Empowered Funds LLC Makes New Investment in Edison International $EIX

Empowered Funds LLC acquired a new position in Edison International (NYSE:EIX) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 358,821 shares of the utilities provider’s stock, valued at approximately $26,714,000.

Several other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Edison International during the 2nd quarter worth approximately $3,340,412,000. State Street Corp boosted its position in shares of Edison International by 3.0% in the fourth quarter. State Street Corp now owns 33,141,204 shares of the utilities provider’s stock worth $1,989,135,000 after acquiring an additional 953,800 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Edison International by 69.9% in the 4th quarter. AQR Capital Management LLC now owns 18,285,152 shares of the utilities provider’s stock valued at $1,097,475,000 after purchasing an additional 7,521,168 shares during the last quarter. Geode Capital Management LLC grew its position in Edison International by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 13,018,379 shares of the utilities provider’s stock valued at $803,407,000 after acquiring an additional 386,905 shares during the period. Finally, Northern Trust Corp increased its position in Edison International by 12.3% during the 4th quarter. Northern Trust Corp now owns 6,070,324 shares of the utilities provider’s stock worth $364,341,000 after purchasing an additional 662,477 shares in the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Price Performance

NYSE EIX opened at $73.59 on Friday. Edison International has a 1 year low of $52.00 and a 1 year high of $81.62. The company has a fifty day simple moving average of $74.34 and a 200 day simple moving average of $72.37. 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 cap of $28.32 billion, a P/E ratio of 7.59, a P/E/G ratio of 5.79 and a beta of 0.66.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, July 30th. The utilities provider reported $1.54 EPS for the quarter, topping the consensus estimate of $1.18 by $0.36. Edison International had a return on equity of 15.53% and a net margin of 20.30%.The company had revenue of $4.36 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the previous year, the business posted $0.97 EPS. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. On average, sell-side analysts predict that Edison International will post 6.13 EPS for the current year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, July 7th were issued a $0.8775 dividend. This represents a $3.51 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend was Tuesday, July 7th. Edison International’s payout ratio is 36.19%.

Analysts Set New Price Targets

EIX has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Edison International from $75.00 to $76.00 and gave the company a “neutral” rating in a research report on Friday, May 15th. Truist Financial reduced their price target on Edison International from $81.00 to $77.00 and set a “hold” rating for the company in a research report on Tuesday, August 4th. Argus reaffirmed a “hold” rating on shares of Edison International in a research note on Wednesday. Barclays restated 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. Finally, Mizuho raised their target price on shares of Edison International from $79.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Three equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Edison International currently has an average rating of “Hold” and a consensus target price of $72.45.

Edison International Company 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.