Advisor Resource Council Buys Shares of 5,034 Edison International (NYSE:EIX)

Advisor Resource Council acquired a new stake in Edison International (NYSE:EIX - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,034 shares of the utilities provider's stock, valued at approximately $288,000.

Other hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its position in shares of Edison International by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,416,770 shares of the utilities provider's stock worth $192,955,000 after purchasing an additional 76,654 shares during the period. Tounjian Advisory Partners LLC acquired a new position in Edison International in the 1st quarter valued at about $1,151,000. GAMMA Investing LLC increased its stake in 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 purchasing an additional 141,769 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Edison International during the fourth quarter worth about $6,859,000. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Edison International by 135.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 123,851 shares of the utilities provider's stock valued at $7,297,000 after purchasing an additional 71,159 shares during the period. Hedge funds and other institutional investors own 88.95% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on EIX. Evercore ISI reiterated an "outperform" rating on shares of Edison International in a report on Thursday, May 15th. Morgan Stanley reduced their price objective on Edison International from $52.00 to $51.00 and set an "underweight" rating on the stock in a research note on Wednesday, June 18th. The Goldman Sachs Group lowered their target price on Edison International from $88.00 to $68.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. 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, Wolfe Research cut Edison International from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Edison International currently has a consensus rating of "Moderate Buy" and an average target price of $76.82.

Edison International Stock Up 0.3%

Shares of Edison International stock traded up $0.13 during trading hours on Friday, hitting $50.94. The company had a trading volume of 5,875,980 shares, compared to its average volume of 3,267,996. The company's 50-day moving average is $54.54 and its two-hundred day moving average is $59.05. Edison International has a twelve month low of $47.73 and a twelve month high of $88.77. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.96 and a quick ratio of 0.89. The company has a market cap of $19.60 billion, a P/E ratio of 7.23, a price-to-earnings-growth ratio of 1.18 and a beta of 0.78.

Edison International (NYSE:EIX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.16. Edison International had a return on equity of 13.21% and a net margin of 16.84%. The company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same quarter last year, the company posted $1.13 earnings per share. The business's quarterly revenue was down 6.5% compared to the same quarter last year. Analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, July 7th will be given a $0.8275 dividend. The ex-dividend date of this dividend is Monday, July 7th. This represents a $3.31 annualized dividend and a yield of 6.50%. Edison International's dividend payout ratio (DPR) is 46.95%.

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.