26,570 Shares of Edison International $EIX Bought by Steel Grove Capital Advisors LLC

Steel Grove Capital Advisors LLC bought a new stake in Edison International (NYSE:EIX) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 26,570 shares of the utilities provider’s stock, valued at approximately $1,428,000.

Several other hedge funds have also modified their holdings of EIX. BlackRock Inc. purchased a new position in Edison International in the 2nd quarter worth approximately $3,340,412,000. Legal & General Group Plc acquired a new stake in Edison International in the second quarter valued at approximately $329,766,000. Bank of New York Mellon Corp acquired a new stake in Edison International in the second quarter valued at approximately $309,361,000. Amundi raised its stake in shares of Edison International by 27.0% during the second quarter. Amundi now owns 3,570,726 shares of the utilities provider’s stock valued at $265,843,000 after purchasing an additional 759,236 shares during the period. Finally, Hsbc Holdings PLC purchased a new stake in shares of Edison International during the second quarter valued at approximately $261,275,000. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on EIX. Weiss Ratings cut shares of Edison International from a “buy (b-)” rating to a “hold (c)” rating in a research report on Thursday, September 10th. Morgan Stanley lowered their price target on shares of Edison International from $65.00 to $60.00 and set an “underweight” rating for the company in a report on Friday, September 18th. Mizuho reaffirmed a “neutral” rating and set a $70.00 price target (down from $86.00) on shares of Edison International in a report on Monday, August 31st. JPMorgan Chase & Co. dropped their price target on shares of Edison International from $61.00 to $59.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, Argus reiterated a “hold” rating on shares of Edison International in a report on Wednesday, August 26th. One 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, the company has an average rating of “Reduce” and a consensus target price of $60.18.

Edison International Stock Down 5.8%

Shares of EIX traded down $3.20 during trading on Tuesday, reaching $52.44. The company’s stock had a trading volume of 4,544,937 shares, compared to its average volume of 3,629,730. The company has a market cap of $20.18 billion, a price-to-earnings ratio of 5.53, a P/E/G ratio of 2.23 and a beta of 0.62. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 1.95. The company has a fifty day moving average of $61.24 and a two-hundred day moving average of $68.73. Edison International has a twelve month low of $51.10 and a twelve month high of $81.62.

Edison International (NYSE:EIX) last released 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. The business 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%. The business’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. On average, sell-side analysts predict that Edison International will post 6.13 EPS for the current fiscal year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 31st. Shareholders of record on Wednesday, October 7th will be issued a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a yield of 6.7%. The ex-dividend date of this dividend is Wednesday, October 7th. Edison International’s dividend payout ratio (DPR) is currently 36.19%.

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.