Norges Bank Takes Position in Edison International $EIX

Norges Bank purchased a new stake in Edison International (NYSE:EIX) in the fourth quarter, HoldingsChannel reports. The firm purchased 5,653,304 shares of the utilities provider’s stock, valued at approximately $339,311,000.

A number of other institutional investors and hedge funds also recently modified their holdings of EIX. Ransom Advisory Ltd increased its stake in shares of Edison International by 74.9% in the 4th quarter. Ransom Advisory Ltd now owns 605 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 259 shares during the last quarter. Ameriflex Group Inc. increased its stake in Edison International by 100.0% during the 3rd quarter. Ameriflex Group Inc. now owns 742 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 371 shares in the last quarter. Quest 10 Wealth Builders Inc. increased its stake in Edison International by 866.7% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 783 shares of the utilities provider’s stock worth $47,000 after purchasing an additional 702 shares in the last quarter. MUFG Securities EMEA plc bought a new stake in Edison International during the 2nd quarter worth approximately $59,000. Finally, SBI Securities Co. Ltd. increased its stake in Edison International by 90.0% during the 3rd quarter. SBI Securities Co. Ltd. now owns 1,214 shares of the utilities provider’s stock worth $67,000 after purchasing an additional 575 shares in the last quarter. 88.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

EIX has been the subject of a number of research reports. Wall Street Zen cut Edison International from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Weiss Ratings raised Edison International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, April 15th. Seaport Research Partners cut Edison International from a “buy” rating to a “neutral” rating in a research note on Monday, April 20th. Truist Financial lowered their target price on Edison International from $82.00 to $79.00 and set a “hold” rating for the company in a research note on Monday, May 18th. Finally, Barclays lowered their target price on Edison International from $78.00 to $77.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $72.64.

Edison International Stock Performance

Shares of EIX stock opened at $69.20 on Tuesday. The company’s fifty day simple moving average is $70.90 and its 200-day simple moving average is $66.17. The company has a quick ratio of 0.68, a current ratio of 0.74 and a debt-to-equity ratio of 1.98. The firm has a market cap of $26.63 billion, a PE ratio of 7.51, a P/E/G ratio of 1.21 and a beta of 0.67. Edison International has a 12 month low of $47.73 and a 12 month high of $76.21.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.10. The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.15 billion. Edison International had a net margin of 19.27% and a return on equity of 14.56%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.37 earnings per share. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. Equities research analysts expect that Edison International will post 6.12 EPS for the current fiscal year.

Insider Activity at Edison International

In other news, Director Peter J. Taylor sold 500 shares of the business’s stock in a transaction on Monday, April 13th. The shares were sold at an average price of $75.30, for a total value of $37,650.00. Following the sale, the director owned 34,212 shares of the company’s stock, valued at $2,576,163.60. The trade was a 1.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is currently owned by corporate insiders.

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.