Saudi Central Bank Buys 12,741 Shares of Edison International $EIX

Saudi Central Bank raised its stake in Edison International (NYSE:EIX) by 3.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 371,944 shares of the utilities provider’s stock after buying an additional 12,741 shares during the quarter. Saudi Central Bank owned 0.10% of Edison International worth $29,091,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Avior Wealth Management LLC boosted its stake in Edison International by 4.7% during the 2nd quarter. Avior Wealth Management LLC now owns 2,956 shares of the utilities provider’s stock worth $220,000 after acquiring an additional 134 shares during the last quarter. Equitable Trust Co. grew its holdings in Edison International by 0.8% during the first quarter. Equitable Trust Co. now owns 19,616 shares of the utilities provider’s stock valued at $1,435,000 after purchasing an additional 148 shares during the period. Altshuler Shaham Ltd increased its stake in Edison International by 36.6% in the first quarter. Altshuler Shaham Ltd now owns 578 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 155 shares in the last quarter. UMB Bank n.a. increased its stake in Edison International by 5.3% in the fourth quarter. UMB Bank n.a. now owns 3,169 shares of the utilities provider’s stock valued at $190,000 after purchasing an additional 159 shares in the last quarter. Finally, Paladin Wealth LLC raised its holdings in Edison International by 6.3% in the second quarter. Paladin Wealth LLC now owns 3,035 shares of the utilities provider’s stock worth $226,000 after purchasing an additional 181 shares during the period. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Barclays reissued an “equal weight” rating and set a $75.00 price target (down from $78.00) on shares of Edison International in a research report on Friday, July 31st. Argus reaffirmed a “hold” rating on shares of Edison International in a research note on Wednesday, August 26th. JPMorgan Chase & Co. reduced their target price on Edison International from $82.00 to $61.00 and set a “neutral” rating on the stock in a report on Wednesday. Truist Financial decreased their target price on Edison International from $77.00 to $63.00 and set a “hold” rating for the company in a research note on Thursday. Finally, Bank of America downgraded Edison International from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $81.00 to $51.00 in a report on Tuesday, September 1st. Two investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Edison International currently has an average rating of “Reduce” and a consensus price target of $64.55.

Edison International Stock Up 0.6%

Edison International stock opened at $56.64 on Friday. The company has a 50 day moving average of $72.54 and a 200-day moving average of $71.96. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 1.95. Edison International has a twelve month low of $52.00 and a twelve month high of $81.62. The stock has a market capitalization of $21.80 billion, a PE ratio of 5.84, a price-to-earnings-growth ratio of 2.29 and a beta of 0.62.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Thursday, July 30th. The utilities provider reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.36. The business 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 firm’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period last year, the business posted $0.97 earnings per share. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. On average, equities research analysts anticipate that Edison International will post 6.13 EPS for the current fiscal year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, July 7th were paid a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a dividend yield of 6.2%. The ex-dividend date of this dividend was Tuesday, July 7th. Edison International’s dividend payout ratio (DPR) is currently 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.