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Edison International - EIX STOCK NEWS

Welcome to our dedicated page for Edison International news (Ticker: EIX), a resource for investors and traders seeking the latest updates and insights on Edison International stock.

Edison International (EIX), headquartered in Rosemead, California, is a premier energy company with a primary focus on generating and distributing electric power. As the parent company of Southern California Edison (SCE), it serves over 5 million customers across 50,000 square miles of Southern California, excluding Los Angeles. Southern California Edison is among the nation's largest electric utilities, providing reliable and affordable electricity to millions.

In addition to its utility operations, Edison International invests in infrastructure and energy assets, with a significant emphasis on renewable energy. The company’s non-utility subsidiary, Edison Energy, engages in energy-related products and services, further diversifying its portfolio.

Recently, Edison International has been at the forefront of efforts to combat climate change and advance clean energy solutions. Notable achievements include the installation of a 646-kilowatt solar system at The Knolls, an affordable apartment complex, significantly reducing its residents' carbon footprint and energy costs. The company has also been active in publishing influential policy recommendations, such as the 'Mind the Gap' report, which outlines strategies to achieve California's 2045 net-zero emissions target.

Edison International is committed to transforming California's electric system to support the integration of clean energy resources. This involves innovative planning across generation, transmission, distribution, and local resources. Challenges like interconnection bottlenecks and the need for advanced transmission infrastructure are being addressed through collaborative efforts with state agencies and stakeholders.

The company is also focusing on de-risking the development of emerging clean technologies, such as offshore wind and clean firm generation, to ensure a reliable and flexible power supply. Initiatives like the Solar on Multifamily Affordable Housing program exemplify Edison International's dedication to promoting sustainability and cost savings for all customers.

Financially, Edison International remains robust, with strategic investments and partnerships driving its growth. The company continues to advocate for regulatory reforms to expedite the deployment of essential clean energy infrastructure, aligning with its long-term vision of a resilient, cost-effective, and environmentally sustainable energy system.

As a leader in the energy sector, Edison International plays a critical role in shaping a cleaner, more sustainable future, making significant strides towards achieving California's ambitious climate goals while ensuring the reliability and affordability of electricity for its customers.

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Edison International (EIX) announced its Second Quarter 2021 Financial Results during a conference call on July 29, 2021. The company, which operates as one of the largest electric utility holding firms in the United States, serves 15 million customers across California. Through its subsidiaries, Southern California Edison and Edison Energy, Edison aims to provide sustainable energy solutions. Investors can access the earnings call replay until August 12, 2021, via specified telephone numbers. Detailed financial metrics were not disclosed in the PR.

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The Board of Directors of Edison International (NYSE: EIX) declared a quarterly common stock dividend of $0.6625 per share. This dividend will be payable on July 31, 2021, to shareholders of record as of July 6, 2021. Edison International is one of the largest electric utility holding companies in the U.S., providing clean energy through its subsidiaries, including Southern California Edison, which serves approximately 15 million customers in California.

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Southern California Edison (EIX) has completed upgrades to the West of Devers transmission lines, enhancing capacity to deliver over 7,000 MW of renewable energy to Southern California. The project, costing $740 million, increased power delivery capacity from 1,600 MW to 4,800 MW and is crucial for meeting peak summer demand. SCE partnered with Morongo Transmission for part of the funding, with $400 million expected post-regulatory approval. This project was completed ahead of schedule, emphasizing SCE’s commitment to advancing California’s clean energy goals.

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Southern California Edison is funding nearly $18 million to lease three helicopters for local firefighting agencies, enhancing wildfire response capabilities. The aircraft, which include two Coulson-Unical CH-47 helitankers and a Sikorsky-61 helitanker, will be operational from June 15 to year-end across a 50,000-square-mile service area. This initiative follows a significant 2020 fire season and marks an ongoing commitment to wildfire mitigation. The Los Angeles County, Orange County, and Ventura County Fire Departments will manage the helicopters upon board approval.

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Edison International (NYSE: EIX) reported a net income of $259 million ($0.68 per share) for Q1 2021, up from $183 million ($0.50 per share) in Q1 2020. Core earnings also rose to $301 million ($0.79 per share) compared to $228 million ($0.63 per share) the previous year. The increase is attributed to lower wildfire mitigation expenses. SCE anticipates enhancing fire risk management and infrastructure investments amid the transition to a clean energy economy. 2021 earnings guidance will be provided post CPUC's decision on Southern California Edison’s rate case.

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Southern California Edison is promoting its Medical Baseline program to assist eligible customers who depend on electricity for essential medical equipment. The program allows these customers to receive additional electricity at lower rates, ultimately helping them reduce their energy bills. Simplified online qualification processes due to COVID-19 will remain in effect until June 30, and existing participants are not required to recertify for another year. The program also offers backup battery solutions for those in high fire risk areas, ensuring critical support during outages.

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The Board of Directors of Southern California Edison declared quarterly and semiannual dividends on various preference stocks. The quarterly dividends include:

  • $0.31875 on Series G
  • $0.359375 on Series H
  • $0.3359375 on Series J
  • $0.340625 on Series K
  • $0.3125 on Series L

These are payable on June 15, 2021, to shareholders of record on June 14, 2021. Additionally, a semiannual dividend of $31.25 per share on Series E will be paid on August 1, 2021, to shareholders of record on July 2, 2021.

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The Hershey Company (NYSE: HSY) has announced two significant clean energy partnerships aimed at transitioning to renewable energy. The first project, a 20 MW solar farm in Camden, North Carolina, will reduce CO2 emissions by 32,025 metric tons annually. The second project involves a 50 MW solar power agreement with National Grid Renewables for the Noble Project in Texas, projected to lower CO2 emissions by approximately 83,625 metric tons per year. Together, these projects will decrease Hershey's carbon footprint by 115,650 metric tons annually, aligning with their goals to cut greenhouse gas emissions by over 50% by 2030.

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In 2021, Edison International will award $1.2 million in scholarships to thirty high school seniors in its service area as part of the Edison Scholars Program, supporting STEM education. Each student will receive $40,000 over four years to attend accredited U.S. colleges. Since its inception in 2006, the program has distributed over $12 million to 700 students. Funded entirely by shareholders, the initiative does not use customer utility payments. A virtual reception will celebrate the scholars on May 21, 2021.

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FAQ

What is the current stock price of Edison International (EIX)?

The current stock price of Edison International (EIX) is $50.06 as of February 14, 2025.

What is the market cap of Edison International (EIX)?

The market cap of Edison International (EIX) is approximately 19.9B.

What is Edison International?

Edison International is a leading energy company focused on generating and distributing electric power through its subsidiaries, primarily Southern California Edison.

Where is Edison International headquartered?

Edison International is headquartered in Rosemead, California.

Who are the customers of Southern California Edison?

Southern California Edison serves over 5 million customers across a 50,000-square-mile area of Southern California, excluding Los Angeles.

What are Edison International's recent achievements?

Recent achievements include the installation of a 646-kilowatt solar system at The Knolls apartment complex and publishing the 'Mind the Gap' report with policy recommendations for achieving net-zero emissions by 2045.

How is Edison International contributing to clean energy solutions?

Edison International invests in renewable energy, develops clean technology projects, and promotes sustainability initiatives such as the Solar on Multifamily Affordable Housing program.

What is the 'Mind the Gap' report?

The 'Mind the Gap' report is a policy document published by Edison International that outlines strategies to achieve California's 2045 net-zero emissions target.

How does Edison International address interconnection challenges?

Edison International collaborates with state agencies and stakeholders to reform interconnection processes, ensuring timely and cost-effective upgrades to the transmission grid.

What are Edison International's future goals?

Edison International aims to achieve California's 2045 net-zero emissions target by advancing clean energy technologies, enhancing infrastructure, and advocating for regulatory reforms.

What role does Edison Energy play in Edison International's operations?

Edison Energy focuses on non-utility businesses that provide energy-related products and services, diversifying Edison International's portfolio and supporting its clean energy initiatives.

How does Edison International ensure the reliability of its power supply?

Edison International invests in emerging technologies and infrastructure, such as offshore wind and clean firm generation, to maintain a reliable and flexible power supply while supporting the clean energy transition.
Edison International

NYSE:EIX

EIX Rankings

EIX Stock Data

19.95B
386.44M
0.18%
90.91%
1.56%
Utilities - Regulated Electric
Electric Services
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United States
ROSEMEAD