Edison International (NYSE:EIX) Sees Strong Trading Volume - Here's What Happened

Key Points

• Edison International’s trading volume surged 158% to approximately 9.43 million shares, while the stock traded near $55.31.
• Analyst sentiment remains cautious: the consensus rating is “Reduce”, with one Buy, nine Hold, and four Sell ratings. The average price target is $60.18, although several firms recently lowered their targets.
• The company reported quarterly EPS of $1.54, beating estimates, and declared a quarterly dividend of $0.8775, equivalent to a 6.4% annualized yield. Institutional investors and hedge funds own 88.95% of the stock.

Edison International (NYSE:EIX - Get Free Report) saw strong trading volume on Tuesday. Approximately 9,430,894 shares changed hands during trading, an increase of 158% from the previous session's volume of 3,652,932 shares. The stock last traded at $55.3050 and had previously closed at $55.64.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Barclays lowered their price target on shares of Edison International from $75.00 to $53.00 and set an "equal weight" rating on the stock in a report on Friday. Jefferies Financial Group restated an "underperform" rating and set a $42.00 price target (down from $53.00) on shares of Edison International in a research report on Friday, October 2nd. UBS Group reaffirmed a "neutral" rating and issued a $57.00 price objective on shares of Edison International in a report on Thursday, September 24th. Truist Financial cut their price objective on shares of Edison International from $63.00 to $62.00 and set a "hold" rating for the company in a report on Monday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Edison International from $61.00 to $59.00 and set a "neutral" rating for the company in a research report on Monday. One equities research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, Edison International currently has an average rating of "Reduce" and a consensus target price of $60.18.

Edison International Stock Performance

The company has a debt-to-equity ratio of 1.95, a current ratio of 0.66 and a quick ratio of 0.61. The firm has a fifty day simple moving average of $61.24 and a 200 day simple moving average of $68.73. The company has a market capitalization of $21.24 billion, a price-to-earnings ratio of 5.70, a price-to-earnings-growth ratio of 2.23 and a beta of 0.62.

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 during the quarter, compared to analysts' expectations 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 was down 4.1% compared to the same quarter last year. During the same period in the previous year, the business 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 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, October 31st. Investors of record on Wednesday, October 7th will be issued a $0.8775 dividend. This represents a $3.51 annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend is Wednesday, October 7th. Edison International's payout ratio is presently 36.19%.

Hedge Funds Weigh In On Edison International

A number of large investors have recently added to or reduced their stakes in EIX. Rakuten Investment Management Inc. acquired a new stake in shares of Edison International in the second quarter valued at $4,750,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Edison International during the 2nd quarter worth about $33,328,000. Jupiter Topco LLC acquired a new position in Edison International during the 2nd quarter worth about $3,577,000. Corient Private Wealth LP lifted its stake in Edison International by 49.7% during the 2nd quarter. Corient Private Wealth LP now owns 136,621 shares of the utilities provider's stock worth $10,171,000 after acquiring an additional 45,336 shares in the last quarter. Finally, Allworth Financial LP purchased a new position in Edison International during the 2nd quarter valued at about $2,586,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

About Edison International

Edison International is a publicly owned holding company based in Rosemead, California. Its principal subsidiary, Southern California Edison (SCE), is an electric utility that generates, transmits, and distributes electricity across central, coastal, and Southern California.

SCE provides electric service to residential, commercial, industrial, and public-sector customers and manages a large transmission and distribution network. The utility is also involved in grid modernization, wildfire mitigation, renewable energy integration, energy efficiency, and the development of electric transportation infrastructure.

Edison International's history is rooted in Southern California Edison, which traces its origins to the late 19th century.

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.