Arvest Investments Inc. Buys Shares of 16,614 Edison International $EIX

Key Points

• Arvest Investments Inc. has acquired a new stake of 16,614 shares in Edison International, valued at approximately $857,000, as disclosed in a recent SEC filing.
• Multiple large investors have significantly increased their holdings in Edison International, with Oppenheimer & Co. boosting its position by 98.7% in the first quarter.
• Edison International's quarterly earnings topped analysts' expectations, reporting a net margin of 16.00% and a return on equity of 11.99%, alongside a quarterly dividend yield of 5.9%.

Arvest Investments Inc. bought a new stake in shares of Edison International (NYSE:EIX - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,614 shares of the utilities provider's stock, valued at approximately $857,000.

Other large investors have also modified their holdings of the company. Oppenheimer & Co. Inc. boosted its position in shares of Edison International by 98.7% during the first quarter. Oppenheimer & Co. Inc. now owns 10,982 shares of the utilities provider's stock valued at $647,000 after buying an additional 5,454 shares during the period. Tounjian Advisory Partners LLC purchased a new position in shares of Edison International during the first quarter valued at approximately $1,151,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Edison International by 135.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 123,851 shares of the utilities provider's stock valued at $7,297,000 after buying an additional 71,159 shares during the period. GAMMA Investing LLC boosted its position in shares of Edison International by 4,157.4% during the first quarter. GAMMA Investing LLC now owns 145,179 shares of the utilities provider's stock valued at $8,554,000 after buying an additional 141,769 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Edison International by 6.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,562,128 shares of the utilities provider's stock valued at $150,961,000 after buying an additional 145,358 shares during the period. Hedge funds and other institutional investors own 88.95% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Morgan Stanley restated an "overweight" rating on shares of Edison International in a research report on Thursday, August 21st. UBS Group lowered their price target on Edison International from $68.00 to $66.00 and set a "buy" rating for the company in a report on Thursday. Wolfe Research lowered Edison International from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. JPMorgan Chase & Co. lowered their price target on Edison International from $75.00 to $71.00 and set a "neutral" rating for the company in a report on Monday, May 19th. Finally, Barclays boosted their price target on Edison International from $64.00 to $65.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Eight equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Edison International presently has an average rating of "Moderate Buy" and a consensus target price of $71.15.

Edison International Stock Performance

Shares of NYSE:EIX opened at $56.27 on Friday. The company has a market capitalization of $21.65 billion, a price-to-earnings ratio of 8.26, a price-to-earnings-growth ratio of 1.32 and a beta of 0.80. Edison International has a 52 week low of $47.73 and a 52 week high of $88.64. The company has a quick ratio of 0.81, a current ratio of 0.87 and a debt-to-equity ratio of 2.03. The firm has a 50 day moving average of $53.79 and a 200 day moving average of $54.70.

Edison International (NYSE:EIX - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $4.54 billion during the quarter, compared to the consensus estimate of $4.52 billion. Edison International had a net margin of 16.00% and a return on equity of 11.99%. Edison International's revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.23 earnings per share. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. On average, sell-side analysts predict that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

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

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