Evolve Private Wealth LLC Makes New Investment in Edison International $EIX

Evolve Private Wealth LLC acquired a new position in shares of Edison International (NYSE:EIX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 36,864 shares of the utilities provider’s stock, valued at approximately $2,745,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Avior Wealth Management LLC grew its position in Edison International by 4.7% in the second quarter. Avior Wealth Management LLC now owns 2,956 shares of the utilities provider’s stock valued at $220,000 after purchasing an additional 134 shares in the last quarter. Equitable Trust Co. increased its position in shares of Edison International by 0.8% during the 1st 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 last quarter. Altshuler Shaham Ltd raised its stake in shares of Edison International by 36.6% during the 1st quarter. Altshuler Shaham Ltd now owns 578 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 155 shares in the last quarter. UMB Bank n.a. grew its stake 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 buying an additional 159 shares in the last quarter. Finally, Paladin Wealth LLC increased its holdings in Edison International by 6.3% during the second quarter. Paladin Wealth LLC now owns 3,035 shares of the utilities provider’s stock worth $226,000 after buying an additional 181 shares during the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Edison International Stock Down 4.2%

EIX opened at $71.51 on Friday. The company has a 50 day moving average of $74.13 and a 200 day moving average of $71.97. Edison International has a 12 month low of $52.00 and a 12 month high of $81.62. The company has a market cap of $27.52 billion, a PE ratio of 7.37, a price-to-earnings-growth ratio of 5.56 and a beta of 0.66. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 1.95.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, July 30th. The utilities provider reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.36. Edison International had a return on equity of 15.53% and a net margin of 20.30%.The firm had revenue of $4.36 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the previous year, the company posted $0.97 earnings per share. The company’s revenue 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. On average, sell-side analysts expect that Edison International will post 6.13 EPS for the current year.

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, July 7th were issued a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend was Tuesday, July 7th. Edison International’s dividend payout ratio is presently 36.19%.

Analyst Ratings Changes

A number of research firms recently weighed in on EIX. Truist Financial dropped their price target on Edison International from $81.00 to $77.00 and set a “hold” rating on the stock in a research note on Tuesday, August 4th. Weiss Ratings cut Edison International from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, August 12th. Barclays reiterated 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. Mizuho increased their price objective on shares of Edison International from $79.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Finally, Morgan Stanley cut their target price on shares of Edison International from $69.00 to $65.00 and set an “underweight” rating on the stock in a research report on Friday. Three equities research 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.com, the company presently has an average rating of “Hold” and an average 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.