Renaissance Technologies LLC Cuts Holdings in Edison International $EIX

Renaissance Technologies LLC lowered its position in Edison International (NYSE:EIX) by 89.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,500 shares of the utilities provider’s stock after selling 424,400 shares during the quarter. Renaissance Technologies LLC’s holdings in Edison International were worth $3,622,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in EIX. 10Elms LLP purchased a new position in shares of Edison International in the 4th quarter worth about $26,000. Transamerica Financial Advisors LLC grew its holdings in shares of Edison International by 170.3% during the 4th quarter. Transamerica Financial Advisors LLC now owns 446 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 281 shares during the period. Quest 10 Wealth Builders Inc. increased its position in Edison International by 866.7% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 783 shares of the utilities provider’s stock worth $47,000 after purchasing an additional 702 shares in the last quarter. DV Equities LLC acquired a new stake in Edison International during the 4th quarter worth approximately $52,000. Finally, McMillan Office Inc. purchased a new position in Edison International in the fourth quarter valued at approximately $55,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Stock Up 2.0%

Shares of NYSE:EIX opened at $68.57 on Friday. The company has a market capitalization of $26.39 billion, a price-to-earnings ratio of 7.07, a price-to-earnings-growth ratio of 5.22 and a beta of 0.66. The company has a 50 day moving average of $74.17 and a two-hundred day moving average of $71.29. Edison International has a 52-week low of $52.00 and a 52-week high of $81.62. 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 (NYSE:EIX) last posted its earnings results 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 analysts’ expectations of $4.82 billion. Edison International had a net margin of 20.30% and a return on equity of 15.53%. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.97 earnings per share. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. As a group, analysts forecast that Edison International will post 6.13 earnings per share for the current fiscal year.

Edison International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, July 7th were issued a $0.8775 dividend. The ex-dividend date was Tuesday, July 7th. This represents a $3.51 dividend on an annualized basis and a yield of 5.1%. Edison International’s payout ratio is currently 36.19%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on EIX. Seaport Research Partners cut shares of Edison International from a “buy” rating to a “neutral” rating in a research report on Monday, April 20th. Mizuho raised their target price on shares of Edison International from $79.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Truist Financial reduced their target price on shares of Edison International from $81.00 to $77.00 and set a “hold” rating on the stock in a report on Tuesday. Morgan Stanley reaffirmed an “underweight” rating and set a $69.00 price target on shares of Edison International in a research report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. increased their price target on Edison International from $75.00 to $76.00 and gave the company a “neutral” rating in a report on Friday, May 15th. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Edison International has a consensus rating of “Hold” and a consensus target price of $72.82.

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.