Westpac Banking Corp Takes Position in Edison International $EIX

Westpac Banking Corp purchased a new position in shares of Edison International (NYSE:EIX) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 22,745 shares of the utilities provider’s stock, valued at approximately $1,693,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Edison International by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 52,220,399 shares of the utilities provider’s stock worth $3,134,268,000 after buying an additional 480,726 shares during the period. BlackRock Inc. acquired a new position in Edison International in the 2nd quarter valued at approximately $3,340,412,000. State Street Corp increased its position in Edison International by 3.0% in the 4th quarter. State Street Corp now owns 33,141,204 shares of the utilities provider’s stock valued at $1,989,135,000 after acquiring an additional 953,800 shares during the period. AQR Capital Management LLC raised its stake in shares of Edison International by 69.9% during the fourth quarter. AQR Capital Management LLC now owns 18,285,152 shares of the utilities provider’s stock valued at $1,097,475,000 after acquiring an additional 7,521,168 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Edison International by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 13,018,379 shares of the utilities provider’s stock valued at $803,407,000 after acquiring an additional 386,905 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Down 4.2%

Shares of NYSE EIX opened at $71.51 on Friday. The company’s 50 day moving average price is $74.13 and its 200-day moving average price is $71.97. 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 has a 52-week low of $52.00 and a 52-week high of $81.62. The company has a market capitalization of $27.52 billion, a P/E ratio of 7.37, a price-to-earnings-growth ratio of 5.56 and a beta of 0.66.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Thursday, July 30th. The utilities provider reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.36. Edison International had a net margin of 20.30% and a return on equity of 15.53%. The company had revenue of $4.36 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same period in the prior year, the company posted $0.97 earnings per share. Edison International’s revenue for the quarter was down 4.1% compared to the same quarter last year. 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 Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date was Tuesday, July 7th. Edison International’s dividend payout ratio (DPR) is presently 36.19%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on EIX shares. 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 note on Friday, July 31st. Weiss Ratings lowered Edison International from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, August 12th. Morgan Stanley cut their target price on Edison International from $69.00 to $65.00 and set an “underweight” rating on the stock in a report on Friday. JPMorgan Chase & Co. upped their price target on Edison International from $75.00 to $76.00 and gave the company a “neutral” rating in a research report on Friday, May 15th. Finally, Truist Financial decreased their price target on Edison International from $81.00 to $77.00 and set a “hold” rating for the company in a research note on Tuesday, August 4th. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $72.45.

Edison International Company 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.