The Manufacturers Life Insurance Company Invests $18.79 Million in Edison International $EIX

The Manufacturers Life Insurance Company bought a new stake in Edison International (NYSE:EIX) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 252,385 shares of the utilities provider’s stock, valued at approximately $18,790,000.

Several other hedge funds have also modified their holdings of the stock. 10Elms LLP purchased a new position in Edison International in the 4th quarter worth approximately $26,000. Edmond DE Rothschild Holding S.A. acquired a new stake in Edison International in the second quarter valued at approximately $26,000. Transamerica Financial Advisors LLC raised its stake in shares of Edison International by 170.3% during the fourth 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 purchased a new stake in shares of Edison International during the first quarter valued at approximately $29,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Edison International in the second quarter valued at $30,000. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Mizuho lifted their price target on shares of Edison International from $79.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Argus reiterated a “hold” rating on shares of Edison International in a report on Wednesday. Barclays reissued an “equal weight” rating and issued a $75.00 price objective (down from $78.00) on shares of Edison International in a research report on Friday, July 31st. JPMorgan Chase & Co. raised their target price on Edison International from $75.00 to $76.00 and gave the company a “neutral” rating in a research note on Friday, May 15th. Finally, Truist Financial dropped their target price on Edison International from $81.00 to $77.00 and set a “hold” rating on the stock in a research report on Tuesday, August 4th. Four investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Edison International presently has a consensus rating of “Hold” and an average price target of $72.45.

Edison International Stock Performance

Edison International stock opened at $70.09 on Friday. Edison International has a 52 week low of $52.00 and a 52 week high of $81.62. 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 stock has a market cap of $26.97 billion, a P/E ratio of 7.23, a price-to-earnings-growth ratio of 5.72 and a beta of 0.66. The stock has a 50 day moving average of $74.30 and a 200-day moving average of $72.35.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, July 30th. The utilities provider reported $1.54 earnings per share (EPS) 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 analyst estimates of $4.82 billion. Edison International had a net margin of 20.30% and a return on equity of 15.53%. The business’s revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.97 earnings per share. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. On average, analysts expect 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 was paid on Friday, July 31st. Shareholders of record on Tuesday, July 7th were issued a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend was Tuesday, July 7th. Edison International’s dividend payout ratio (DPR) is currently 36.19%.

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.