Brookstone Capital Management Acquires 83,072 Shares of Edison International (NYSE:EIX)

Brookstone Capital Management lifted its stake in shares of Edison International (NYSE:EIX - Free Report) by 63.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 214,949 shares of the utilities provider's stock after purchasing an additional 83,072 shares during the period. Brookstone Capital Management owned approximately 0.06% of Edison International worth $12,665,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. IFM Investors Pty Ltd raised its holdings in Edison International by 4.0% during the 1st quarter. IFM Investors Pty Ltd now owns 153,256 shares of the utilities provider's stock worth $9,030,000 after buying an additional 5,961 shares during the period. OneDigital Investment Advisors LLC lifted its position in shares of Edison International by 13.9% in the 1st quarter. OneDigital Investment Advisors LLC now owns 4,225 shares of the utilities provider's stock valued at $249,000 after acquiring an additional 514 shares in the last quarter. Calamos Advisors LLC boosted its stake in Edison International by 1.1% in the 1st quarter. Calamos Advisors LLC now owns 85,873 shares of the utilities provider's stock worth $5,060,000 after purchasing an additional 956 shares during the period. Meritage Portfolio Management boosted its stake in Edison International by 56.8% in the 1st quarter. Meritage Portfolio Management now owns 4,308 shares of the utilities provider's stock worth $254,000 after purchasing an additional 1,561 shares during the period. Finally, Teacher Retirement System of Texas grew its position in Edison International by 303.7% during the 1st quarter. Teacher Retirement System of Texas now owns 71,581 shares of the utilities provider's stock worth $4,218,000 after purchasing an additional 53,850 shares in the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on EIX shares. Morgan Stanley reduced their target price on Edison International from $52.00 to $51.00 and set an "underweight" rating for the company in a report on Wednesday, June 18th. Barclays increased their price objective on Edison International from $64.00 to $67.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. lowered their target price 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. Evercore ISI reissued an "outperform" rating on shares of Edison International in a research report on Thursday, May 15th. Finally, Wolfe Research cut shares of Edison International from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. 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 company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $76.82.

Edison International Stock Up 0.0%

NYSE:EIX traded up $0.01 during trading hours on Friday, reaching $52.57. The company's stock had a trading volume of 2,920,079 shares, compared to its average volume of 3,317,305. 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 $20.23 billion, a price-to-earnings ratio of 7.46, a price-to-earnings-growth ratio of 1.23 and a beta of 0.75. Edison International has a one year low of $47.73 and a one year high of $88.77. The business's 50-day moving average is $54.00 and its 200-day moving average is $58.03.

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 for the quarter, beating analysts' consensus estimates of $1.21 by $0.16. The business had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $4.29 billion. Edison International had a return on equity of 13.21% and a net margin of 16.84%. The firm's revenue was down 6.5% compared to the same quarter last year. During the same period last year, the business earned $1.13 EPS. Equities research analysts predict that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, July 7th will be issued a $0.8275 dividend. The ex-dividend date is Monday, July 7th. This represents a $3.31 annualized dividend and a yield of 6.30%. Edison International's dividend payout ratio (DPR) is presently 46.95%.

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.