Prime Capital Investment Advisors LLC Makes New $713,000 Investment in Edison International $EIX

Prime Capital Investment Advisors LLC purchased a new stake in shares of Edison International (NYSE:EIX) during the third quarter, Holdings Channel reports. The firm purchased 13,267 shares of the utilities provider’s stock, valued at approximately $713,000.

Several other hedge funds have also recently added to or reduced their stakes in EIX. BlackRock Inc. purchased a new position in shares of Edison International in the 2nd quarter worth about $3,340,412,000. Legal & General Group Plc bought a new position in shares of Edison International during the 2nd quarter valued at about $329,766,000. Bank of New York Mellon Corp purchased a new position in shares of Edison International during the 2nd quarter valued at about $309,361,000. Amundi raised its holdings in shares of Edison International by 27.0% during the 2nd quarter. Amundi now owns 3,570,726 shares of the utilities provider’s stock valued at $265,843,000 after buying an additional 759,236 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new position in shares of Edison International during the 2nd quarter valued at about $261,275,000. Institutional investors own 88.95% of the company’s stock.

Edison International Trading Down 1.0%

NYSE EIX opened at $57.34 on Friday. Edison International has a 1-year low of $51.10 and a 1-year high of $81.62. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 1.95. The stock has a 50-day moving average of $58.90 and a 200-day moving average of $67.75. The firm has a market cap of $22.07 billion, a PE ratio of 8.08, a price-to-earnings-growth ratio of 2.45 and a beta of 0.62.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Thursday, July 30th. The utilities provider reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.36. Edison International had a return on equity of 15.53% and a net margin of 20.30%. The business had revenue of $4.36 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same period in the previous year, the firm earned $0.97 EPS. The business’s quarterly revenue was down 4.1% on a year-over-year basis. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. As a group, sell-side analysts forecast that Edison International will post 6.13 EPS for the current year.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, October 31st. Shareholders of record on Wednesday, October 7th will be given a dividend of $0.8775 per share. The ex-dividend date of this dividend is Wednesday, October 7th. This represents a $3.51 annualized dividend and a yield of 6.1%. Edison International’s dividend payout ratio is presently 36.19%.

Analysts Set New Price Targets

EIX has been the subject of several research reports. JPMorgan Chase & Co. cut their target price on Edison International from $61.00 to $59.00 and set a “neutral” rating for the company in a research note on Monday, October 12th. Argus reissued a “hold” rating on shares of Edison International in a research note on Wednesday, August 26th. UBS Group reissued a “neutral” rating and set a $57.00 price target on shares of Edison International in a research note on Thursday, September 24th. Mizuho restated a “neutral” rating and issued a $70.00 price objective (down from $86.00) on shares of Edison International in a report on Monday, August 31st. Finally, HSBC assumed coverage on shares of Edison International in a research note on Thursday. They issued a “hold” rating and a $56.50 price objective for the company. One analyst has rated the stock with a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, Edison International has an average rating of “Reduce” and a consensus target price of $60.58.

Insiders Place Their Bets

In other Edison International news, Director Peter Taylor sold 500 shares of the firm’s stock in a transaction on Monday, October 12th. The shares were sold at an average price of $55.56, for a total value of $27,780.00. Following the sale, the director owned 33,212 shares of the company’s stock, valued at $1,845,258.72. This trade represents a 1.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is owned by insiders.

About Edison International

Edison International (NYSE: EIX) is an electric power holding company based in California. Its principal subsidiary, Southern California Edison (SCE), is one of the largest electric utilities in the United States and delivers electricity across central, coastal and Southern California. SCE serves millions of residential, commercial and industrial customers through an extensive transmission and distribution network.

Edison International’s operations are focused on the generation, transmission and distribution of electricity, as well as supporting the transition to cleaner energy.