|Bid||72.24 x 3200|
|Ask||72.32 x 800|
|Day's Range||71.97 - 72.59|
|52 Week Range||45.50 - 75.39|
|Beta (3Y Monthly)||0.26|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 28, 2019 - Nov 1, 2019|
|Forward Dividend & Yield||2.45 (3.38%)|
|1y Target Est||76.08|
The San Onofre Community Engagement Panel (CEP) will take a closer look at various aspects of the spent nuclear fuel storage system deployed at the San Onofre nuclear plant at its quarterly meeting Aug. 22 in Laguna Hills. Given the importance of safely managing spent fuel until it is retrieved by the federal government, the CEP has focused on the defense-in-depth concept relating to San Onofre’s spent fuel storage during a number of meetings in the past five years. Defense-in-depth, as defined by the Nuclear Regulatory Commission, means having multiple layers of protection against accidents and their effects to ensure the risk to the public is acceptably low.
Investors bid up offerings that Southern California Edison and its holding company, Edison International, will use to pay their required $2.4 billion contribution to help create a state wildfire insurance fund.
Moody's Investors Service ("Moody's") affirmed Solar Star Funding, LLC's (Solar Star) Baa2 on its senior secured bonds due 2035 and changed the outlook to stable from negative. The affirmation of Solar Star's Baa2 rating and change in outlook to stable reflects the improvement of Southern California Edison Company's (SCE) credit profile whose issuer rating was affirmed at Baa2 and outlook revised to stable from negative on July 29, 2019. While the project's underlying financial and operating performance has been much stronger than the original Moody's case, Solar Star's rating is capped by the credit quality at SCE since the project derives all of its revenue and cash flow under a long-term power purchase and sales agreement (PPA) with SCE that expires in July 2035.
Edison International announced today the pricing of an underwritten public offering of 28,000,000 shares of its common stock, at a price to the public of $68.50 per share.
Moody's Investors Service ("Moody's") today affirmed the ratings of Edison International (Edison), including its Baa3 senior unsecured rating, and the ratings of its principal subsidiary Southern California Edison Company (SCE), including its Baa2 senior unsecured rating. Please see below for a complete list of ratings affirmed.
In conjunction with this offering, Edison International intends to grant the underwriters involved in the offering a 30-day option to purchase up to an additional 3,750,000 shares of its common stock. The net proceeds from the offering will be used for general corporate purposes, including contributions to Southern California Edison (SCE). Contributions to SCE will be used to repay commercial paper borrowings and for general corporate purposes, including a $1.2 billion contribution to the wildfire insurance fund to be established pursuant to Assembly Bill 1054, which was recently enacted by the California Legislature and signed into law by Gov. Newsom.
Entergy (ETR) has been experiencing higher interest expenses for the last few quarters, which might hurt the company's bottom line in the second quarter.
Edison International (EIX) reports mixed second-quarter 2019 results, wherein earnings beat the Zacks Consensus Estimate but revenues missed the same.
(Bloomberg) -- All three of California’s investor-owned utilities have now signed off on the creation of a $21 billion wildfire fund that any one of them could tap the next time a power line sparks a catastrophic blaze.PG&E Corp., which was forced into bankruptcy in January amid crippling fire liabilities, said Thursday that it would kick in an initial $4.8 billion for the insurance-like pool. Sempra Energy said last week that it would commit $450 million. Edison International was the last to chime in, confirming late Thursday that it would participate and pitch in $2.4 billion.The fund was a crucial part of legislation that California lawmakers rushed to pass earlier this month as the state heads into yet another wildfire season. Without it, utilities owned by both Edison and Sempra were facing junk ratings and PG&E faced the threat of more liabilities on top of the estimated $30 billion that it’s already dealing with. PG&E’s equipment has been tied to the Camp Fire -- the deadliest blaze in state history that killed 85 people in November.Edison’s Southern California Edison said it will put an initial $2.4 billion into the fund by September 10 and make additional annual payments of $95 million for ten years, according to a statement Thursday. Edison said the initial contribution will take a bite out of its profits with the company lowering its adjusted 2019 earnings-per-share guidance range to $4.61 to $4.81 from an earlier estimate of $4.72 to $4.92.In total, the three utilities were required to provide $10.5 billion with an additional $10.5 billion coming from state bonds if they wanted an insurance fund.To contact the reporter on this story: Mark Chediak in San Francisco at email@example.comTo contact the editors responsible for this story: Lynn Doan at firstname.lastname@example.org, Simon CaseyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Edison International (EIX) delivered earnings and revenue surprises of 37.39% and -10.82%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
Edison International today reported second quarter 2019 net income of $392 million, or $1.20 per share, compared to net income of $276 million, or $0.85 per share, in the second quarter 2018.
Southern California Edison today announced its commitment to contribute to the state’s wildfire insurance fund, authorized by the recently passed comprehensive wildfire legislation known as Assembly Bill 1054 (Holden, D-Pasadena). California’s investor-owned utilities are required to inform the California Public Utilities Commission (CPUC) if they will be participating in the fund within 15 days after July 12 when Gov. Newsom signed the bill into law. SCE will make its first contribution to the fund by Sept. 10, as mandated by the legislation.
Edison International (EIX) might suffer a dent in earnings, primarily due to a high interest expense projection on account of the rise in long-term debt issuances and interest rates.
Edison International (EIX) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Southern California Edison, after rigorous regulatory, internal and third-party readiness and operational reviews, will restart spent nuclear fuel transfer operations at the San Onofre nuclear plant. SCE halted the transfer of fuel from wet to dry storage following an incident last Aug. 3 when a canister became wedged during the downloading process. The canister was eventually placed safely into storage.