Allspring Global Investments Holdings LLC Has $1.49 Million Stock Position in Edison International $EIX

Allspring Global Investments Holdings LLC lowered its stake in shares of Edison International (NYSE:EIX) by 82.8% during the first quarter, Holdings Channel reports. The fund owned 20,220 shares of the utilities provider’s stock after selling 97,663 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Edison International were worth $1,488,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Equitable Trust Co. increased its holdings in shares of Edison International by 0.8% in the first quarter. Equitable Trust Co. now owns 19,616 shares of the utilities provider’s stock valued at $1,435,000 after purchasing an additional 148 shares in the last quarter. UMB Bank n.a. raised its position in shares of Edison International by 5.3% during the fourth quarter. UMB Bank n.a. now owns 3,169 shares of the utilities provider’s stock worth $190,000 after acquiring an additional 159 shares during the last quarter. LVW Advisors LLC lifted its stake in shares of Edison International by 4.6% during the fourth quarter. LVW Advisors LLC now owns 4,224 shares of the utilities provider’s stock valued at $254,000 after acquiring an additional 186 shares during the period. Sterling Group Wealth Management LLC lifted its stake in shares of Edison International by 2.7% during the first quarter. Sterling Group Wealth Management LLC now owns 7,213 shares of the utilities provider’s stock valued at $528,000 after acquiring an additional 190 shares during the period. Finally, Huntington National Bank boosted its holdings in Edison International by 6.2% in the fourth quarter. Huntington National Bank now owns 3,351 shares of the utilities provider’s stock valued at $201,000 after acquiring an additional 196 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Performance

Shares of EIX stock opened at $79.71 on Monday. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.68 and a current ratio of 0.74. Edison International has a 52 week low of $51.01 and a 52 week high of $80.90. The company’s 50 day moving average price is $73.56 and its two-hundred day moving average price is $70.45. The company has a market capitalization of $30.67 billion, a P/E ratio of 8.65, a price-to-earnings-growth ratio of 6.20 and a beta of 0.66.

Edison International (NYSE:EIX) last released its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.10. The company had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Edison International had a net margin of 19.27% and a return on equity of 14.56%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.37 earnings per share. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. On average, analysts expect that Edison International will post 6.13 earnings per share for the current fiscal year.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, July 7th will be paid a $0.8775 dividend. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a $3.51 annualized dividend and a dividend yield of 4.4%. Edison International’s dividend payout ratio (DPR) is currently 38.11%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Edison International from $75.00 to $76.00 and gave the stock a “neutral” rating in a report on Friday, May 15th. Barclays boosted their price target on shares of Edison International from $77.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Truist Financial cut their price objective on shares of Edison International from $82.00 to $79.00 and set a “hold” rating on the stock in a report on Monday, May 18th. Morgan Stanley reaffirmed an “underweight” rating and issued a $69.00 price objective on shares of Edison International in a research note on Wednesday. Finally, Bank of America lowered their target price on shares of Edison International from $80.00 to $78.00 and set a “buy” rating for the company in a report on Monday, April 20th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $72.64.

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.