SG Americas Securities LLC Boosts Stake in Edison International $EIX

SG Americas Securities LLC increased its holdings in shares of Edison International (NYSE:EIX) by 76.8% during the first quarter, Holdings Channel.com reports. The fund owned 2,294,019 shares of the utilities provider’s stock after buying an additional 996,739 shares during the period. SG Americas Securities LLC’s holdings in Edison International were worth $167,876,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of EIX. Center For Asset Management LLC purchased a new position in Edison International during the first quarter worth approximately $526,000. Diversified Trust Co increased its position in shares of Edison International by 31.0% in the first quarter. Diversified Trust Co now owns 13,780 shares of the utilities provider’s stock valued at $1,008,000 after buying an additional 3,257 shares in the last quarter. Paladin Wealth LLC purchased a new stake in shares of Edison International in the first quarter valued at approximately $209,000. J. Derek Lewis & Associates Inc. purchased a new stake in shares of Edison International in the fourth quarter valued at approximately $659,000. Finally, Hsbc Holdings PLC raised its stake in shares of Edison International by 2.2% during the 4th quarter. Hsbc Holdings PLC now owns 3,102,735 shares of the utilities provider’s stock worth $186,305,000 after buying an additional 66,680 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Insider Buying and Selling

In other Edison International news, Director Peter J. Taylor sold 500 shares of the firm’s stock in a transaction on Monday, April 13th. The stock was sold at an average price of $75.30, for a total value of $37,650.00. Following the transaction, the director owned 34,212 shares in the company, valued at approximately $2,576,163.60. This trade represents a 1.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

EIX has been the topic of a number of recent analyst reports. Truist Financial decreased their target price on Edison International from $82.00 to $79.00 and set a “hold” rating on the stock in a research report on Monday, May 18th. Weiss Ratings raised shares of Edison International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, April 15th. Wells Fargo & Company restated an “underweight” rating and set a $62.00 price objective on shares of Edison International in a research report on Tuesday, April 21st. JPMorgan Chase & Co. increased their price objective on shares of Edison International from $75.00 to $76.00 and gave the company a “neutral” rating in a report on Friday, May 15th. Finally, Morgan Stanley dropped their target price on shares of Edison International from $71.00 to $70.00 and set an “underweight” rating on the stock in a research report on Tuesday, April 21st. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $72.64.

Edison International Price Performance

Shares of Edison International stock opened at $71.77 on Monday. The business has a 50 day simple moving average of $70.80 and a two-hundred day simple moving average of $67.47. Edison International has a 12 month low of $49.14 and a 12 month high of $76.21. The stock has a market capitalization of $27.61 billion, a P/E ratio of 7.79, a PEG ratio of 1.25 and a beta of 0.67. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.74 and a quick ratio of 0.68.

Edison International (NYSE:EIX) last released 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 the consensus estimate of $4.15 billion. Edison International had a return on equity of 14.56% and a net margin of 19.27%.The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.37 earnings per share. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. As a group, analysts predict that Edison International will post 6.12 EPS for the current fiscal year.

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.