Perigon Wealth Management LLC Purchases New Position in Edison International $EIX

Perigon Wealth Management LLC acquired a new position in Edison International (NYSE:EIX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,675 shares of the utilities provider’s stock, valued at approximately $944,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Edison International in the 2nd quarter valued at $278,000. Focused Wealth Management Inc acquired a new position in Edison International during the second quarter worth $365,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Edison International during the second quarter worth $68,981,000. OneDigital Investment Advisors LLC bought a new position in Edison International during the second quarter valued at about $287,000. Finally, Plato Investment Management Ltd bought a new position in Edison International during the second quarter valued at about $2,784,000. Institutional investors own 88.95% of the company’s stock.

Analyst Ratings Changes

EIX has been the topic of a number of analyst reports. Mizuho increased their price objective on Edison International from $79.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Truist Financial reduced their target price on Edison International from $81.00 to $77.00 and set a “hold” rating for the company in a report on Tuesday, August 4th. Barclays reiterated an “equal weight” rating and set a $75.00 price target (down from $78.00) on shares of Edison International in a report on Friday, July 31st. Morgan Stanley restated an “underweight” rating and issued a $69.00 price objective on shares of Edison International in a research note on Wednesday, July 22nd. Finally, Wells Fargo & Company reaffirmed an “underweight” rating and set a $62.00 price objective on shares of Edison International in a report on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Edison International currently has an average rating of “Hold” and an average price target of $72.82.

Edison International Price Performance

Shares of NYSE:EIX opened at $73.73 on Wednesday. The firm has a market capitalization of $28.37 billion, a PE ratio of 7.60, a PEG ratio of 5.54 and a beta of 0.66. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 1.95. Edison International has a 1-year low of $52.00 and a 1-year high of $81.62. The business’s 50 day moving average is $74.08 and its 200-day moving average is $71.81.

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, topping the consensus estimate of $1.18 by $0.36. The firm had revenue of $4.36 billion during 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 company’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.97 earnings per share. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. Sell-side analysts predict that Edison International will post 6.13 earnings per share for the current year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, July 7th were given a $0.8775 dividend. This represents a $3.51 annualized dividend and a yield of 4.8%. The ex-dividend date was Tuesday, July 7th. Edison International’s dividend payout ratio (DPR) is presently 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.