Legal & General Group Plc Takes $329.77 Million Position in Edison International $EIX

Legal & General Group Plc acquired a new position in shares of Edison International (NYSE:EIX) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 4,429,359 shares of the utilities provider’s stock, valued at approximately $329,766,000.

A number of other hedge funds have also bought and sold shares of the company. Allworth Financial LP bought a new stake in Edison International in the second quarter worth approximately $2,586,000. Goldman Sachs Group Inc. boosted its holdings in shares of Edison International by 41.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 5,496,907 shares of the utilities provider’s stock worth $329,924,000 after buying an additional 1,609,847 shares in the last quarter. Patriot Financial Group Insurance Agency LLC bought a new position in shares of Edison International during the 1st quarter worth approximately $1,503,000. Del Sette Capital Management LLC acquired a new stake in shares of Edison International during the 1st quarter worth approximately $3,275,000. Finally, Pinebridge Investments LLC acquired a new stake in shares of Edison International during the 4th quarter worth approximately $46,548,000. Institutional investors own 88.95% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on EIX. Morgan Stanley dropped 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, August 21st. Weiss Ratings cut shares of Edison International from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, August 12th. Mizuho lifted their price target 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. upped their price objective on shares of Edison International from $75.00 to $76.00 and gave the company a “neutral” rating in a report on Friday, May 15th. Finally, Truist Financial cut their price objective on shares of Edison International from $81.00 to $77.00 and set a “hold” rating on the stock in a research report on Tuesday, August 4th. Three 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $72.45.

Edison International Price Performance

Shares of EIX opened at $74.83 on Wednesday. Edison International has a 12-month low of $52.00 and a 12-month high of $81.62. The business’s fifty day moving average is $74.23 and its 200 day moving average is $72.22. 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 stock has a market cap of $28.79 billion, a P/E ratio of 7.71, a P/E/G ratio of 5.74 and a beta of 0.66.

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

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, July 7th were issued a dividend of $0.8775 per share. This represents a $3.51 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date was Tuesday, July 7th. Edison International’s dividend payout ratio (DPR) is currently 36.19%.

About Edison International

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.