Advisor Resource Council Purchases New Shares in Edison International (NYSE:EIX)

Advisor Resource Council bought a new stake in shares of 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. The institutional investor bought 5,034 shares of the utilities provider's stock, valued at approximately $288,000.

Several other hedge funds have also recently added to or reduced their stakes in EIX. Blue Trust Inc. boosted its stake in shares of Edison International by 47.0% in the 1st quarter. Blue Trust Inc. now owns 1,940 shares of the utilities provider's stock valued at $114,000 after purchasing an additional 620 shares during the last quarter. Centennial Wealth Advisory LLC lifted its holdings in Edison International by 33.6% in the first quarter. Centennial Wealth Advisory LLC now owns 7,938 shares of the utilities provider's stock valued at $468,000 after buying an additional 1,995 shares during the period. State of Alaska Department of Revenue lifted its holdings in Edison International by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 45,378 shares of the utilities provider's stock valued at $2,673,000 after buying an additional 1,230 shares during the period. CWA Asset Management Group LLC boosted its position in Edison International by 33.4% during the first quarter. CWA Asset Management Group LLC now owns 25,285 shares of the utilities provider's stock valued at $1,490,000 after acquiring an additional 6,329 shares during the last quarter. Finally, LifeWealth Investments LLC grew its holdings in Edison International by 56.2% during the 1st quarter. LifeWealth Investments LLC now owns 6,259 shares of the utilities provider's stock worth $369,000 after acquiring an additional 2,252 shares during the period. Institutional investors own 88.95% of the company's stock.

Edison International Stock Down 1.7%

NYSE EIX traded down $0.89 during mid-day trading on Wednesday, hitting $50.50. The company's stock had a trading volume of 2,551,895 shares, compared to its average volume of 3,250,851. The firm has a market capitalization of $19.43 billion, a price-to-earnings ratio of 7.16, a PEG ratio of 1.20 and a beta of 0.78. The company's 50 day simple moving average is $54.67 and its 200 day simple moving average is $59.28. The company has a current ratio of 0.96, a quick ratio of 0.89 and a debt-to-equity ratio of 2.06. Edison International has a twelve month low of $47.73 and a twelve month high of $88.77.

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, beating analysts' consensus estimates of $1.21 by $0.16. The firm had revenue of $3.81 billion during the quarter, compared to analysts' expectations of $4.29 billion. Edison International had a net margin of 16.84% and a return on equity of 13.21%. The business's revenue was down 6.5% on a year-over-year basis. During the same period last year, the company earned $1.13 earnings per share. Analysts anticipate that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, July 7th will be issued a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a yield of 6.55%. Edison International's dividend payout ratio is currently 46.95%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on EIX shares. The Goldman Sachs Group dropped their price objective on Edison International from $88.00 to $68.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. JPMorgan Chase & Co. dropped their price target on Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a research note on Monday, May 19th. Morgan Stanley cut their price target on Edison International from $52.00 to $51.00 and set an "underweight" rating on the stock in a report on Wednesday, June 18th. Wolfe Research downgraded shares of Edison International from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. Finally, Evercore ISI reiterated an "outperform" rating on shares of Edison International in a research note on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Edison International presently has an average rating of "Moderate Buy" and a consensus target price of $76.82.

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.