Oslo Pensjonsforsikring AS Buys New Shares in Edison International $EIX

Oslo Pensjonsforsikring AS purchased a new position in shares of Edison International (NYSE:EIX) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,834 shares of the utilities provider’s stock, valued at approximately $500,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Edison International by 0.9% in the fourth 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 in the last quarter. State Street Corp lifted its holdings in shares of Edison International by 3.0% in the 4th quarter. State Street Corp now owns 33,141,204 shares of the utilities provider’s stock worth $1,989,135,000 after acquiring an additional 953,800 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Edison International by 69.9% in the 4th quarter. AQR Capital Management LLC now owns 18,285,152 shares of the utilities provider’s stock worth $1,097,475,000 after acquiring an additional 7,521,168 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Edison International by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 13,018,379 shares of the utilities provider’s stock valued at $803,407,000 after purchasing an additional 386,905 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Edison International by 12.3% during the 4th quarter. Northern Trust Corp now owns 6,070,324 shares of the utilities provider’s stock valued at $364,341,000 after acquiring an additional 662,477 shares during the period. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Trading Up 1.1%

NYSE:EIX opened at $78.09 on Wednesday. The company has a 50-day moving average price of $72.98 and a 200-day moving average price of $70.04. Edison International has a 12 month low of $51.01 and a 12 month high of $79.88. The company has a current ratio of 0.74, a quick ratio of 0.68 and a debt-to-equity ratio of 1.98. The stock has a market cap of $30.05 billion, a price-to-earnings ratio of 8.48, a P/E/G ratio of 6.00 and a beta of 0.66.

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

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, July 7th will be given a $0.8775 dividend. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a $3.51 annualized dividend and a dividend yield of 4.5%. Edison International’s dividend payout ratio is currently 38.11%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on EIX. Barclays increased their price target on shares of Edison International from $77.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Seaport Research Partners lowered shares of Edison International from a “buy” rating to a “neutral” rating in a report on Monday, April 20th. Bank of America dropped their target price on shares of Edison International from $80.00 to $78.00 and set a “buy” rating for the company in a report on Monday, April 20th. Wells Fargo & Company restated an “underweight” rating and set a $62.00 price target on shares of Edison International in a report on Tuesday, April 21st. Finally, Truist Financial reduced their price target on Edison International from $82.00 to $79.00 and set a “hold” rating on the stock in a report on Monday, May 18th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $72.73.

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.