Stock Of The Day: Time To Buy Edison International?
Edison International EIX shares are trading higher on Wednesday. Brokerage firm Ladenburg Thalman upgraded the stock from Sell to Neutral.
The Schall Law Firm Invites Shareholders With Losses To Join An Inquiry Into Edison International For Securities Fraud
LOS ANGELES, CA / ACCESSWIRE / January 15, 2025 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Edison International ("Edison" or "the Company") (NYSE:EIX) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.
Bronstein, Gewirtz & Grossman, LLC Announces an Investigation Against Edison International (EIX) and Encourages Stockholders to Learn More About the Investigation
NEW YORK, NY / ACCESSWIRE / January 15, 2025 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Edison International ("Edison" or "the Company") (NYSE:EIX). Investors who purchased Edison securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/EIX.
Edison International Is Being Investigated For Securities Law Violations And Impacted Investors Are Urged To Contact The Schall Law Firm
LOS ANGELES, CA / ACCESSWIRE / January 14, 2025 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Edison International ("Edison" or "the Company") (NYSE:EIX) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.
Bronstein, Gewirtz & Grossman, LLC Encourages Edison International (EIX) Investors to Inquire about Securities Investigation
NEW YORK, NY / ACCESSWIRE / January 14, 2025 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Edison International ("Edison" or "the Company") (NYSE:EIX). Investors who purchased Edison securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/EIX.
Edison CEO on California Wildfires, Lawsuit
Edison International Inc. President and CEO Pedro Pizarro says one set of transmission distribution lines near the origin point of the Eaton Wildfire in Los Angeles were "de-energized" before the reported start of the fire. He also says there have been no indications of any electrical anomaly ahead of the fires.
Edison International CEO on timeline for restoration of power in LA
Pedro Pizarro, Edison International CEO, discusses if a downed power line was a potential cause of the fires in California and a possible timeline for power restoration.
Edison utility's equipment blamed for helping start LA wildfires in property owners' suit
The lawsuit is on behalf of a group of homeowners, renters, business owners and others with properties destroyed by the Eaton Fire in the Pasadena area, Bloomberg reported.
Edison International CEO: Do not see anamolies pointing to power lines being the cause of CA fires
Pedro Pizarro, Edison International CEO, joins 'Money Movers' to discuss if a downed power line was a potential cause of the fires in California, the timeline for cause discovery, and much more.
Edison International: The Market May Be Overestimating The Risk From The LA Fires
Edison International, a major electric utility in Southern California, is one of the major suppliers of electricity to the disaster-ravaged Los Angeles area. The market has sold off the company's stock in the recent days, sending it down to levels last seen in October of 2023. However, the largest of the fires are not in Edison International's service territory, reducing the risk that the company will actually suffer long term damage from this event.
California wildfires send power company Edison International's stock falling
The company will likely face questions over whether any of its power lines may have contributed to the fires. No officials have made any statements on this issue.
Jefferies says market overestimating Edison wildfire exposure
Jefferies analyst Paul Zimbardo says shares of Edison International dropped 10% on Wednesday with the market effectively assuming full responsibility for the catastrophic Los Angeles fires at the damage liability cap, subject to fund availability. The firm, however, believes the market is overestimating Edison's exposure due to the Assembly Bill 1054 legislative protections. The bill established a liability cap at 20% of the electric equity rate base and a $21B claim paying fund for wildfires with reimbursement based on prudency, the analyst tells investors in a research note. Jefferies says Edison disclosed a $3.9B 2024 liability cap and it estimates $4.5B for 2025. On an after-tax basis this implies $3.2B liability, the firm points out. It believes the risk for shares is if liabilities for these and other fires breach the fund size, requiring incremental funding. "From an investor perspective, the most unfortunate part is that EIX and California broadly had a relatively quiet period without catastrophic wildfires that came to an end," Jefferies contends. Edison did not file an incident report to date which is a favorable data point, the firm adds. It keeps a Buy rating on the shares with a $93 price target.
