Korea Investment CORP Takes $20.41 Million Position in Edison International $EIX

Korea Investment CORP purchased a new position in Edison International (NYSE:EIX) during the second quarter, Holdings Channel.com reports. The firm purchased 274,111 shares of the utilities provider’s stock, valued at approximately $20,408,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. EP Wealth Advisors LLC acquired a new stake in Edison International during the second quarter valued at $1,709,000. Rakuten Securities Inc. acquired a new position in Edison International in the 2nd quarter worth about $56,000. Ieq Capital LLC purchased a new stake in shares of Edison International during the 2nd quarter worth about $82,345,000. Callan Family Office LLC acquired a new stake in shares of Edison International during the 2nd quarter valued at about $377,000. Finally, OneAscent Financial Services LLC bought a new stake in shares of Edison International in the 2nd quarter valued at approximately $692,000. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Truist Financial dropped their price objective on Edison International from $81.00 to $77.00 and set a “hold” rating on the stock in a report on Tuesday, August 4th. JPMorgan Chase & Co. lifted 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. Barclays reissued an “equal weight” rating and issued a $75.00 target price (down from $78.00) on shares of Edison International in a research report on Friday, July 31st. Morgan Stanley dropped their price target on shares of Edison International from $69.00 to $65.00 and set an “underweight” rating on the stock in a research note on Friday. Finally, Mizuho raised their price target on shares of Edison International from $79.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $72.45.

Edison International Stock Performance

NYSE:EIX opened at $71.51 on Monday. The firm has a market capitalization of $27.52 billion, a PE ratio of 7.37, a PEG ratio of 5.56 and a beta of 0.66. Edison International has a 1 year low of $52.00 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 firm’s fifty day simple moving average is $74.13 and its 200 day simple moving average is $72.05.

Edison International (NYSE:EIX) last released its earnings results on Thursday, July 30th. The utilities provider reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.36. Edison International had a net margin of 20.30% and a return on equity of 15.53%. 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 business earned $0.97 EPS. The business’s 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. On average, sell-side analysts anticipate that Edison International will post 6.13 EPS for the current year.

Edison International Announces Dividend

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

Edison International Company 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.