Meeder Asset Management Inc. Invests $11.42 Million in Edison International $EIX

Meeder Asset Management Inc. acquired a new position in Edison International (NYSE:EIX) during the second quarter, Holdings Channel reports. The firm acquired 153,358 shares of the utilities provider’s stock, valued at approximately $11,418,000.

Several other large investors also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp grew its position in Edison International by 112.9% during the first quarter. Jones Financial Companies Lllp now owns 9,785 shares of the utilities provider’s stock worth $577,000 after buying an additional 5,190 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Edison International by 2.4% in the 1st quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider’s stock valued at $523,000 after acquiring an additional 211 shares in the last quarter. Woodline Partners LP raised its holdings in shares of Edison International by 40.7% in the 1st quarter. Woodline Partners LP now owns 32,709 shares of the utilities provider’s stock valued at $1,927,000 after acquiring an additional 9,459 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in shares of Edison International by 153.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 8,734 shares of the utilities provider’s stock valued at $451,000 after acquiring an additional 5,290 shares in the last quarter. Finally, Baird Financial Group Inc. bought a new stake in shares of Edison International during the 2nd quarter valued at about $302,000. Institutional investors own 88.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on EIX shares. Bank of America cut their price objective on Edison International from $80.00 to $78.00 and set a “buy” rating for the company in a report on Monday, April 20th. JPMorgan Chase & Co. raised their target price on shares of Edison International from $75.00 to $76.00 and gave the company a “neutral” rating in a research note on Friday, May 15th. Morgan Stanley reiterated an “underweight” rating and set a $69.00 target price on shares of Edison International in a research report on Wednesday, July 22nd. Weiss Ratings cut shares of Edison International from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, August 12th. Finally, Mizuho increased their price target on shares of Edison International from $79.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Edison International has an average rating of “Hold” and a consensus target price of $72.82.

Edison International Stock Down 0.2%

Shares of NYSE EIX opened at $71.27 on Tuesday. Edison International has a one year low of $52.00 and a one year high of $81.62. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.66 and a quick ratio of 0.61. The firm’s 50 day simple moving average is $74.03 and its two-hundred day simple moving average is $71.73. The stock has a market capitalization of $27.43 billion, a P/E ratio of 7.35, a PEG ratio of 5.54 and a beta of 0.66.

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

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, July 7th were given a $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date was Tuesday, July 7th. Edison International’s dividend payout ratio (DPR) is presently 36.19%.

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.