Edison International (NYSE:EIX – Get Rating) – KeyCorp increased their Q3 2022 earnings per share (EPS) estimates for Edison International in a research report issued on Tuesday, August 2nd. KeyCorp analyst S. Karp now anticipates that the utilities provider will post earnings of $1.73 per share for the quarter, up from their previous forecast of $1.72. The consensus estimate for Edison International’s current full-year earnings is $4.40 per share. KeyCorp also issued estimates for Edison International’s Q4 2022 earnings at $0.84 EPS and FY2026 earnings at $5.79 EPS.
Several other research analysts also recently commented on the company. Mizuho downgraded Edison International from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $82.00 to $72.00 in a report on Tuesday, May 10th. UBS Group decreased their price objective on Edison International from $73.00 to $68.00 and set a “neutral” rating on the stock in a report on Thursday, June 30th. Royal Bank of Canada lifted their price objective on Edison International from $73.00 to $82.00 and gave the stock an “outperform” rating in a report on Thursday, April 14th. Citigroup boosted their price target on Edison International from $67.00 to $79.00 in a report on Wednesday, May 4th. Finally, Bank of America restated an “underperform” rating on shares of Edison International in a report on Thursday, July 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to MarketBeat, Edison International currently has a consensus rating of “Hold” and an average target price of $72.75.
Edison International Stock Up 1.0 %
Edison International (NYSE:EIX – Get Rating) last issued its quarterly earnings results on Thursday, July 28th. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.04. The firm had revenue of $4.01 billion during the quarter, compared to analyst estimates of $3.57 billion. Edison International had a return on equity of 12.42% and a net margin of 3.63%. The company’s revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.94 earnings per share.
Edison International Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Sunday, July 31st. Shareholders of record on Tuesday, July 5th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, July 1st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.04%. Edison International’s dividend payout ratio (DPR) is 212.12%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. boosted its position in shares of Edison International by 4.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 236,799 shares of the utilities provider’s stock worth $14,975,000 after purchasing an additional 11,142 shares in the last quarter. CIBC Private Wealth Group LLC bought a new stake in shares of Edison International in the 2nd quarter worth approximately $101,000. Janney Montgomery Scott LLC boosted its position in shares of Edison International by 1.8% in the 2nd quarter. Janney Montgomery Scott LLC now owns 97,586 shares of the utilities provider’s stock worth $6,142,000 after purchasing an additional 1,735 shares in the last quarter. AE Wealth Management LLC boosted its position in shares of Edison International by 52.9% in the 2nd quarter. AE Wealth Management LLC now owns 123,770 shares of the utilities provider’s stock worth $7,827,000 after purchasing an additional 42,822 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its position in Edison International by 0.4% in the 2nd quarter. Retirement Systems of Alabama now owns 126,373 shares of the utilities provider’s stock valued at $7,992,000 after acquiring an additional 499 shares in the last quarter. Hedge funds and other institutional investors own 87.89% of the company’s stock.
About Edison International
Edison International, through its subsidiaries, generates and distributes electric power. It delivers electricity to 15 million residential, commercial, industrial, public authorities, agricultural, and other customers across Southern, Central, and Coastal California. The company also provides energy solutions to commercial and industrial users.
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