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The board approved a quarterly payment of $0.8775 per share. For a utility like this, steady dividends are a core part of why people own the stock, as they provide a predictable return while the company invests in the power grid. This payment is consistent with previous levels and will go to shareholders of record as of October 7.
Source: Business Wire
UBS set its target at $57, which is slightly above where the stock is currently trading. This follows a month of adjustments from other firms, including Jefferies and Truist, who lowered their targets to between $53 and $63. The average target across all analysts now sits at $64, suggesting they generally see the stock as fairly valued or slightly underpriced at current levels.
Source: UBS
California legislators ended a session without passing a bill that would have addressed how utilities pay for wildfire damages. The stock fell sharply when the legislation was first introduced but recovered some ground once it became clear the bill would not move forward in its current form.
For a utility like Edison, wildfire liability is a constant risk because state law can hold them responsible for fires started by their equipment even if they weren't negligent. The failure to pass a clear solution means the company remains exposed to high insurance costs and potential legal claims, which can eat into the cash they need to upgrade the power grid.
Source: Barrons
Management has a clear habit of under-promising and over-delivering, having exceeded their own profit targets in seven of the last eight quarters. This track record makes their long-term growth forecasts feel highly reliable.
| Expectation | |
|---|---|
| EPS | $2.03 |
| Revenue | $5.46B |
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