Edison International $EIX Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

Key Points

• UBS Asset Management reduced its Edison International stake by 3.4%, selling 145,425 shares and retaining 4.16 million shares valued at approximately $309.9 million. Institutional investors collectively own 88.95% of EIX.
• Edison International shares fell 23% to $54.05 amid concerns that proposed California wildfire legislation could leave utilities responsible for potentially uncapped liabilities, pressuring cash flow, credit ratings and future capital needs.
• The company reported quarterly EPS of $1.54, beating estimates of $1.18, but revenue declined 4.1% year over year. EIX also maintains a quarterly dividend of $0.8775 per share, equivalent to a 6.5% annualized yield, while analysts have a consensus “Hold” rating and a $71 average price target.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in Edison International (NYSE:EIX - Free Report) by 3.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,162,986 shares of the utilities provider's stock after selling 145,425 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 1.08% of Edison International worth $309,934,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of Edison International in the second quarter valued at about $3,340,412,000. AQR Capital Management LLC grew its position in Edison International by 69.9% during the fourth quarter. AQR Capital Management LLC now owns 18,285,152 shares of the utilities provider's stock worth $1,097,475,000 after buying an additional 7,521,168 shares during the period. Norges Bank purchased a new position in Edison International in the fourth quarter valued at about $339,311,000. Legal & General Group Plc purchased a new position in Edison International in the second quarter valued at about $329,766,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Edison International during the 2nd quarter valued at approximately $309,361,000. Institutional investors and hedge funds own 88.95% of the company's stock.

Edison International Stock Down 23.0%

EIX stock opened at $54.05 on Tuesday. The company's 50 day simple moving average is $73.94 and its 200-day simple moving average is $72.33. The firm has a market capitalization of $20.80 billion, a PE ratio of 5.57, a P/E/G ratio of 5.45 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 company has a debt-to-equity ratio of 1.95, a current ratio of 0.66 and a quick ratio of 0.61.

Edison International (NYSE:EIX - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The utilities provider reported $1.54 earnings per share for the quarter, topping 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 business had revenue of $4.36 billion during the quarter, compared to analysts' expectations of $4.82 billion. During the same period last year, the company posted $0.97 EPS. The company'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. Equities analysts expect that Edison International will post 6.13 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, July 7th were given a dividend of $0.8775 per share. The ex-dividend date of this dividend was Tuesday, July 7th. This represents a $3.51 annualized dividend and a yield of 6.5%. Edison International's dividend payout ratio (DPR) is presently 36.19%.

Key Headlines Impacting Edison International

Here are the key news stories impacting Edison International this week:

• Neutral Sentiment: Southern California Edison (SCE), Edison International’s utility subsidiary, called for comprehensive wildfire reform. The request could support longer-term regulatory clarity, but it also highlights the continuing uncertainty surrounding wildfire-cost allocation. Edison International Stock Plunges As SCE Calls For Comprehensive Wildfire Reform
• Neutral Sentiment: Some retail investors characterized the selloff as an overreaction, but Wall Street analysts warned that the legislation could leave EIX exposed to potentially significant wildfire liabilities. PCG, EIX Stocks Crash as Wall Street Warns of Liability Exposure
• Negative Sentiment: The amended wildfire bill reportedly keeps investor-owned utilities financially responsible if their equipment is found to have caused a wildfire. Investors are concerned that uncapped claims could pressure Edison International’s cash flow, balance sheet and credit ratings, while increasing the risk of future capital needs. California Wildfire Bill Omits Liability Cap
• Negative Sentiment: The liability concerns triggered one of EIX’s steepest single-day declines in decades and drove unusually heavy trading as investors reassessed the company’s wildfire risk. Edison Stock Craters in Worst Day Since 2001
• Negative Sentiment: Mizuho reaffirmed a “neutral” rating but reduced its price target to $70 from $86, reflecting a more cautious valuation outlook after the legislative development. Mizuho Edison International Analyst Rating

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on EIX shares. JPMorgan Chase & Co. boosted their price target 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 objective on Edison International from $81.00 to $77.00 and set a "hold" rating for the company in a report on Tuesday, August 4th. Mizuho reiterated a "neutral" rating and set a $70.00 target price (down from $86.00) on shares of Edison International in a research report on Monday. Barclays reissued 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. Finally, Morgan Stanley dropped their price target on Edison International from $69.00 to $65.00 and set an "underweight" rating for the company in a research report on Friday, August 21st. Three analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $71.00.

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.

Want to see what other hedge funds are holding EIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Edison International (NYSE:EIX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.