Great Lakes Advisors LLC Buys Shares of 29,187 Edison International $EIX

Great Lakes Advisors LLC purchased a new position in Edison International (NYSE:EIX) in the second quarter, HoldingsChannel.com reports. The fund purchased 29,187 shares of the utilities provider’s stock, valued at approximately $2,173,000.

Several other institutional investors and hedge funds have also made changes to their positions in EIX. BlackRock Inc. purchased a new position in Edison International in the 2nd quarter valued at about $3,340,412,000. AQR Capital Management LLC raised its position in shares of Edison International by 69.9% in the fourth quarter. AQR Capital Management LLC now owns 18,285,152 shares of the utilities provider’s stock valued at $1,097,475,000 after buying an additional 7,521,168 shares during the last quarter. Norges Bank purchased a new position in shares of Edison International during the fourth quarter valued at approximately $339,311,000. Bank of New York Mellon Corp acquired a new stake in Edison International during the second quarter worth approximately $309,361,000. Finally, Deutsche Bank AG acquired a new stake in Edison International during the second quarter worth approximately $167,095,000. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Trading Down 4.2%

NYSE:EIX opened at $71.51 on Friday. The business’s 50-day moving average is $74.13 and its two-hundred day moving average is $71.97. The firm has a market capitalization of $27.52 billion, a PE ratio of 7.37, a price-to-earnings-growth ratio of 5.80 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) last issued its quarterly earnings data on Thursday, July 30th. The utilities provider reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.36. The company had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $4.82 billion. Edison International had a net margin of 20.30% and a return on equity of 15.53%. Edison International’s revenue for the quarter was down 4.1% on a year-over-year basis. 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. Research analysts predict that Edison International will post 6.13 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date was Tuesday, July 7th. This represents a $3.51 annualized dividend and a yield of 4.9%. Edison International’s dividend payout ratio is 36.19%.

Analysts Set New Price Targets

Several brokerages have weighed in on EIX. Truist Financial cut their price target on Edison International from $81.00 to $77.00 and set a “hold” rating for the company in a report on Tuesday, August 4th. Barclays reissued an “equal weight” rating and issued a $75.00 price target (down from $78.00) on shares of Edison International in a research note on Friday, July 31st. Mizuho upped their price objective on shares of Edison International from $79.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. JPMorgan Chase & Co. increased their price objective on shares of Edison International from $75.00 to $76.00 and gave the stock a “neutral” rating in a report on Friday, May 15th. Finally, Morgan Stanley decreased their target price on shares of Edison International from $69.00 to $65.00 and set an “underweight” rating on the stock in a research report on Friday. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Edison International presently has an average rating of “Hold” and a consensus price target of $72.45.

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.