CoreCap Advisors LLC Boosts Stake in Edison International $EIX

CoreCap Advisors LLC lifted its stake in shares of Edison International (NYSE:EIX) by 6,356.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 80,959 shares of the utilities provider’s stock after purchasing an additional 79,705 shares during the quarter. CoreCap Advisors LLC’s holdings in Edison International were worth $6,027,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Edison International by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 52,220,399 shares of the utilities provider’s stock valued at $3,134,268,000 after purchasing an additional 480,726 shares during the last quarter. State Street Corp increased its stake in shares of Edison International by 3.0% in the fourth quarter. State Street Corp now owns 33,141,204 shares of the utilities provider’s stock worth $1,989,135,000 after acquiring an additional 953,800 shares during the period. AQR Capital Management LLC raised its holdings in shares of Edison International by 69.9% during the fourth quarter. AQR Capital Management LLC now owns 18,285,152 shares of the utilities provider’s stock worth $1,097,475,000 after purchasing an additional 7,521,168 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Edison International by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 13,018,379 shares of the utilities provider’s stock valued at $803,407,000 after purchasing an additional 386,905 shares during the last quarter. Finally, Northern Trust Corp grew its position in Edison International by 12.3% during the 4th quarter. Northern Trust Corp now owns 6,070,324 shares of the utilities provider’s stock worth $364,341,000 after purchasing an additional 662,477 shares during the period. 88.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on EIX shares. Weiss Ratings restated a “buy (b-)” rating on shares of Edison International in a research note on Monday, July 13th. Morgan Stanley reaffirmed an “underweight” rating and set a $69.00 price objective on shares of Edison International in a research note on Wednesday, July 22nd. Wells Fargo & Company reiterated an “underweight” rating and issued a $62.00 target price on shares of Edison International in a research note on Tuesday, April 21st. Barclays reissued 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. Finally, JPMorgan Chase & Co. upped their price objective on shares of Edison International from $75.00 to $76.00 and gave the stock a “neutral” rating in a research report on Friday, May 15th. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $72.82.

Edison International Trading Down 3.3%

Shares of EIX stock opened at $68.36 on Thursday. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.66 and a quick ratio of 0.61. The company has a market cap of $26.31 billion, a price-to-earnings ratio of 7.05, a PEG ratio of 5.49 and a beta of 0.66. The stock has a 50 day simple moving average of $74.26 and a 200-day simple moving average of $71.27. Edison International has a 1-year low of $52.00 and a 1-year high of $81.62.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, July 30th. The utilities provider reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.36. Edison International had a return on equity of 15.53% and a net margin of 20.30%.The firm had revenue of $4.36 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same quarter last year, the firm posted $0.97 EPS. The business’s revenue was down 4.1% on a year-over-year basis. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. On average, equities research analysts expect that Edison International will post 6.13 EPS for the current fiscal 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 issued a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend was Tuesday, July 7th. Edison International’s dividend payout ratio (DPR) is presently 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.