Perigon Wealth Management LLC Buys Shares of 12,675 Edison International $EIX

Perigon Wealth Management LLC purchased a new stake in Edison International (NYSE:EIX) during the second quarter, Holdings Channel reports. The institutional investor purchased 12,675 shares of the utilities provider’s stock, valued at approximately $944,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Commerzbank Aktiengesellschaft FI acquired a new stake in Edison International in the second quarter worth $278,000. Focused Wealth Management Inc acquired a new position in shares of Edison International in the 2nd quarter valued at $365,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Edison International in the 2nd quarter valued at $68,981,000. OneDigital Investment Advisors LLC bought a new stake in shares of Edison International in the 2nd quarter valued at $287,000. Finally, Plato Investment Management Ltd bought a new stake in shares of Edison International in the 2nd quarter valued at $2,784,000. Institutional investors own 88.95% of the company’s stock.

Edison International Trading Up 3.4%

NYSE EIX opened at $73.73 on Wednesday. The company has a market cap of $28.37 billion, a PE ratio of 7.60, a PEG ratio of 5.54 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 stock has a 50 day moving average of $74.08 and a 200-day moving average of $71.81.

Edison International (NYSE:EIX) last released its quarterly earnings data 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 net margin of 20.30% and a return on equity of 15.53%. The firm had revenue of $4.36 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same period in the previous year, the business posted $0.97 earnings per share. The company’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. On average, equities research analysts anticipate that Edison International will post 6.13 EPS for the current fiscal year.

Edison International Dividend Announcement

The company also recently disclosed 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 yield of 4.8%. The ex-dividend date was Tuesday, July 7th. Edison International’s dividend payout ratio is presently 36.19%.

Analyst Upgrades and Downgrades

EIX has been the topic of a number of research analyst reports. Weiss Ratings lowered Edison International from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, August 12th. JPMorgan Chase & Co. increased their target price on Edison International from $75.00 to $76.00 and gave the stock a “neutral” rating in a research note on Friday, May 15th. Morgan Stanley restated an “underweight” rating and set a $69.00 target price on shares of Edison International in a report on Wednesday, July 22nd. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $62.00 price target on shares of Edison International in a research note on Tuesday, April 21st. Finally, Mizuho lifted their price target on shares of Edison International from $79.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Three investment 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. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $72.82.

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.