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

The Manufacturers Life Insurance Company acquired a new stake in Edison International (NYSE:EIX) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 252,385 shares of the utilities provider’s stock, valued at approximately $18,790,000. The Manufacturers Life Insurance Company owned 0.07% of Edison International as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its stake in shares of Edison International by 112.9% during the 1st quarter. Jones Financial Companies Lllp now owns 9,785 shares of the utilities provider’s stock valued at $577,000 after acquiring an additional 5,190 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Edison International by 2.4% during the 1st quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider’s stock worth $523,000 after acquiring an additional 211 shares during the period. Woodline Partners LP boosted its position in shares of Edison International by 40.7% in the first quarter. Woodline Partners LP now owns 32,709 shares of the utilities provider’s stock worth $1,927,000 after acquiring an additional 9,459 shares during the last quarter. Sivia Capital Partners LLC boosted its position in shares of Edison International by 153.6% in the second quarter. Sivia Capital Partners LLC now owns 8,734 shares of the utilities provider’s stock worth $451,000 after acquiring an additional 5,290 shares during the last quarter. Finally, Baird Financial Group Inc. purchased a new stake in Edison International in the second quarter valued at approximately $302,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Stock Down 4.9%

Shares of NYSE:EIX opened at $70.09 on Friday. The stock has a 50-day simple moving average of $74.30 and a 200-day simple moving average of $72.35. The stock has a market capitalization of $26.97 billion, a P/E ratio of 7.23, a PEG ratio of 5.72 and a beta of 0.66. Edison International has a 1 year low of $52.00 and a 1 year high of $81.62. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.61 and a current ratio of 0.66.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Thursday, July 30th. The utilities provider reported $1.54 EPS for the quarter, beating the consensus estimate of $1.18 by $0.36. The firm had revenue of $4.36 billion for 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%. Edison International’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.97 earnings per share. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. Equities analysts forecast that Edison International will post 6.13 earnings per share for the current year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, July 7th were paid a $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a dividend 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%.

Analyst Upgrades and Downgrades

EIX has been the subject of several research analyst reports. 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 report on Tuesday, August 4th. Weiss Ratings upgraded shares of Edison International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday. Argus reissued a “hold” rating on shares of Edison International in a research note on Wednesday. JPMorgan Chase & Co. upped their price objective on Edison International from $75.00 to $76.00 and gave the stock a “neutral” rating in a report on Friday, May 15th. Finally, Mizuho increased their target price on Edison International from $79.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Four analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $72.45.

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.