Wellington Management Group LLP Buys 31,296 Shares of Edison International $EIX

Key Points

• Wellington Management increased its Edison International stake by 6.5%, buying 31,296 shares to own 512,083 shares worth approximately $38.1 million. Institutional investors collectively hold 88.95% of the company.
• Analyst sentiment remains cautious: Edison International has a consensus “Reduce” rating and an average price target of $64.55, with several brokerages recently lowering their targets.
• Edison International reported quarterly EPS of $1.54, beating estimates of $1.18, although revenue declined 4.1% year over year. The company also maintains a quarterly dividend of $0.8775 per share, representing a 6.2% annualized yield.

Wellington Management Group LLP increased its stake in Edison International (NYSE:EIX - Free Report) by 6.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 512,083 shares of the utilities provider's stock after purchasing an additional 31,296 shares during the quarter. Wellington Management Group LLP owned 0.13% of Edison International worth $38,125,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. 10Elms LLP purchased a new stake in Edison International during the fourth quarter valued at $26,000. Edmond DE Rothschild Holding S.A. purchased a new position in Edison International in the second quarter worth about $26,000. Transamerica Financial Advisors LLC grew its stake in shares of Edison International by 170.3% during the 4th quarter. Transamerica Financial Advisors LLC now owns 446 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 281 shares during the period. Groupe la Francaise bought a new stake in shares of Edison International during the 1st quarter valued at about $29,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Edison International during the 2nd quarter valued at about $30,000. Institutional investors own 88.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on EIX. JPMorgan Chase & Co. lowered their price objective on shares of Edison International from $82.00 to $61.00 and set a "neutral" rating on the stock in a research note on Wednesday. Barclays reaffirmed an "equal weight" rating and set a $75.00 target price (down from $78.00) on shares of Edison International in a report on Friday, July 31st. UBS Group decreased their price target on shares of Edison International from $75.00 to $63.00 and set a "neutral" rating on the stock in a research report on Tuesday. Argus reissued a "hold" rating on shares of Edison International in a research report on Wednesday, August 26th. Finally, Weiss Ratings upgraded Edison International from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, August 27th. Two research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, Edison International has a consensus rating of "Reduce" and an average price target of $64.55.

Edison International Trading Up 0.6%

Edison International stock opened at $56.64 on Friday. Edison International has a 12-month low of $52.00 and a 12-month high of $81.62. The firm has a market capitalization of $21.80 billion, a price-to-earnings ratio of 5.84, a P/E/G ratio of 2.27 and a beta of 0.62. The firm has a 50 day moving average of $72.54 and a 200 day moving average of $71.96. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 1.95.

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, 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 analyst estimates of $4.82 billion. During the same period in the prior year, the business posted $0.97 earnings per share. 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. As a group, research analysts predict that Edison International will post 6.13 earnings per share for the current year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, July 7th were paid a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a yield of 6.2%. The ex-dividend date of this dividend was Tuesday, July 7th. Edison International's dividend payout ratio (DPR) is 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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