Saudi Central Bank Has $29.09 Million Stake in Edison International $EIX

Saudi Central Bank lifted its holdings in shares of Edison International (NYSE:EIX) by 3.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 371,944 shares of the utilities provider’s stock after purchasing an additional 12,741 shares during the quarter. Saudi Central Bank’s holdings in Edison International were worth $29,091,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Bank of America lowered shares of Edison International from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $81.00 to $51.00 in a research report on Tuesday, September 1st. JPMorgan Chase & Co. reduced their target price on shares of Edison International from $82.00 to $61.00 and set a “neutral” rating for the company in a report on Wednesday. Morgan Stanley decreased their price target on shares of Edison International from $69.00 to $65.00 and set an “underweight” rating on the stock in a research note on Friday, August 21st. Barclays reissued an “equal weight” rating and issued a $75.00 price target (down from $78.00) on shares of Edison International in a report on Friday, July 31st. Finally, Truist Financial cut their price objective on shares of Edison International from $77.00 to $63.00 and set a “hold” rating for the company in a research report on Thursday. Two research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Edison International currently has a consensus rating of “Reduce” and a consensus price target of $64.55.

Edison International Stock Performance

Shares of NYSE EIX opened at $56.64 on Friday. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.66 and a quick ratio of 0.61. The firm has a market cap of $21.80 billion, a price-to-earnings ratio of 5.84, a P/E/G ratio of 2.29 and a beta of 0.62. The stock’s fifty day moving average price is $72.54 and its two-hundred day moving average price is $71.96. Edison International has a one year low of $52.00 and a one year high of $81.62.

Edison International (NYSE:EIX) last posted its earnings results on Thursday, July 30th. The utilities provider reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.36. The company had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $4.82 billion. Edison International had a return on equity of 15.53% and a net margin of 20.30%.The company’s revenue was down 4.1% on a year-over-year basis. During the same quarter last 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, equities analysts forecast that Edison International will post 6.13 EPS for the current year.

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, July 7th were paid a $0.8775 dividend. The ex-dividend date was Tuesday, July 7th. This represents a $3.51 annualized dividend and a yield of 6.2%. Edison International’s payout ratio is 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.