Meeder Asset Management Inc. Makes New $11.42 Million Investment in Edison International $EIX

Meeder Asset Management Inc. bought a new position in Edison International (NYSE:EIX) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 153,358 shares of the utilities provider’s stock, valued at approximately $11,418,000.

Several other institutional investors and hedge funds also recently made changes to their positions in EIX. BlackRock Inc. bought a new position in shares of Edison International during the second quarter valued at about $3,340,412,000. AQR Capital Management LLC grew its position in Edison International by 69.9% in the 4th 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 in the last quarter. Norges Bank bought a new stake in Edison International in the 4th quarter worth about $339,311,000. Bank of New York Mellon Corp purchased a new stake in Edison International in the 2nd quarter valued at about $309,361,000. Finally, Deutsche Bank AG purchased a new stake in Edison International in the 2nd quarter valued at about $167,095,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Stock Performance

Shares of EIX opened at $71.27 on Tuesday. Edison International has a 52-week low of $52.00 and a 52-week high of $81.62. The stock’s 50-day simple moving average is $74.03 and its 200 day simple moving average is $71.73. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.61 and a current ratio of 0.66. The stock has a market capitalization of $27.43 billion, a price-to-earnings ratio of 7.35, a price-to-earnings-growth ratio of 5.54 and a beta of 0.66.

Edison International (NYSE:EIX) last posted its earnings results on Thursday, July 30th. The utilities provider reported $1.54 earnings per share 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 business had revenue of $4.36 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the previous year, the firm earned $0.97 EPS. The company’s quarterly 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. Research analysts forecast that Edison International will post 6.13 EPS for the current fiscal year.

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, July 7th were paid a dividend of $0.8775 per share. The ex-dividend date of this dividend was Tuesday, July 7th. This represents a $3.51 annualized dividend and a yield of 4.9%. Edison International’s payout ratio is currently 36.19%.

Wall Street Analysts Forecast Growth

EIX has been the topic of several recent analyst reports. Truist Financial dropped their target price on shares of Edison International from $81.00 to $77.00 and set a “hold” rating on the stock in a research report on Tuesday, August 4th. Mizuho upped their target price on Edison International from $79.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Weiss Ratings downgraded Edison International from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, August 12th. Bank of America cut their price target on shares of Edison International from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Finally, Seaport Research Partners lowered shares of Edison International from a “buy” rating to a “neutral” rating in a research report on Monday, April 20th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Edison International has a consensus rating of “Hold” and an average price target of $72.82.

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.