Harvest Portfolios Group Inc. Invests $7.27 Million in Edison International $EIX

Key Points

• Harvest Portfolios Group Inc. acquired 123,337 shares of Edison International, valued at approximately $7.27 million.
• Edison International reported $0.97 EPS for the last quarter, exceeding estimates, and has projected FY 2025 EPS guidance between 5.940-6.340.
• The company recently declared a quarterly dividend of $0.8275 per share, yielding 6.1% annually, with a payout ratio of 48.60%.

Harvest Portfolios Group Inc. acquired a new stake in shares of Edison International (NYSE:EIX - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 123,337 shares of the utilities provider's stock, valued at approximately $7,267,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bellwether Advisors LLC bought a new position in Edison International during the 4th quarter valued at approximately $34,000. Rakuten Securities Inc. increased its stake in Edison International by 4,633.3% during the 1st quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 417 shares in the last quarter. Barnes Dennig Private Wealth Management LLC bought a new stake in Edison International during the 1st quarter valued at about $25,000. Investment Management Corp VA ADV increased its stake in Edison International by 159.6% during the 1st quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 265 shares in the last quarter. Finally, Zions Bancorporation National Association UT bought a new stake in Edison International during the 1st quarter valued at about $35,000. Institutional investors own 88.95% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on EIX shares. Morgan Stanley restated an "overweight" rating on shares of Edison International in a research note on Thursday, August 21st. Barclays raised their price target on shares of Edison International from $64.00 to $65.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Wolfe Research cut Edison International from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. Evercore ISI restated an "outperform" rating on shares of Edison International in a research note on Thursday, May 15th. Finally, JPMorgan Chase & Co. lowered their target price on Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a report on Monday, May 19th. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Edison International presently has a consensus rating of "Moderate Buy" and an average price target of $75.21.

Edison International Trading Up 2.6%

NYSE EIX traded up $1.43 on Friday, hitting $56.15. 3,527,985 shares of the stock were exchanged, compared to its average volume of 4,339,099. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.81 and a current ratio of 0.87. The stock has a fifty day moving average price of $52.92 and a two-hundred day moving average price of $54.40. The firm has a market capitalization of $21.61 billion, a P/E ratio of 8.24, a P/E/G ratio of 1.30 and a beta of 0.75. Edison International has a 52-week low of $47.73 and a 52-week high of $88.77.

Edison International (NYSE:EIX - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.09. The firm had revenue of $4.54 billion for the quarter, compared to analysts' expectations of $4.52 billion. Edison International had a net margin of 16.00% and a return on equity of 11.99%. The business's revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.23 earnings per share. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. Research analysts forecast that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, July 7th were given a $0.8275 dividend. This represents a $3.31 annualized dividend and a dividend yield of 5.9%. The ex-dividend date of this dividend was Monday, July 7th. Edison International's dividend payout ratio is presently 48.60%.

Edison International Company Profile

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.