CoreCap Advisors LLC Increases Stock Position in Edison International $EIX

Key Points

• CoreCap Advisors dramatically increased its Edison International position by 6,356.1% in the second quarter, purchasing 79,705 additional shares for a total holding of 80,959 shares valued at approximately $6.03 million. Institutional investors own 88.95% of the company.
• Analyst sentiment remains mixed, with Edison International carrying an overall “Hold” rating and an average price target of $72.82. Recent target prices range from $62 to $86, including upgrades from Mizuho and reductions from Truist and Barclays.
• Edison International exceeded quarterly earnings expectations, reporting $1.54 in EPS versus the $1.18 consensus estimate, although revenue fell 4.1% year over year to $4.36 billion. The company pays a quarterly dividend of $0.8775, equating to a 5.1% annualized yield.

CoreCap Advisors LLC increased its holdings in shares of Edison International (NYSE:EIX - Free Report) by 6,356.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 80,959 shares of the utilities provider's stock after purchasing an additional 79,705 shares during the period. CoreCap Advisors LLC's holdings in Edison International were worth $6,027,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Equitable Trust Co. lifted its holdings in Edison International by 0.8% during the first quarter. Equitable Trust Co. now owns 19,616 shares of the utilities provider's stock worth $1,435,000 after buying an additional 148 shares during the period. Altshuler Shaham Ltd increased its holdings in shares of Edison International by 36.6% in the 1st quarter. Altshuler Shaham Ltd now owns 578 shares of the utilities provider's stock valued at $42,000 after acquiring an additional 155 shares during the period. UMB Bank n.a. increased its holdings in shares of Edison International by 5.3% in the 4th quarter. UMB Bank n.a. now owns 3,169 shares of the utilities provider's stock valued at $190,000 after acquiring an additional 159 shares during the period. Basecamp Wealth Advisors LLC raised its position in shares of Edison International by 18.1% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 1,190 shares of the utilities provider's stock worth $87,000 after acquiring an additional 182 shares in the last quarter. Finally, Sterling Group Wealth Management LLC raised its position in shares of Edison International by 2.7% in the 1st quarter. Sterling Group Wealth Management LLC now owns 7,213 shares of the utilities provider's stock worth $528,000 after acquiring an additional 190 shares in the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Truist Financial dropped their price objective on Edison International from $81.00 to $77.00 and set a "hold" rating on the stock in a research report on Tuesday. Mizuho boosted their target price on shares of Edison International from $79.00 to $86.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Barclays reiterated an "equal weight" rating and issued a $75.00 target price (down from $78.00) on shares of Edison International in a report on Friday, July 31st. Morgan Stanley reissued an "underweight" rating and set a $69.00 price target on shares of Edison International in a research report on Wednesday, July 22nd. Finally, Wells Fargo & Company restated an "underweight" rating and issued a $62.00 price target on shares of Edison International in a report on Tuesday, April 21st. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $72.82.

Edison International Stock Performance

Shares of EIX opened at $68.36 on Thursday. 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 cap of $26.31 billion, a PE ratio of 7.05, a P/E/G ratio of 5.49 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 stock has a fifty day moving average price of $74.26 and a 200-day moving average price of $71.27.

Edison International (NYSE:EIX - Get Free Report) last announced 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. Edison International had a return on equity of 15.53% and a net margin of 20.30%.The firm had revenue of $4.36 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the previous year, the business earned $0.97 EPS. The firm's revenue for the quarter was down 4.1% on a year-over-year basis. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. Equities research analysts predict that Edison International will post 6.13 earnings per share for the current fiscal year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, July 7th were paid a dividend of $0.8775 per share. The ex-dividend date was Tuesday, July 7th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.1%. Edison International's payout ratio is presently 36.19%.

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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