Bank of New York Mellon Corp Raises Stock Holdings in Edison International $EIX

Bank of New York Mellon Corp raised its holdings in shares of Edison International (NYSE:EIX) by 8.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,973,058 shares of the utilities provider’s stock after purchasing an additional 307,693 shares during the quarter. Bank of New York Mellon Corp’s holdings in Edison International were worth $290,748,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Gradient Investments LLC raised its holdings in shares of Edison International by 949.8% in the fourth quarter. Gradient Investments LLC now owns 263,056 shares of the utilities provider’s stock worth $15,789,000 after buying an additional 237,999 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Edison International by 5.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,346,201 shares of the utilities provider’s stock worth $260,859,000 after purchasing an additional 220,785 shares during the last quarter. Nordea Investment Management AB increased its position in Edison International by 5.6% during the 4th quarter. Nordea Investment Management AB now owns 1,790,277 shares of the utilities provider’s stock valued at $108,204,000 after buying an additional 94,727 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Edison International by 41.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 5,496,907 shares of the utilities provider’s stock valued at $329,924,000 after acquiring an additional 1,609,847 shares in the last quarter. Finally, Chicago Partners Investment Group LLC raised its holdings in shares of Edison International by 128.7% in the fourth quarter. Chicago Partners Investment Group LLC now owns 23,765 shares of the utilities provider’s stock worth $1,444,000 after buying an additional 13,375 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Trading Down 0.6%

NYSE EIX opened at $77.58 on Friday. The stock has a market capitalization of $29.85 billion, a PE ratio of 8.42, a price-to-earnings-growth ratio of 6.07 and a beta of 0.66. The firm has a 50 day moving average of $72.71 and a two-hundred day moving average of $69.73. The company has a quick ratio of 0.68, a current ratio of 0.74 and a debt-to-equity ratio of 1.98. Edison International has a 52 week low of $50.85 and a 52 week high of $79.88.

Edison International (NYSE:EIX) last posted its quarterly 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 return on equity of 14.56% and a net margin of 19.27%.The company had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same period last year, the firm earned $1.37 earnings per share. Edison International’s quarterly revenue was up 7.7% on a year-over-year basis. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. As a group, research analysts expect that Edison International will post 6.13 EPS for the current fiscal year.

Edison International Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on EIX shares. Morgan Stanley reaffirmed an “underweight” rating on shares of Edison International in a research report on Wednesday, June 24th. Truist Financial decreased their price objective on shares of Edison International from $82.00 to $79.00 and set a “hold” rating on the stock in a report on Monday, May 18th. Barclays increased their price objective on Edison International from $77.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday. Bank of America lowered their target price on Edison International from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Finally, Seaport Research Partners lowered shares of Edison International from a “buy” rating to a “neutral” rating in a report on Monday, April 20th. Four equities 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. According to MarketBeat.com, Edison International has an average rating of “Hold” and a consensus target price of $72.73.

About Edison International

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.