Hennessy Advisors Inc. Makes New Investment in Edison International $EIX

Key Points

• Hennessy Advisors purchased 24,881 shares of Edison International during the second quarter, worth approximately $1.85 million. Institutional investors and hedge funds collectively own 88.95% of EIX shares.
• Analyst sentiment remains mixed, with Edison International carrying a consensus “Hold” rating and an average price target of $72.45. Price targets range from $65 to $86.
• Edison International reported quarterly EPS of $1.54, beating estimates of $1.18, though revenue fell 4.1% year over year to $4.36 billion. The company pays an annualized $3.51 dividend, yielding about 5.0%.

Hennessy Advisors Inc. bought a new stake in Edison International (NYSE:EIX - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 24,881 shares of the utilities provider's stock, valued at approximately $1,852,000.

Several other institutional investors also recently bought and sold shares of EIX. New Mexico Educational Retirement Board increased its position in Edison International by 6.7% during the 2nd quarter. New Mexico Educational Retirement Board now owns 19,152 shares of the utilities provider's stock worth $1,426,000 after purchasing an additional 1,200 shares during the period. Mufg Securities Americas Inc. grew its stake in shares of Edison International by 8.9% during the 2nd quarter. Mufg Securities Americas Inc. now owns 11,590 shares of the utilities provider's stock worth $863,000 after purchasing an additional 943 shares during the period. Nissay Asset Management Corp Japan lifted its stake in shares of Edison International by 2.9% in the second quarter. Nissay Asset Management Corp Japan now owns 52,519 shares of the utilities provider's stock valued at $3,910,000 after purchasing an additional 1,484 shares during the period. Hsbc Holdings PLC lifted its position in shares of Edison International by 0.6% during the 2nd quarter. Hsbc Holdings PLC now owns 3,507,101 shares of the utilities provider's stock valued at $261,275,000 after acquiring an additional 22,057 shares during the period. Finally, Wellington Management Group LLP lifted its position in shares of Edison International by 6.5% during the 2nd quarter. Wellington Management Group LLP now owns 512,083 shares of the utilities provider's stock valued at $38,125,000 after acquiring an additional 31,296 shares during the period. 88.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on EIX shares. Mizuho raised their price objective on Edison International from $79.00 to $86.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. Morgan Stanley lowered their target price on Edison International from $69.00 to $65.00 and set an "underweight" rating on the stock in a report on Friday, August 21st. 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 note on Friday, July 31st. Argus reiterated a "hold" rating on shares of Edison International in a research report on Wednesday, August 26th. Finally, Weiss Ratings raised shares of Edison International from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday. Four 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 data from MarketBeat, Edison International currently has a consensus rating of "Hold" and an average price target of $72.45.

Edison International Stock Performance

Edison International stock opened at $70.09 on Monday. 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 has a fifty-two week low of $52.00 and a fifty-two week high of $81.62. The stock has a fifty day moving average of $74.30 and a two-hundred day moving average of $72.41. The company has a market capitalization of $26.97 billion, a price-to-earnings ratio of 7.23, a PEG ratio of 5.45 and a beta of 0.66.

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

Edison International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, July 7th were given a $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend was Tuesday, July 7th. Edison International's payout ratio is currently 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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