Harvest Portfolios Group Inc. Buys Shares of 161,766 Edison International $EIX

Key Points

• Harvest Portfolios Group Inc. initiated a new position in Edison International during the fourth quarter, buying 161,766 shares valued at about $9.7 million.
• Several other institutional investors also increased their Edison International holdings, and the stock is now 88.95% owned by institutions and hedge funds.
• Edison International reported Q1 earnings of $1.42 per share, beating analyst estimates, while analysts currently rate the stock a consensus "Hold" with an average price target of $72.64.

Harvest Portfolios Group Inc. bought a new stake in Edison International (NYSE:EIX - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 161,766 shares of the utilities provider's stock, valued at approximately $9,709,000.

A number of other large investors also recently modified their holdings of the business. Larson Financial Group LLC increased its holdings in shares of Edison International by 261.3% during the fourth quarter. Larson Financial Group LLC now owns 2,963 shares of the utilities provider's stock valued at $178,000 after purchasing an additional 2,143 shares during the period. Csenge Advisory Group increased its holdings in shares of Edison International by 7.2% during the fourth quarter. Csenge Advisory Group now owns 9,040 shares of the utilities provider's stock valued at $543,000 after purchasing an additional 607 shares during the period. ProShare Advisors LLC increased its holdings in shares of Edison International by 6.8% during the fourth quarter. ProShare Advisors LLC now owns 134,519 shares of the utilities provider's stock valued at $8,074,000 after purchasing an additional 8,567 shares during the period. HighTower Advisors LLC increased its holdings in shares of Edison International by 19.8% during the fourth quarter. HighTower Advisors LLC now owns 46,011 shares of the utilities provider's stock valued at $2,762,000 after purchasing an additional 7,601 shares during the period. Finally, Intrua Financial LLC increased its holdings in shares of Edison International by 4.9% during the fourth quarter. Intrua Financial LLC now owns 8,968 shares of the utilities provider's stock valued at $538,000 after purchasing an additional 419 shares during the period. 88.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. raised their price target on Edison International from $75.00 to $76.00 and gave the company a "neutral" rating in a report on Friday, May 15th. Barclays lowered their price target on Edison International from $78.00 to $77.00 and set an "overweight" rating on the stock in a report on Wednesday, April 29th. Weiss Ratings raised Edison International from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, April 15th. Mizuho set a $79.00 price target on Edison International in a report on Thursday, February 19th. Finally, Truist Financial lowered their price target on Edison International from $82.00 to $79.00 and set a "hold" rating on the stock in a report on Monday. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Edison International currently has an average rating of "Hold" and a consensus target price of $72.64.

Insiders Place Their Bets

In related news, Director Peter J. Taylor sold 500 shares of Edison International stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $75.30, for a total value of $37,650.00. Following the transaction, the director owned 34,212 shares of the company's stock, valued at approximately $2,576,163.60. This trade represents a 1.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.20% of the company's stock.

Edison International Price Performance

NYSE:EIX opened at $70.55 on Wednesday. The business's 50-day moving average price is $71.12 and its 200 day moving average price is $65.27. The firm has a market cap of $27.15 billion, a P/E ratio of 7.66, a PEG ratio of 1.19 and a beta of 0.68. Edison International has a 52-week low of $47.73 and a 52-week high of $76.21. The company has a quick ratio of 0.68, a current ratio of 0.74 and a debt-to-equity ratio of 1.98.

Edison International (NYSE:EIX - Get Free Report) last released its earnings results on Tuesday, April 28th. The utilities provider reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.32 by $0.10. The firm had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.15 billion. Edison International had a return on equity of 14.56% and a net margin of 19.27%.Edison International's revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.37 earnings per share. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. As a group, sell-side analysts predict that Edison International will post 6.12 earnings per share for the current fiscal year.

Edison International Company Profile

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE's integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company's operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company's activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.

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