Harvest Portfolios Group Inc. Purchases 9,709 Shares of Edison International $EIX

Harvest Portfolios Group Inc. boosted its position in Edison International (NYSE:EIX) by 7.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 133,046 shares of the utilities provider’s stock after purchasing an additional 9,709 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Edison International were worth $6,865,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Edison International by 1.0% in the first quarter. Vanguard Group Inc. now owns 49,083,555 shares of the utilities provider’s stock valued at $2,892,003,000 after buying an additional 493,778 shares in the last quarter. Invesco Ltd. increased its stake in Edison International by 19.8% during the 1st quarter. Invesco Ltd. now owns 5,770,535 shares of the utilities provider’s stock worth $340,000,000 after acquiring an additional 953,897 shares during the period. JPMorgan Chase & Co. raised its holdings in Edison International by 111.6% in the 1st quarter. JPMorgan Chase & Co. now owns 5,663,427 shares of the utilities provider’s stock valued at $333,689,000 after acquiring an additional 2,987,318 shares in the last quarter. AQR Capital Management LLC raised its holdings in Edison International by 190.5% in the 1st quarter. AQR Capital Management LLC now owns 5,428,038 shares of the utilities provider’s stock valued at $319,169,000 after acquiring an additional 3,559,602 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of Edison International by 38.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 4,658,597 shares of the utilities provider’s stock valued at $274,485,000 after acquiring an additional 1,289,062 shares during the period. Institutional investors own 88.95% of the company’s stock.

Insider Buying and Selling at Edison International

In other news, Director Peter J. Taylor sold 1,800 shares of the business’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $55.27, for a total value of $99,486.00. Following the transaction, the director directly owned 35,212 shares of the company’s stock, valued at $1,946,167.24. The trade was a 4.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.20% of the company’s stock.

Edison International Stock Down 0.4%

Shares of NYSE EIX opened at $56.55 on Friday. The company has a 50 day simple moving average of $55.52 and a 200 day simple moving average of $54.44. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.82 and a quick ratio of 0.81. Edison International has a 1 year low of $47.73 and a 1 year high of $88.64. The firm has a market cap of $21.76 billion, a PE ratio of 7.39, a price-to-earnings-growth ratio of 0.83 and a beta of 0.85.

Edison International (NYSE:EIX) last posted its earnings results on Tuesday, October 28th. The utilities provider reported $2.34 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.18. Edison International had a net margin of 17.24% and a return on equity of 13.62%. The firm had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.31 billion. During the same period in the previous year, the firm posted $1.51 EPS. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. On average, research analysts forecast that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Tuesday, October 7th were issued a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date was Tuesday, October 7th. Edison International’s dividend payout ratio (DPR) is presently 43.27%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on EIX shares. Morgan Stanley lifted their price objective on shares of Edison International from $60.00 to $66.00 and gave the company an “underweight” rating in a research note on Wednesday, October 22nd. Jefferies Financial Group raised their target price on Edison International from $57.00 to $59.00 and gave the company a “hold” rating in a report on Wednesday, October 22nd. TD Cowen assumed coverage on Edison International in a research report on Thursday, October 16th. They set a “buy” rating and a $71.00 price objective for the company. LADENBURG THALM/SH SH lifted their target price on Edison International from $52.50 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Finally, Wall Street Zen raised shares of Edison International from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $64.30.

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.