Bank of America Corp DE Takes $150.46 Million Position in Edison International $EIX

Key Points

• Bank of America acquired 2.02 million Edison International shares in the second quarter, valued at approximately $150.5 million and representing about 0.53% of the company.
• Analysts have broadly turned more cautious, with multiple firms cutting price targets. Edison International has a consensus “Reduce” rating and an average target of $64.45.
• Edison International reported quarterly EPS of $1.54, exceeding estimates, and maintains an annualized dividend of $3.51 per share, yielding approximately 6.3%.

Bank of America Corp DE bought a new position in shares of Edison International (NYSE:EIX - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 2,020,983 shares of the utilities provider's stock, valued at approximately $150,462,000. Bank of America Corp DE owned approximately 0.53% of Edison International as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the business. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Edison International in the 2nd quarter valued at $26,000. Groupe la Francaise purchased a new stake in Edison International in the first quarter valued at $29,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Edison International in the second quarter valued at $30,000. Bell Investment Advisors Inc acquired a new position in Edison International in the second quarter valued at $31,000. Finally, 10Elms LLP purchased a new position in shares of Edison International during the fourth quarter worth about $26,000. Hedge funds and other institutional investors own 88.95% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on EIX. Morgan Stanley cut their target price on Edison International from $69.00 to $65.00 and set an "underweight" rating on the stock in a research report on Friday, August 21st. JPMorgan Chase & Co. decreased their target price on Edison International from $82.00 to $61.00 and set a "neutral" rating for the company in a research report on Wednesday, September 2nd. Argus restated a "hold" rating on shares of Edison International in a research note on Wednesday, August 26th. Mizuho reaffirmed a "neutral" rating and set a $70.00 price target (down from $86.00) on shares of Edison International in a research report on Monday, August 31st. Finally, UBS Group reduced their price objective on Edison International from $75.00 to $63.00 and set a "neutral" rating for the company in a research note on Tuesday, September 1st. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Edison International currently has a consensus rating of "Reduce" and a consensus price target of $64.45.

Edison International Trading Up 1.3%

Shares of EIX stock opened at $55.52 on Friday. The company has a market capitalization of $21.37 billion, a P/E ratio of 5.72, a price-to-earnings-growth ratio of 2.21 and a beta of 0.62. 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 business's 50 day moving average is $69.19 and its two-hundred day moving average is $70.87. Edison International has a twelve month low of $52.00 and a twelve month high of $81.62.

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

Edison International Announces Dividend

The company also recently announced 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 6.3%. The ex-dividend date was Tuesday, July 7th. Edison International's dividend payout ratio (DPR) is 36.19%.

About Edison International

Edison International NYSE: EIX is a holding company focused on electric power generation, transmission and distribution, as well as clean-energy solutions. Its principal subsidiary, Southern California Edison (SCE), is a regulated electric utility that delivers electricity to residential, commercial, industrial and public-sector customers.

SCE operates one of the largest electric utility systems in the United States, serving communities across central, coastal and Southern California.

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