Equitable Holdings Inc. Purchases Shares of 8,967 Edison International $EIX

Equitable Holdings Inc. purchased a new stake in Edison International (NYSE:EIX) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 8,967 shares of the utilities provider’s stock, valued at approximately $668,000.

Several other large investors also recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Edison International in the 2nd quarter worth approximately $3,340,412,000. State Street Corp boosted its holdings in Edison International by 3.0% during the fourth quarter. State Street Corp now owns 33,141,204 shares of the utilities provider’s stock worth $1,989,135,000 after buying an additional 953,800 shares in the last quarter. AQR Capital Management LLC boosted its holdings in 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 worth $1,097,475,000 after buying an additional 7,521,168 shares in the last quarter. Geode Capital Management LLC grew its position in Edison International by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 13,018,379 shares of the utilities provider’s stock worth $803,407,000 after buying an additional 386,905 shares during the last quarter. Finally, Northern Trust Corp grew its position in Edison International by 12.3% in the fourth quarter. Northern Trust Corp now owns 6,070,324 shares of the utilities provider’s stock worth $364,341,000 after buying an additional 662,477 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

Edison International Stock Performance

Shares of EIX opened at $70.09 on Friday. The firm has a market cap of $26.97 billion, a price-to-earnings ratio of 7.23, a price-to-earnings-growth ratio of 5.45 and a beta of 0.66. The company’s fifty day moving average is $74.30 and its 200-day moving average is $72.35. 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.

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

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, July 7th were given 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 5.0%. Edison International’s payout ratio is currently 36.19%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on EIX shares. JPMorgan Chase & Co. lifted their target price on Edison International from $75.00 to $76.00 and gave the stock a “neutral” rating in a report on Friday, May 15th. Truist Financial reduced their target price on Edison International from $81.00 to $77.00 and set a “hold” rating for the company in a report on Tuesday, August 4th. Mizuho increased their price target on Edison International from $79.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Barclays reissued an “equal weight” rating and issued a $75.00 price target (down from $78.00) on shares of Edison International in a research note on Friday, July 31st. Finally, Weiss Ratings upgraded Edison International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday. Four investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Edison International has a consensus rating of “Hold” and a consensus price target of $72.45.

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.