22,745 Shares in Edison International $EIX Purchased by Westpac Banking Corp

Westpac Banking Corp acquired a new position in Edison International (NYSE:EIX) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 22,745 shares of the utilities provider’s stock, valued at approximately $1,693,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in EIX. Avior Wealth Management LLC boosted its stake in shares of Edison International by 4.7% in the second quarter. Avior Wealth Management LLC now owns 2,956 shares of the utilities provider’s stock valued at $220,000 after buying an additional 134 shares during the period. Equitable Trust Co. increased its stake in Edison International by 0.8% during the 1st quarter. Equitable Trust Co. now owns 19,616 shares of the utilities provider’s stock worth $1,435,000 after acquiring an additional 148 shares during the period. Altshuler Shaham Ltd increased its stake in Edison International by 36.6% during the 1st quarter. Altshuler Shaham Ltd now owns 578 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 155 shares during the period. UMB Bank n.a. raised its holdings in Edison International by 5.3% in the 4th quarter. UMB Bank n.a. now owns 3,169 shares of the utilities provider’s stock valued at $190,000 after acquiring an additional 159 shares in the last quarter. Finally, Paladin Wealth LLC raised its holdings in Edison International by 6.3% in the 2nd quarter. Paladin Wealth LLC now owns 3,035 shares of the utilities provider’s stock valued at $226,000 after acquiring an additional 181 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Truist Financial reduced their target price on Edison International from $81.00 to $77.00 and set a “hold” rating on the stock in a report on Tuesday, August 4th. JPMorgan Chase & Co. upped their price objective on shares of Edison International from $75.00 to $76.00 and gave the stock a “neutral” rating in a research report on Friday, May 15th. Barclays reiterated an “equal weight” rating and set a $75.00 price objective (down from $78.00) on shares of Edison International in a research note on Friday, July 31st. Mizuho raised their target price 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. Finally, 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. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Edison International has an average rating of “Hold” and a consensus price target of $72.45.

Edison International Stock Down 4.2%

EIX stock opened at $71.51 on Friday. The stock has a market capitalization of $27.52 billion, a P/E ratio of 7.37, a price-to-earnings-growth ratio of 5.56 and a beta of 0.66. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 1.95. Edison International has a 12 month low of $52.00 and a 12 month high of $81.62. The firm has a 50-day moving average price of $74.13 and a 200-day moving average price of $71.97.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Thursday, July 30th. The utilities provider reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.36. The company had revenue of $4.36 billion for the quarter, compared to analyst estimates of $4.82 billion. Edison International had a net margin of 20.30% and a return on equity of 15.53%. The firm’s revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.97 EPS. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. As a group, equities research analysts anticipate that Edison International will post 6.13 EPS for the current fiscal year.

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, July 7th were paid a dividend of $0.8775 per share. This represents a $3.51 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend was Tuesday, July 7th. Edison International’s payout ratio is presently 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.