Bank of New York Mellon Corp Takes Position in Edison International $EIX

Key Points

• Bank of New York Mellon acquired 4.16 million Edison International shares worth approximately $309.4 million, giving it a 1.08% stake. Institutional investors collectively own 88.95% of the utility’s stock.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $72.45; targets range from $75 to $86 among recently reporting firms.
• Edison International beat quarterly earnings expectations with EPS of $1.54 versus the $1.18 consensus, though revenue declined 4.1% year over year. The company pays a quarterly dividend of $0.8775, equivalent to a 4.9% annual yield.

Bank of New York Mellon Corp bought a new position in shares of Edison International (NYSE:EIX - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 4,155,291 shares of the utilities provider's stock, valued at approximately $309,361,000. Bank of New York Mellon Corp owned about 1.08% of Edison International at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in EIX. Goldman Sachs Group Inc. lifted its position in Edison International by 41.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 5,496,907 shares of the utilities provider's stock worth $329,924,000 after acquiring an additional 1,609,847 shares during the last quarter. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Edison International during the first quarter worth approximately $1,503,000. Chicago Partners Investment Group LLC grew its position in shares of Edison International by 128.7% in the fourth quarter. Chicago Partners Investment Group LLC now owns 23,765 shares of the utilities provider's stock valued at $1,444,000 after purchasing an additional 13,375 shares during the last quarter. Del Sette Capital Management LLC acquired a new position in shares of Edison International in the first quarter valued at approximately $3,275,000. Finally, Pinebridge Investments LLC bought a new position in shares of Edison International during the fourth quarter worth approximately $46,548,000. Institutional investors own 88.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on EIX. JPMorgan Chase & Co. boosted their price target on Edison International from $75.00 to $76.00 and gave the company a "neutral" rating in a research note on Friday, May 15th. Weiss Ratings cut Edison International from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, August 12th. Mizuho lifted their target price on Edison International from $79.00 to $86.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Truist Financial decreased 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 note on Tuesday, August 4th. Finally, Barclays reaffirmed an "equal weight" rating and set a $75.00 price target (down from $78.00) on shares of Edison International in a research report on Friday, July 31st. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Edison International has a consensus rating of "Hold" and an average price target of $72.45.

Edison International Stock Performance

Edison International stock opened at $71.51 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 1.95. The stock has a market cap of $27.52 billion, a PE ratio of 7.37, a P/E/G ratio of 5.80 and a beta of 0.66. Edison International has a 12-month low of $52.00 and a 12-month high of $81.62. The business's 50-day moving average price is $74.13 and its two-hundred day moving average price is $71.97.

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

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, July 7th were issued a dividend of $0.8775 per share. The ex-dividend date was Tuesday, July 7th. This represents a $3.51 annualized dividend and a dividend yield of 4.9%. Edison International's dividend payout ratio is 36.19%.

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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