Brookstone Capital Management Buys 1,329 Shares of Edison International (NYSE:EIX)

Brookstone Capital Management raised its holdings in shares of Edison International (NYSE:EIX) by 1.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 131,877 shares of the utilities provider’s stock after purchasing an additional 1,329 shares during the period. Brookstone Capital Management’s holdings in Edison International were worth $10,529,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of EIX. FMR LLC raised its position in Edison International by 8.7% during the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock valued at $1,898,638,000 after purchasing an additional 1,741,835 shares during the last quarter. abrdn plc raised its position in Edison International by 166.4% during the 3rd quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock valued at $123,149,000 after purchasing an additional 885,955 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in Edison International by 117.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 781,736 shares of the utilities provider’s stock valued at $68,081,000 after purchasing an additional 422,752 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Edison International by 595.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 318,672 shares of the utilities provider’s stock valued at $22,884,000 after purchasing an additional 272,876 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in Edison International during the 2nd quarter valued at approximately $18,484,000. Institutional investors own 88.95% of the company’s stock.

Insider Activity

In other news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EIX. Jefferies Financial Group began coverage on Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 target price on the stock. Barclays reduced their target price on Edison International from $84.00 to $76.00 and set an “overweight” rating on the stock in a report on Monday. Morgan Stanley reduced their target price on Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Wells Fargo & Company upped their target price on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, UBS Group cut their price target on Edison International from $96.00 to $87.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Edison International has a consensus rating of “Moderate Buy” and a consensus price target of $87.33.

Edison International Stock Performance

Shares of EIX opened at $57.09 on Tuesday. The business’s fifty day simple moving average is $81.18 and its two-hundred day simple moving average is $81.71. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. Edison International has a 12 month low of $55.27 and a 12 month high of $88.77. The company has a market cap of $22.10 billion, a price-to-earnings ratio of 16.74, a P/E/G ratio of 1.96 and a beta of 0.93.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating the consensus estimate of $1.38 by $0.13. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company’s revenue was up 10.6% compared to the same quarter last year. During the same period last year, the business posted $1.38 EPS. Research analysts anticipate that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th will be issued a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a dividend yield of 5.80%. This is a boost from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date is Tuesday, January 7th. Edison International’s dividend payout ratio is presently 97.07%.

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.