First Trust Advisors LP Sells 813,788 Shares of Edison International $EIX

First Trust Advisors LP lessened its stake in shares of Edison International (NYSE:EIX) by 30.9% during the 1st quarter, HoldingsChannel reports. The firm owned 1,817,683 shares of the utilities provider’s stock after selling 813,788 shares during the quarter. First Trust Advisors LP’s holdings in Edison International were worth $133,018,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. ABN Amro Investment Solutions boosted its holdings in shares of Edison International by 3.6% during the 1st quarter. ABN Amro Investment Solutions now owns 35,069 shares of the utilities provider’s stock worth $2,566,000 after buying an additional 1,212 shares during the period. PNC Financial Services Group Inc. raised its holdings in Edison International by 11.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 66,605 shares of the utilities provider’s stock worth $4,874,000 after acquiring an additional 6,729 shares during the period. Oslo Pensjonsforsikring AS acquired a new position in Edison International during the 1st quarter worth $500,000. Andra AP fonden lifted its position in Edison International by 11.6% during the 1st quarter. Andra AP fonden now owns 264,996 shares of the utilities provider’s stock worth $19,392,000 after acquiring an additional 27,596 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC bought a new stake in Edison International during the first quarter valued at about $96,000. Institutional investors own 88.95% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on EIX. JPMorgan Chase & Co. raised 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. Barclays boosted their price objective on Edison International from $77.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Seaport Research Partners lowered Edison International from a “buy” rating to a “neutral” rating in a report on Monday, April 20th. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $62.00 target price on shares of Edison International in a report on Tuesday, April 21st. Finally, Bank of America dropped their price target on Edison International from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $72.64.

Edison International Trading Down 1.1%

Shares of EIX stock opened at $79.54 on Friday. The firm has a fifty day moving average of $73.35 and a 200-day moving average of $70.32. The stock has a market cap of $30.60 billion, a price-to-earnings ratio of 8.64, a P/E/G ratio of 6.24 and a beta of 0.66. Edison International has a 52-week low of $51.01 and a 52-week high of $80.90. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.68 and a current ratio of 0.74.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, April 28th. The utilities provider reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.10. The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.15 billion. Edison International had a net margin of 19.27% and a return on equity of 14.56%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.37 EPS. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. On average, equities research analysts forecast that Edison International will post 6.13 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, July 7th will be issued a dividend of $0.8775 per share. This represents a $3.51 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Tuesday, July 7th. Edison International’s payout ratio is presently 38.11%.

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.