NewEdge Advisors LLC Has $6.89 Million Stock Holdings in Edison International $EIX

Key Points

• NewEdge Advisors increased its Edison International stake by 26% in the second quarter, acquiring 19,090 additional shares. Its 92,552 shares were valued at approximately $6.89 million.
• Analyst sentiment is broadly negative: the stock has a consensus “Reduce” rating from MarketBeat, with a $64.55 average price target after several analysts lowered targets or downgraded the shares.
• Edison International reported quarterly EPS of $1.54, exceeding estimates of $1.18, while revenue fell 4.1% year over year to $4.36 billion. The company also pays a $0.8775 quarterly dividend, equivalent to a 6.3% annual yield.

NewEdge Advisors LLC lifted its position in shares of Edison International (NYSE:EIX - Free Report) by 26.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 92,552 shares of the utilities provider's stock after purchasing an additional 19,090 shares during the period. NewEdge Advisors LLC's holdings in Edison International were worth $6,890,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Edmond DE Rothschild Holding S.A. bought a new position in Edison International during the second quarter worth about $26,000. Groupe la Francaise bought a new stake in Edison International in the first quarter valued at approximately $29,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Edison International in the second quarter valued at approximately $30,000. Bell Investment Advisors Inc acquired a new stake in shares of Edison International in the second quarter valued at approximately $31,000. Finally, 10Elms LLP bought a new position in shares of Edison International during the 4th quarter worth approximately $26,000. 88.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

EIX has been the topic of a number of recent analyst reports. Truist Financial decreased their target price on Edison International from $77.00 to $63.00 and set a "hold" rating on the stock in a report on Thursday, September 3rd. Bank of America downgraded Edison International from a "buy" rating to a "neutral" rating and cut their price target for the company from $81.00 to $51.00 in a report on Tuesday, September 1st. Morgan Stanley reduced their price objective on shares of Edison International from $69.00 to $65.00 and set an "underweight" rating for the company in a research report on Friday, August 21st. Weiss Ratings downgraded shares of Edison International from a "buy (b-)" rating to a "hold (c)" rating in a report on Thursday. Finally, Mizuho reiterated a "neutral" rating and issued a $70.00 price objective (down from $86.00) on shares of Edison International in a report on Monday, August 31st. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus price target of $64.55.

Edison International Price Performance

Edison International stock opened at $56.05 on Monday. Edison International has a 12 month low of $52.00 and a 12 month high of $81.62. The stock's 50 day moving average is $70.77 and its 200-day moving average is $71.43. 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 company has a market capitalization of $21.57 billion, a price-to-earnings ratio of 5.78, a PEG ratio of 2.25 and a beta of 0.62.

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 analysts' consensus estimates of $1.18 by $0.36. The company 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 firm's quarterly revenue 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. Equities research analysts expect that Edison International will post 6.13 EPS for the current year.

Edison International Announces Dividend

The company also recently disclosed 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 was Tuesday, July 7th. This represents a $3.51 annualized dividend and a yield of 6.3%. Edison International's dividend payout ratio (DPR) is presently 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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