Edison International (NYSE:EIX) Reaches New 52-Week High – Here’s Why

Edison International (NYSE:EIX)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $77.02 and last traded at $76.3010, with a volume of 383239 shares changing hands. The stock had previously closed at $75.20.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Seaport Research Partners lowered Edison International from a “buy” rating to a “neutral” rating in a research report on Monday, April 20th. JPMorgan Chase & Co. boosted their price target on shares of Edison International from $75.00 to $76.00 and gave the stock a “neutral” rating in a report on Friday, May 15th. Bank of America reduced their price objective on shares of Edison International from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Weiss Ratings raised shares of Edison International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, April 15th. Finally, Wells Fargo & Company reiterated an “underweight” rating and issued a $62.00 target price on shares of Edison International in a research report on Tuesday, April 21st. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $72.64.

Edison International Price Performance

The company has a debt-to-equity ratio of 1.98, a current ratio of 0.74 and a quick ratio of 0.68. The stock has a market capitalization of $29.26 billion, a price-to-earnings ratio of 8.26, a price-to-earnings-growth ratio of 1.30 and a beta of 0.66. The stock has a 50 day moving average price of $71.91 and a 200-day moving average price of $69.20.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.42 EPS for the quarter, beating the consensus estimate of $1.32 by $0.10. The firm had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.15 billion. Edison International had a return on equity of 14.56% and a net margin of 19.27%.The firm’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.37 EPS. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. On average, analysts forecast that Edison International will post 6.12 earnings per share for the current year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, July 7th will be issued a dividend of $0.8775 per share. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 4.6%. Edison International’s dividend payout ratio is presently 38.11%.

Hedge Funds Weigh In On Edison International

Several hedge funds and other institutional investors have recently modified their holdings of EIX. Bank & Trust Co boosted its position in Edison International by 12.4% during the second quarter. Bank & Trust Co now owns 6,285 shares of the utilities provider’s stock worth $468,000 after acquiring an additional 693 shares during the last quarter. Tema ETFs LLC grew its stake in Edison International by 10.3% during the 2nd quarter. Tema ETFs LLC now owns 7,766 shares of the utilities provider’s stock valued at $578,000 after acquiring an additional 725 shares in the last quarter. KWB Wealth raised its holdings in Edison International by 25.3% in the 2nd quarter. KWB Wealth now owns 16,824 shares of the utilities provider’s stock valued at $1,253,000 after acquiring an additional 3,401 shares during the last quarter. Paladin Wealth LLC raised its holdings in Edison International by 6.3% in the 2nd quarter. Paladin Wealth LLC now owns 3,035 shares of the utilities provider’s stock valued at $226,000 after acquiring an additional 181 shares during the last quarter. Finally, Finivi Inc. lifted its stake in Edison International by 11.6% in the 2nd quarter. Finivi Inc. now owns 3,615 shares of the utilities provider’s stock worth $269,000 after purchasing an additional 377 shares in the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

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.