Old Port Advisors Raises Holdings in Edison International $EIX

Key Points

• Old Port Advisors increased its holdings in Edison International by 31.6% during the 2nd quarter, bringing its total shares to 26,126 valued at $1,348,000.
• Edison International reported a quarterly earnings of $0.97 EPS, surpassing analyst expectations, with revenue of $4.54 billion, a 4.8% increase from the previous year.
• The company recently declared a quarterly dividend of $0.8275 per share, resulting in an annual yield of 6.0% and a payout ratio of 48.60%.

Old Port Advisors increased its holdings in Edison International (NYSE:EIX - Free Report) by 31.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 26,126 shares of the utilities provider's stock after acquiring an additional 6,274 shares during the period. Old Port Advisors' holdings in Edison International were worth $1,348,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. grew its position in Edison International by 98.7% in the first quarter. Oppenheimer & Co. Inc. now owns 10,982 shares of the utilities provider's stock worth $647,000 after acquiring 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 worth $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 worth $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 worth $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 worth $150,961,000 after buying an additional 145,358 shares during the period. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Stock Up 1.8%

Shares of NYSE EIX opened at $55.00 on Friday. The stock has a market cap of $21.17 billion, a P/E ratio of 8.08, a PEG ratio of 1.27 and a beta of 0.80. The company has a current ratio of 0.87, a quick ratio of 0.81 and a debt-to-equity ratio of 2.03. Edison International has a 12-month low of $47.73 and a 12-month high of $88.64. The business's fifty day simple moving average is $54.64 and its 200-day simple moving average is $54.71.

Edison International (NYSE:EIX - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.09. The business had revenue of $4.54 billion for the quarter, compared to analysts' expectations of $4.52 billion. Edison International had a return on equity of 11.99% and a net margin of 16.00%.The company's revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period last year, the firm earned $1.23 earnings per share. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. As a group, equities analysts predict 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 will be paid on Friday, October 31st. Shareholders of record on Tuesday, October 7th will be paid a $0.8275 dividend. The ex-dividend date is Tuesday, October 7th. This represents a $3.31 dividend on an annualized basis and a yield of 6.0%. Edison International's dividend payout ratio (DPR) is currently 48.60%.

Wall Street Analysts Forecast Growth

EIX has been the subject of several research analyst reports. 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 research report on Thursday, September 11th. Barclays raised their price target on Edison International from $64.00 to $65.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. JPMorgan Chase & Co. raised their price target on Edison International from $67.00 to $68.00 and gave the stock a "neutral" rating in a research report on Thursday. Morgan Stanley lowered their price target on Edison International from $61.00 to $60.00 and set an "underweight" rating for the company in a research report on Thursday. Finally, Wolfe Research cut Edison International from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $71.75.

Edison International 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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