Man Group plc Invests $55.74 Million in Edison International $EIX

Man Group plc purchased a new stake in shares of Edison International (NYSE:EIX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 748,652 shares of the utilities provider’s stock, valued at approximately $55,737,000.

Other hedge funds have also modified their holdings of the company. Avior Wealth Management LLC raised its position in Edison International by 4.7% in the 2nd quarter. Avior Wealth Management LLC now owns 2,956 shares of the utilities provider’s stock worth $220,000 after purchasing an additional 134 shares during the last quarter. Equitable Trust Co. lifted its stake in shares of Edison International by 0.8% during the first quarter. Equitable Trust Co. now owns 19,616 shares of the utilities provider’s stock valued at $1,435,000 after acquiring an additional 148 shares during the period. Altshuler Shaham Ltd lifted its stake in shares of Edison International by 36.6% during the first quarter. Altshuler Shaham Ltd now owns 578 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 155 shares during the period. UMB Bank n.a. increased its position in Edison International by 5.3% in the fourth quarter. UMB Bank n.a. now owns 3,169 shares of the utilities provider’s stock worth $190,000 after purchasing an additional 159 shares during the period. Finally, Paladin Wealth LLC increased its position in Edison International by 6.3% in the second quarter. Paladin Wealth LLC now owns 3,035 shares of the utilities provider’s stock worth $226,000 after purchasing an additional 181 shares during the period. 88.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Barclays restated an “equal weight” rating and set a $75.00 target price (down from $78.00) on shares of Edison International in a research report on Friday, July 31st. JPMorgan Chase & Co. lifted their price target on shares of Edison International from $75.00 to $76.00 and gave the stock a “neutral” rating in a research report on Friday, May 15th. Morgan Stanley dropped their price target on shares of Edison International from $69.00 to $65.00 and set an “underweight” rating for the company in a research note on Friday, August 21st. Truist Financial dropped their price target on shares of Edison International from $81.00 to $77.00 and set a “hold” rating for the company in a research note on Tuesday, August 4th. Finally, Mizuho increased their price objective on shares of Edison International from $79.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Edison International has a consensus rating of “Hold” and a consensus target price of $72.45.

Edison International Stock Up 1.2%

Shares of Edison International stock opened at $74.83 on Wednesday. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 1.95. Edison International has a 12 month low of $52.00 and a 12 month high of $81.62. The business has a fifty day simple moving average of $74.23 and a 200 day simple moving average of $72.22. The stock has a market cap of $28.79 billion, a PE ratio of 7.71, a price-to-earnings-growth ratio of 5.74 and a beta of 0.66.

Edison International (NYSE:EIX) last released its earnings results on Thursday, July 30th. The utilities provider reported $1.54 earnings per share for the quarter, beating 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 firm had revenue of $4.36 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the prior year, the firm posted $0.97 earnings per share. The company’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. Research analysts predict that Edison International will post 6.13 EPS for the current year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, July 7th were paid a $0.8775 dividend. The ex-dividend date of this dividend was Tuesday, July 7th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 4.7%. Edison International’s dividend payout ratio is 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.