Envestnet Portfolio Solutions Inc. Has $426,000 Position in Edison International $EIX

Envestnet Portfolio Solutions Inc. cut its stake in shares of Edison International (NYSE:EIX) by 13.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,260 shares of the utilities provider’s stock after selling 1,243 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Edison International were worth $426,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Edison International by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 49,083,555 shares of the utilities provider’s stock worth $2,892,003,000 after buying an additional 493,778 shares during the period. Invesco Ltd. lifted its holdings 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 buying an additional 953,897 shares during the period. JPMorgan Chase & Co. lifted its holdings in Edison International by 111.6% during the 1st quarter. JPMorgan Chase & Co. now owns 5,663,427 shares of the utilities provider’s stock worth $333,689,000 after buying an additional 2,987,318 shares during the period. AQR Capital Management LLC lifted its holdings in Edison International by 190.5% during the 1st quarter. AQR Capital Management LLC now owns 5,428,038 shares of the utilities provider’s stock worth $319,169,000 after buying an additional 3,559,602 shares during the period. Finally, Canada Pension Plan Investment Board lifted its holdings in 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 worth $274,485,000 after buying an additional 1,289,062 shares during the period. 88.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on EIX. Barclays lifted their target price on Edison International from $65.00 to $69.00 and gave the stock an “overweight” rating in a report on Tuesday. Cowen assumed coverage on Edison International in a research report on Wednesday, October 15th. They issued a “buy” rating for the company. Morgan Stanley lifted their price objective on Edison International from $60.00 to $66.00 and gave the stock an “underweight” rating in a research report on Wednesday. Weiss Ratings reissued a “hold (c)” rating on shares of Edison International in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lifted their price objective on Edison International from $67.00 to $68.00 and gave the stock a “neutral” rating in a research report on Thursday, September 25th. Seven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $66.45.

Edison International Stock Performance

Shares of Edison International stock opened at $58.08 on Thursday. Edison International has a one year low of $47.73 and a one year high of $88.64. The firm has a market capitalization of $22.35 billion, a price-to-earnings ratio of 8.53, a PEG ratio of 0.88 and a beta of 0.80. The business has a 50-day simple moving average of $55.33 and a 200 day simple moving average of $54.41. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.87 and a quick ratio of 0.81.

Edison International (NYSE:EIX) last issued its earnings results on Thursday, July 31st. The utilities provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. Edison International had a return on equity of 11.99% and a net margin of 16.00%.The business had revenue of $4.54 billion during the quarter, compared to analyst estimates of $4.52 billion. During the same period in the previous year, the company posted $1.23 EPS. The firm’s revenue was up 4.8% compared to the same quarter last year. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. On average, research analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, October 7th will be given a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend is Tuesday, October 7th. Edison International’s payout ratio is presently 48.60%.

About Edison International

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.