bank of America lowered Edison International from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $81.00 to $51.00 in a research note on Tuesday, September 1st. Morgan Stanley decreased their target price on shares of Edison International from $69.00 to $65.00 and set an “underweight” rating for the company in a research report on Friday, August 21st. Finally, Barclays restated an “equal weight” rating and set a $75.00 price target (down from $78.00) on shares of Edison International in a report on Friday, July 31st. Two equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Edison International has an average rating of “Reduce” and an average price target of $64.55.
Edison International Stock Performance
EIX stock opened at $56.68 on Friday. The firm has a market cap of $21.81 billion, a PE ratio of 5.84, a price-to-earnings-growth ratio of 2.31 and a beta of 0.62. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 1.95. The stock has a 50-day moving average price of $71.16 and a 200-day moving average price of $71.56. Edison International has a 1-year low of $52.00 and a 1-year high of $81.62.
Edison International (NYSE:EIX – Get Free Report) last announced 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. Edison International had a return on equity of 15.53% and a net margin of 20.30%.The company had revenue of $4.36 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the prior year, the company earned $0.97 EPS. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. As a group, equities research analysts expect that Edison International will post 6.13 earnings per share for the current year.
Edison International Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, July 7th were paid a $0.8775 dividend. The ex-dividend date of this dividend was Tuesday, July 7th. This represents a $3.51 annualized dividend and a yield of 6.2%. Edison International’s payout ratio is 36.19%.
About Edison International
Edison International (NYSE: EIX) is a holding company focused on electric power generation, transmission and distribution, as well as clean-energy solutions. Its principal subsidiary, Southern California Edison (SCE), is a regulated electric utility that delivers electricity to residential, commercial, industrial and public-sector customers.
SCE operates one of the largest electric utility systems in the United States, serving communities across central, coastal and Southern California.
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