OMERS ADMINISTRATION Corp Makes New Investment in Edison International $EIX

OMERS ADMINISTRATION Corp bought a new stake in shares of Edison International (NYSE:EIX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 64,427 shares of the utilities provider’s stock, valued at approximately $4,797,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of EIX. Vanguard Group Inc. lifted its holdings in Edison International by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 52,220,399 shares of the utilities provider’s stock valued at $3,134,268,000 after acquiring an additional 480,726 shares during the period. BlackRock Inc. bought a new stake in shares of Edison International during the 2nd quarter valued at about $3,340,412,000. State Street Corp increased its position in shares of Edison International by 3.0% during the 4th quarter. State Street Corp now owns 33,141,204 shares of the utilities provider’s stock valued at $1,989,135,000 after purchasing an additional 953,800 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Edison International by 69.9% during the 4th quarter. AQR Capital Management LLC now owns 18,285,152 shares of the utilities provider’s stock valued at $1,097,475,000 after purchasing an additional 7,521,168 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Edison International by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 13,018,379 shares of the utilities provider’s stock worth $803,407,000 after purchasing an additional 386,905 shares during the period. 88.95% of the stock is owned by institutional investors.

Edison International Price Performance

NYSE:EIX opened at $73.97 on Tuesday. The business’s 50-day simple moving average is $74.17 and its two-hundred day simple moving average is $72.14. The stock has a market cap of $28.46 billion, a PE ratio of 7.63, a P/E/G ratio of 5.56 and a beta of 0.66. Edison International has a 52 week low of $52.00 and a 52 week high of $81.62. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 1.95.

Edison International (NYSE:EIX) last posted its quarterly 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. 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 analysts’ expectations of $4.82 billion. During the same period in the previous year, the firm earned $0.97 EPS. The firm’s revenue 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, analysts forecast that Edison International will post 6.13 EPS for the current fiscal year.

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, July 7th were given a $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date was Tuesday, July 7th. Edison International’s payout ratio is currently 36.19%.

Analyst Upgrades and Downgrades

EIX has been the topic of a number of research reports. Truist Financial dropped their price objective on shares of Edison International from $81.00 to $77.00 and set a “hold” rating on the stock in a report on Tuesday, August 4th. Morgan Stanley reduced their target price on shares of Edison International from $69.00 to $65.00 and set an “underweight” rating for the company in a report on Friday. Barclays reiterated an “equal weight” rating and issued a $75.00 price target (down from $78.00) on shares of Edison International in a research report on Friday, July 31st. JPMorgan Chase & Co. lifted their price target on shares of Edison International from $75.00 to $76.00 and gave the stock a “neutral” rating in a research note on Friday, May 15th. Finally, Mizuho boosted their price objective on shares of Edison International from $79.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Edison International presently has a consensus rating of “Hold” and an average price target of $72.45.

About Edison International

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.