Sequoia Financial Advisors LLC Increases Stake in Edison International $EIX

Sequoia Financial Advisors LLC raised its position in shares of Edison International (NYSE:EIX) by 36.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 41,760 shares of the utilities provider’s stock after purchasing an additional 11,131 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Edison International were worth $3,109,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. California State Teachers Retirement System lifted its stake in shares of Edison International by 7,943.7% in the second quarter. California State Teachers Retirement System now owns 54,771,153 shares of the utilities provider’s stock worth $4,077,712,000 after buying an additional 54,090,230 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Edison International during the second quarter valued at approximately $3,340,412,000. AQR Capital Management LLC raised its holdings in Edison International by 69.9% in the 4th quarter. AQR Capital Management LLC now owns 18,285,152 shares of the utilities provider’s stock worth $1,097,475,000 after acquiring an additional 7,521,168 shares during the last quarter. Norges Bank purchased a new position in Edison International in the 4th quarter worth approximately $339,311,000. Finally, Legal & General Group Plc bought a new position in Edison International in the 2nd quarter valued at approximately $329,766,000. 88.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EIX has been the topic of several recent analyst reports. Barclays reiterated an “equal weight” rating and set a $75.00 target price (down from $78.00) on shares of Edison International in a research note on Friday, July 31st. Bank of America cut Edison International from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $81.00 to $51.00 in a research note on Tuesday, September 1st. UBS Group lowered their price target on Edison International from $75.00 to $63.00 and set a “neutral” rating on the stock in a report on Tuesday, September 1st. Truist Financial dropped their price objective on Edison International from $77.00 to $63.00 and set a “hold” rating on the stock in a research report on Thursday, September 3rd. Finally, Argus reiterated a “hold” rating on shares of Edison International in a report on Wednesday, August 26th. One equities research analyst has rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Edison International presently has a consensus rating of “Reduce” and a consensus price target of $64.55.

Edison International Trading Down 1.2%

Shares of EIX stock opened at $56.05 on Friday. Edison International has a 12-month low of $52.00 and a 12-month high of $81.62. 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 firm’s 50 day moving average is $70.77 and its 200 day moving average is $71.45. The stock has a market capitalization of $21.57 billion, a P/E ratio of 5.78, a P/E/G ratio of 2.25 and a beta of 0.62.

Edison International (NYSE:EIX) last posted its earnings results on Thursday, July 30th. The utilities provider reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.36. The business had revenue of $4.36 billion during the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm posted $0.97 EPS. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. Research analysts expect that Edison International will post 6.13 earnings per share for the current year.

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, July 7th were issued a $0.8775 dividend. The ex-dividend date of this dividend was Tuesday, July 7th. This represents a $3.51 annualized dividend and a dividend yield of 6.3%. Edison International’s payout ratio is presently 36.19%.

Edison International Profile

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.