Arkadios Wealth Advisors Invests $1.15 Million in Edison International (NYSE:EIX)

Key Points

• Arkadios Wealth Advisors has acquired 19,425 shares of Edison International, valued at approximately $1,145,000, marking a significant investment during the first quarter.
• Several institutional investors have significantly increased their stakes in Edison International, with 88.95% of the stock currently owned by hedge funds and other institutional investors.
• Edison International reported earnings of $0.97 per share for the last quarter, exceeding expectations, and declared a quarterly dividend yielding 6.2% on an annualized basis.

Arkadios Wealth Advisors bought a new stake in Edison International (NYSE:EIX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 19,425 shares of the utilities provider's stock, valued at approximately $1,145,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EIX. Rakuten Securities Inc. grew its stake in Edison International by 4,633.3% in the first quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 417 shares during the last quarter. Barnes Dennig Private Wealth Management LLC purchased a new stake in Edison International in the first quarter valued at about $25,000. Investment Management Corp VA ADV raised 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 valued at $25,000 after buying an additional 265 shares during the last quarter. Bellwether Advisors LLC purchased a new stake in Edison International in the fourth quarter valued at about $34,000. Finally, Mizuho Bank Ltd. purchased a new stake in Edison International in the fourth quarter valued at about $50,000. Hedge funds and other institutional investors own 88.95% of the company's stock.

Edison International Price Performance

Shares of EIX stock traded down $0.08 on Wednesday, reaching $55.20. 2,480,353 shares of the company were exchanged, compared to its average volume of 4,505,023. The company has a market cap of $21.24 billion, a price-to-earnings ratio of 8.09, a P/E/G ratio of 1.30 and a beta of 0.75. The business has a 50-day moving average price of $51.85 and a 200 day moving average price of $54.39. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.81 and a current ratio of 0.87. Edison International has a 1 year low of $47.73 and a 1 year high of $88.77.

Edison International (NYSE:EIX - Get Free Report) last released its earnings results on Thursday, July 31st. The utilities provider reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.09. The business had revenue of $4.54 billion during the quarter, compared to analysts' expectations of $4.52 billion. Edison International had a net margin of 16.00% and a return on equity of 11.99%. The company's quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.23 earnings per share. Equities research analysts forecast 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 was paid on Thursday, July 31st. Stockholders of record on Monday, July 7th were paid a $0.8275 dividend. This represents a $3.31 annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend was Monday, July 7th. Edison International's dividend payout ratio (DPR) is currently 48.60%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Wolfe Research cut Edison International from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. Morgan Stanley dropped their price target 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. Evercore ISI reiterated an "outperform" rating on shares of Edison International in a research note on Thursday, May 15th. Barclays reiterated an "overweight" rating and set a $65.00 price target (up previously from $64.00) on shares of Edison International in a research note on Monday. Finally, 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Edison International currently has a consensus rating of "Moderate Buy" and a consensus target price of $76.19.

Edison International Company 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.