168,606 Shares in Edison International $EIX Purchased by Bank of Nova Scotia

Bank of Nova Scotia acquired a new stake in shares of Edison International (NYSE:EIX - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 168,606 shares of the utilities provider's stock, valued at approximately $12,553,000.

Other large investors have also modified their holdings of the company. Allworth Financial LP bought a new stake in shares of Edison International in the 2nd quarter worth about $2,586,000. Goldman Sachs Group Inc. boosted its position in Edison International by 41.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,496,907 shares of the utilities provider's stock valued at $329,924,000 after buying an additional 1,609,847 shares in the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new position in Edison International in the first quarter valued at about $1,503,000. Del Sette Capital Management LLC acquired a new position in Edison International in the first quarter valued at about $3,275,000. Finally, Pinebridge Investments LLC bought a new stake in Edison International during the fourth quarter worth about $46,548,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Price Performance

Edison International stock opened at $73.97 on Tuesday. Edison International has a 1 year low of $52.00 and a 1 year 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 has a market capitalization of $28.46 billion, a P/E ratio of 7.63, a PEG ratio of 5.56 and a beta of 0.66. The business has a 50-day moving average of $74.17 and a 200-day moving average of $72.14.

Edison International (NYSE:EIX - Get Free Report) last posted its earnings results on Thursday, July 30th. The utilities provider reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.36. The company had revenue of $4.36 billion for the quarter, compared to analyst estimates of $4.82 billion. Edison International had a net margin of 20.30% and a return on equity of 15.53%. The business's revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period last year, the business posted $0.97 earnings per share. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. On average, equities analysts anticipate that Edison International will post 6.13 EPS for the current year.

Edison International Dividend Announcement

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

Wall Street Analyst Weigh In

EIX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price objective on Edison International from $75.00 to $76.00 and gave the stock a "neutral" rating in a research note on Friday, May 15th. Truist Financial reduced their price target on shares of Edison International from $81.00 to $77.00 and set a "hold" rating on the stock in a research report on Tuesday, August 4th. Morgan Stanley decreased their price objective on shares of Edison International from $69.00 to $65.00 and set an "underweight" rating on the stock in a report on Friday. Mizuho raised 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. Finally, Barclays reissued an "equal weight" rating and issued a $75.00 target price (down from $78.00) on shares of Edison International in a research note 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 issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price 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.

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