Ategra Capital Management LLC Takes $2.75 Million Position in Edison International $EIX

Ategra Capital Management LLC bought a new stake in shares of Edison International (NYSE:EIX - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 36,930 shares of the utilities provider's stock, valued at approximately $2,749,000. Edison International makes up approximately 1.2% of Ategra Capital Management LLC's holdings, making the stock its 18th biggest position.

Several other hedge funds also recently bought and sold shares of the company. Avior Wealth Management LLC lifted its holdings in Edison International by 4.7% in the 2nd quarter. Avior Wealth Management LLC now owns 2,956 shares of the utilities provider's stock worth $220,000 after purchasing an additional 134 shares in the last quarter. Equitable Trust Co. grew its holdings in Edison International by 0.8% during the 1st quarter. Equitable Trust Co. now owns 19,616 shares of the utilities provider's stock valued at $1,435,000 after buying an additional 148 shares in the last quarter. Altshuler Shaham Ltd grew its holdings in Edison International by 36.6% during the 1st quarter. Altshuler Shaham Ltd now owns 578 shares of the utilities provider's stock valued at $42,000 after buying an additional 155 shares in the last quarter. UMB Bank n.a. raised its position in shares of Edison International by 5.3% during the fourth quarter. UMB Bank n.a. now owns 3,169 shares of the utilities provider's stock valued at $190,000 after buying an additional 159 shares during the last quarter. Finally, Paladin Wealth LLC raised its position in shares of Edison International by 6.3% during the second quarter. Paladin Wealth LLC now owns 3,035 shares of the utilities provider's stock valued at $226,000 after buying an additional 181 shares during the last quarter. Institutional investors own 88.95% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on EIX shares. Mizuho upped their target price on shares of Edison International from $79.00 to $86.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. Morgan Stanley reduced their price target on shares of Edison International from $69.00 to $65.00 and set an "underweight" rating on the stock in a report on Friday. Weiss Ratings cut shares of Edison International from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, August 12th. JPMorgan Chase & Co. increased their price objective on shares of Edison International from $75.00 to $76.00 and gave the company a "neutral" rating in a report on Friday, May 15th. Finally, Truist Financial cut their price objective on Edison International from $81.00 to $77.00 and set a "hold" rating for the company in a research report on Tuesday, August 4th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $72.45.

Edison International Trading Up 3.3%

EIX stock opened at $73.97 on Tuesday. The firm has a fifty day moving average price of $74.17 and a 200 day moving average price of $72.14. Edison International has a fifty-two week low of $52.00 and a fifty-two week high of $81.62. The firm has a market cap of $28.46 billion, a PE ratio of 7.63, a price-to-earnings-growth ratio of 5.56 and a beta of 0.66. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.61 and a current ratio of 0.66.

Edison International (NYSE:EIX - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The utilities provider reported $1.54 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.36 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the prior year, the firm earned $0.97 earnings per share. Edison International's revenue was down 4.1% on a year-over-year basis. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. Sell-side analysts anticipate that Edison International will post 6.13 earnings per share for the current fiscal year.

Edison International Announces Dividend

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

Edison International 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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