Bank of Nova Scotia Raises Position in Edison International $EIX

Bank of Nova Scotia boosted its holdings in Edison International (NYSE:EIX) by 743.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 339,458 shares of the utilities provider’s stock after purchasing an additional 299,215 shares during the period. Bank of Nova Scotia owned approximately 0.09% of Edison International worth $18,765,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in EIX. Activest Wealth Management increased its holdings in shares of Edison International by 677.8% in the third quarter. Activest Wealth Management now owns 560 shares of the utilities provider’s stock worth $31,000 after buying an additional 488 shares during the period. CVA Family Office LLC boosted its holdings in Edison International by 113.7% during the 3rd quarter. CVA Family Office LLC now owns 577 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 307 shares during the period. Laurel Wealth Advisors LLC boosted its holdings in Edison International by 5,064.3% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 723 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 709 shares during the period. CoreFirst Bank & Trust bought a new position in Edison International during the 2nd quarter worth approximately $38,000. Finally, Quent Capital LLC bought a new position in Edison International during the 3rd quarter worth approximately $40,000. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Trading Up 1.7%

EIX opened at $72.96 on Tuesday. Edison International has a one year low of $47.73 and a one year high of $75.50. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.73 and a quick ratio of 0.68. The business has a 50 day simple moving average of $66.76 and a two-hundred day simple moving average of $60.44. The firm has a market capitalization of $28.08 billion, a price-to-earnings ratio of 6.31, a PEG ratio of 1.16 and a beta of 0.79.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Wednesday, February 18th. The utilities provider reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.40. Edison International had a return on equity of 14.87% and a net margin of 24.34%.The firm had revenue of $5.21 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same period last year, the company earned $1.05 EPS. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS and its FY 2027 guidance at 6.250-6.650 EPS. Analysts predict that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, April 7th will be issued a $0.8775 dividend. The ex-dividend date is Tuesday, April 7th. This represents a $3.51 annualized dividend and a yield of 4.8%. Edison International’s payout ratio is 30.36%.

Analysts Set New Price Targets

EIX has been the subject of several recent research reports. LADENBURG THALM/SH SH reiterated a “sell” rating and issued a $63.00 price objective on shares of Edison International in a research report on Thursday, March 5th. JPMorgan Chase & Co. raised their target price on shares of Edison International from $65.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday, January 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Edison International in a research note on Monday, December 29th. Wells Fargo & Company lowered shares of Edison International from an “equal weight” rating to an “underweight” rating and upped their price target for the company from $56.00 to $59.00 in a report on Tuesday, January 20th. Finally, TD Cowen increased their price target on shares of Edison International from $71.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $68.56.

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.