Kingsview Wealth Management LLC Purchases Shares of 7,753 Edison International $EIX

Kingsview Wealth Management LLC purchased a new stake in Edison International (NYSE:EIX) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 7,753 shares of the utilities provider’s stock, valued at approximately $577,000.

A number of other hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in Edison International in the 2nd quarter valued at approximately $3,340,412,000. AQR Capital Management LLC lifted its stake in Edison International by 69.9% during the fourth quarter. AQR Capital Management LLC now owns 18,285,152 shares of the utilities provider’s stock worth $1,097,475,000 after purchasing an additional 7,521,168 shares in the last quarter. Norges Bank purchased a new position in shares of Edison International during the fourth quarter worth $339,311,000. Legal & General Group Plc purchased a new position in shares of Edison International during the second quarter worth $329,766,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Edison International in the second quarter valued at $309,361,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Stock Performance

Shares of EIX opened at $70.09 on Monday. Edison International has a 1 year low of $52.00 and a 1 year high of $81.62. The stock has a market capitalization of $26.97 billion, a PE ratio of 7.23, a PEG ratio of 5.45 and a beta of 0.66. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.61 and a current ratio of 0.66. The stock has a 50-day simple moving average of $74.30 and a 200-day simple moving average of $72.41.

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. The firm had revenue of $4.36 billion for the quarter, compared to analyst estimates of $4.82 billion. Edison International had a net margin of 20.30% and a return on equity of 15.53%. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.97 earnings per share. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. On average, analysts predict that Edison International will post 6.13 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, July 7th were given a $0.8775 dividend. The ex-dividend date of this dividend was Tuesday, July 7th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.0%. Edison International’s dividend payout ratio is currently 36.19%.

Analysts Set New Price Targets

EIX has been the topic of several research reports. Weiss Ratings raised Edison International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. Argus reiterated a “hold” rating on shares of Edison International in a research note on Wednesday, August 26th. JPMorgan Chase & Co. increased their price target on shares of Edison International from $75.00 to $76.00 and gave the stock a “neutral” rating in a research report on Friday, May 15th. Truist Financial lowered their price objective on shares of Edison International from $81.00 to $77.00 and set a “hold” rating for the company in a research note on Tuesday, August 4th. Finally, Barclays reaffirmed an “equal weight” rating and set a $75.00 target price (down from $78.00) on shares of Edison International in a research note on Friday, July 31st. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Edison International presently has an average rating of “Hold” and an average price target of $72.45.

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.