First Citizens Bank & Trust Co. Makes New $2.06 Million Investment in Edison International $EIX

First Citizens Bank & Trust Co. purchased a new stake in shares of Edison International (NYSE:EIX) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 28,188 shares of the utilities provider’s stock, valued at approximately $2,063,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. ABN Amro Investment Solutions grew its holdings in Edison International by 3.6% in the 1st quarter. ABN Amro Investment Solutions now owns 35,069 shares of the utilities provider’s stock worth $2,566,000 after buying an additional 1,212 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Edison International by 11.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 66,605 shares of the utilities provider’s stock valued at $4,874,000 after acquiring an additional 6,729 shares in the last quarter. Oslo Pensjonsforsikring AS bought a new stake in Edison International during the 1st quarter valued at $500,000. Andra AP fonden boosted its position in Edison International by 11.6% during the 1st quarter. Andra AP fonden now owns 264,996 shares of the utilities provider’s stock worth $19,392,000 after acquiring an additional 27,596 shares during the period. Finally, Cassaday & Co Wealth Management LLC bought a new stake in shares of Edison International during the first quarter valued at about $96,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on EIX shares. Truist Financial lowered their target price on shares of Edison International from $82.00 to $79.00 and set a “hold” rating on the stock in a research note on Monday, May 18th. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $62.00 price target on shares of Edison International in a research note on Tuesday, April 21st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Edison International in a report on Monday, July 13th. Morgan Stanley reiterated an “underweight” rating and set a $69.00 price objective on shares of Edison International in a research note on Wednesday. Finally, Barclays boosted their target price on Edison International from $77.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Edison International has a consensus rating of “Hold” and an average target price of $72.64.

Edison International Stock Performance

NYSE:EIX opened at $80.45 on Thursday. Edison International has a twelve month low of $51.01 and a twelve month high of $80.90. The company has a current ratio of 0.74, a quick ratio of 0.68 and a debt-to-equity ratio of 1.98. The company has a 50-day moving average of $73.18 and a 200-day moving average of $70.19. The firm has a market cap of $30.96 billion, a price-to-earnings ratio of 8.74, a price-to-earnings-growth ratio of 6.07 and a beta of 0.66.

Edison International (NYSE:EIX) last released its earnings results on Tuesday, April 28th. The utilities provider reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.10. Edison International had a net margin of 19.27% and a return on equity of 14.56%. The business had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same period in the previous year, the firm earned $1.37 EPS. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. Analysts forecast that Edison International will post 6.13 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, July 7th will be given a $0.8775 dividend. The ex-dividend date is Tuesday, July 7th. This represents a $3.51 annualized dividend and a yield of 4.4%. Edison International’s payout ratio is 38.11%.

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.