Quarry LP Acquires 4,704 Shares of Edison International $EIX

Key Points

• Quarry LP increased its stake in Edison International by 12.2%, acquiring an additional 4,704 shares to bring its total holdings to 43,375 shares, valued at approximately $2.56 million.
• Edison International reported better-than-expected earnings for the last quarter, with EPS of $0.97 beating estimates of $0.88 and revenue of $4.54 billion.
• The company declared a quarterly dividend of $0.8275, representing an annualized dividend yield of 5.9% and a payout ratio of 48.6%.

Quarry LP lifted its holdings in Edison International (NYSE:EIX - Free Report) by 12.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,375 shares of the utilities provider's stock after acquiring an additional 4,704 shares during the period. Edison International accounts for approximately 0.6% of Quarry LP's holdings, making the stock its 23rd biggest holding. Quarry LP's holdings in Edison International were worth $2,556,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. KWB Wealth lifted its holdings in shares of Edison International by 1.5% in the 1st quarter. KWB Wealth now owns 14,751 shares of the utilities provider's stock valued at $869,000 after acquiring an additional 218 shares during the last quarter. Private Advisor Group LLC lifted its stake in Edison International by 1.5% in the first quarter. Private Advisor Group LLC now owns 17,764 shares of the utilities provider's stock worth $1,047,000 after purchasing an additional 254 shares during the last quarter. Investment Management Corp VA ADV lifted its stake in Edison International by 159.6% in the first quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider's stock worth $25,000 after purchasing an additional 265 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. lifted its stake in Edison International by 3.0% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 9,224 shares of the utilities provider's stock worth $543,000 after purchasing an additional 271 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. lifted its stake in Edison International by 11.5% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 2,735 shares of the utilities provider's stock worth $161,000 after purchasing an additional 281 shares during the last quarter. Institutional investors own 88.95% of the company's stock.

Edison International Stock Up 2.6%

EIX opened at $56.15 on Friday. The company has a market cap of $21.61 billion, a PE ratio of 8.24, a price-to-earnings-growth ratio of 1.32 and a beta of 0.75. The company has a quick ratio of 0.81, a current ratio of 0.87 and a debt-to-equity ratio of 2.03. Edison International has a twelve month low of $47.73 and a twelve month high of $88.77. The company has a 50-day moving average price of $53.05 and a 200 day moving average price of $54.45.

Edison International (NYSE:EIX - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.97 EPS for the quarter, beating 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 quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.23 EPS. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. Sell-side analysts expect that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders 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 annualized dividend and a dividend yield of 5.9%. Edison International's dividend payout ratio is 48.60%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Morgan Stanley reissued an "overweight" rating on shares of Edison International in a research note on Thursday, August 21st. Wolfe Research downgraded shares of Edison International from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. Evercore ISI reaffirmed an "outperform" rating on shares of Edison International in a research report on Thursday, May 15th. JPMorgan Chase & Co. reduced their price target on Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a research report on Monday, May 19th. Finally, Barclays boosted their price objective 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. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $75.21.

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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