Estate Counselors LLC Invests $1.86 Million in Edison International $EIX

Key Points

• Estate Counselors LLC acquired 25,365 Edison International shares worth approximately $1.86 million in the first quarter. Institutional investors collectively own 88.95% of the utility company.
• Analyst sentiment remains mixed, with Edison International receiving a consensus “Hold” rating and an average price target of $72.64; recent target changes ranged from $69 to $79.
• Edison International exceeded quarterly EPS expectations, reporting $1.42 versus the $1.32 consensus, while revenue rose 7.7% year over year. The company declared a quarterly dividend of $0.8775, representing a 4.5% annualized yield.

Estate Counselors LLC purchased a new position in shares of Edison International (NYSE:EIX - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 25,365 shares of the utilities provider's stock, valued at approximately $1,856,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. 10Elms LLP purchased a new stake in shares of Edison International in the fourth quarter valued at about $26,000. Transamerica Financial Advisors LLC raised its holdings in Edison International by 170.3% during the fourth quarter. Transamerica Financial Advisors LLC now owns 446 shares of the utilities provider's stock worth $27,000 after purchasing an additional 281 shares in the last quarter. Quest 10 Wealth Builders Inc. raised its holdings in Edison International by 866.7% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 783 shares of the utilities provider's stock worth $47,000 after purchasing an additional 702 shares in the last quarter. DV Equities LLC acquired a new stake in Edison International in the fourth quarter valued at about $52,000. Finally, McMillan Office Inc. acquired a new stake in Edison International in the fourth quarter valued at about $55,000. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EIX has been the topic of several recent analyst reports. Truist Financial dropped their target price on Edison International from $82.00 to $79.00 and set a "hold" rating on the stock in a research report on Monday, May 18th. Seaport Research Partners cut Edison International from a "buy" rating to a "neutral" rating in a report on Monday, April 20th. Morgan Stanley reissued an "underweight" rating and issued a $69.00 price target on shares of Edison International in a report on Wednesday, July 22nd. Weiss Ratings restated a "buy (b-)" rating on shares of Edison International in a research note on Monday, July 13th. Finally, JPMorgan Chase & Co. upped their price objective on Edison International from $75.00 to $76.00 and gave the stock a "neutral" rating in a report on Friday, May 15th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Edison International has a consensus rating of "Hold" and an average target price of $72.64.

Edison International Stock Down 1.4%

EIX stock opened at $78.64 on Tuesday. The company has a current ratio of 0.74, a quick ratio of 0.68 and a debt-to-equity ratio of 1.98. The company's 50-day moving average price is $73.76 and its 200 day moving average price is $70.58. Edison International has a 52 week low of $51.01 and a 52 week high of $80.90. The company has a market cap of $30.26 billion, a P/E ratio of 8.54, a P/E/G ratio of 6.20 and a beta of 0.66.

Edison International (NYSE:EIX - Get Free Report) last issued its earnings results on Tuesday, April 28th. The utilities provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.32 by $0.10. Edison International had a net margin of 19.27% and a return on equity of 14.56%. The company had revenue of $4.10 billion during the quarter, compared to analysts' expectations of $4.15 billion. During the same period last year, the company posted $1.37 earnings per share. The firm's quarterly revenue was up 7.7% compared to the same quarter last year. On average, research analysts expect that Edison International will post 6.13 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, July 7th will be issued a $0.8775 dividend. The ex-dividend date is Tuesday, July 7th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 4.5%. Edison International's dividend payout ratio is currently 38.11%.

About Edison International

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE's integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company's operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company's activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source