Hennessy Advisors Inc. Buys New Shares in Edison International $EIX

Hennessy Advisors Inc. purchased a new position in shares of Edison International (NYSE:EIX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,881 shares of the utilities provider’s stock, valued at approximately $1,852,000.

A number of other large investors also recently bought and sold shares of EIX. New Mexico Educational Retirement Board boosted its holdings in shares of Edison International by 6.7% in the 2nd quarter. New Mexico Educational Retirement Board now owns 19,152 shares of the utilities provider’s stock valued at $1,426,000 after purchasing an additional 1,200 shares during the last quarter. Mufg Securities Americas Inc. increased its holdings in shares of Edison International by 8.9% during the 2nd quarter. Mufg Securities Americas Inc. now owns 11,590 shares of the utilities provider’s stock worth $863,000 after buying an additional 943 shares during the last quarter. Nissay Asset Management Corp Japan raised its position in shares of Edison International by 2.9% in the 2nd quarter. Nissay Asset Management Corp Japan now owns 52,519 shares of the utilities provider’s stock worth $3,910,000 after buying an additional 1,484 shares during the period. Hsbc Holdings PLC raised its position in shares of Edison International by 0.6% in the 2nd quarter. Hsbc Holdings PLC now owns 3,507,101 shares of the utilities provider’s stock worth $261,275,000 after buying an additional 22,057 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Edison International by 6.5% in the second quarter. Wellington Management Group LLP now owns 512,083 shares of the utilities provider’s stock valued at $38,125,000 after acquiring an additional 31,296 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on EIX. Argus reissued a “hold” rating on shares of Edison International in a research report on Wednesday, August 26th. Truist Financial reduced their price objective on Edison International from $81.00 to $77.00 and set a “hold” rating on the stock in a research note on Tuesday, August 4th. JPMorgan Chase & Co. boosted their target price on Edison International from $75.00 to $76.00 and gave the stock a “neutral” rating in a report on Friday, May 15th. Mizuho increased their target price on shares of Edison International from $79.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Finally, Morgan Stanley cut their price target on shares of Edison International from $69.00 to $65.00 and set an “underweight” rating on the stock in a report on Friday, August 21st. Four equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $72.45.

Edison International Trading Down 0.1%

NYSE:EIX opened at $70.09 on Monday. The company has a market cap of $26.97 billion, a PE ratio of 7.23, a P/E/G ratio of 5.45 and a beta of 0.66. The business’s 50 day moving average is $74.30 and its two-hundred day moving average is $72.41. 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 52 week low of $52.00 and a 52 week high of $81.62.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Thursday, July 30th. The utilities provider reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.36. Edison International had a return on equity of 15.53% and a net margin of 20.30%.The business had revenue of $4.36 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same period in the prior year, the company posted $0.97 EPS. The business’s revenue was down 4.1% compared to the same quarter last year. 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 EPS for the current year.

Edison International Dividend Announcement

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

About Edison International

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.