Edison International (NYSE:EIX) Hits New 52-Week High - Here's What Happened

Key Points

• Edison International shares hit a new 52-week high on Monday, reaching $77.02 before settling around $76.30, as the stock traded on solid volume.
• Recent analyst commentary was mixed, with several firms trimming price targets or downgrading the stock, leaving Edison International with an overall Hold consensus and an average price target of $72.64.
• The utility reported better-than-expected quarterly earnings of $1.42 per share and recently announced a quarterly dividend of $0.8775 per share, implying a 4.6% annual yield.

Edison International (NYSE:EIX - Get Free Report) shares hit a new 52-week high on Monday . The company traded as high as $77.02 and last traded at $76.3010, with a volume of 383239 shares changing hands. The stock had previously closed at $75.20.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on EIX. Truist Financial cut their price objective on shares of Edison International from $82.00 to $79.00 and set a "hold" rating on the stock in a report on Monday, May 18th. Seaport Research Partners downgraded Edison International from a "buy" rating to a "neutral" rating in a research note on Monday, April 20th. Barclays decreased their price target 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. Weiss Ratings upgraded Edison International from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, April 15th. Finally, Morgan Stanley restated an "underweight" rating on shares of Edison International in a report on Wednesday, June 24th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $72.64.

Edison International Trading Up 1.1%

The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.68 and a current ratio of 0.74. The company has a market cap of $29.26 billion, a price-to-earnings ratio of 8.26, a P/E/G ratio of 1.30 and a beta of 0.66. The company's fifty day moving average is $71.91 and its two-hundred day moving average is $69.20.

Edison International (NYSE:EIX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.10. The company had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.15 billion. Edison International had a return on equity of 14.56% and a net margin of 19.27%.The firm's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the firm earned $1.37 EPS. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. On average, research analysts anticipate that Edison International will post 6.12 EPS for the current year.

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, July 7th will be given a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a yield of 4.6%. The ex-dividend date is Tuesday, July 7th. Edison International's dividend payout ratio (DPR) is currently 38.11%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of EIX. Bank & Trust Co grew its position in shares of Edison International by 12.4% during the 2nd quarter. Bank & Trust Co now owns 6,285 shares of the utilities provider's stock valued at $468,000 after acquiring an additional 693 shares during the period. Tema ETFs LLC increased its stake in shares of Edison International by 10.3% in the 2nd quarter. Tema ETFs LLC now owns 7,766 shares of the utilities provider's stock valued at $578,000 after purchasing an additional 725 shares in the last quarter. KWB Wealth raised its holdings in Edison International by 25.3% in the 2nd quarter. KWB Wealth now owns 16,824 shares of the utilities provider's stock worth $1,253,000 after purchasing an additional 3,401 shares during the period. 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 worth $226,000 after purchasing an additional 181 shares during the period. Finally, Finivi Inc. boosted its position in Edison International by 11.6% during the second quarter. Finivi Inc. now owns 3,615 shares of the utilities provider's stock worth $269,000 after purchasing an additional 377 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company's stock.

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.

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