Edison International (NYSE:EIX) Shares Bought by Brookstone Capital Management

Brookstone Capital Management grew its stake in Edison International (NYSE:EIX) by 3,503.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 135,341 shares of the utilities provider’s stock after acquiring an additional 131,585 shares during the quarter. Brookstone Capital Management’s holdings in Edison International were worth $9,573,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Able Wealth Management LLC acquired a new stake in Edison International during the fourth quarter worth about $25,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Edison International during the 4th quarter worth approximately $27,000. Global Trust Asset Management LLC purchased a new stake in shares of Edison International during the 1st quarter valued at approximately $28,000. WASHINGTON TRUST Co lifted its holdings in Edison International by 117.4% in the fourth quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 270 shares during the last quarter. Finally, Northwest Financial Advisors purchased a new position in Edison International in the fourth quarter worth approximately $40,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Trading Up 0.3 %

NYSE:EIX opened at $72.04 on Friday. Edison International has a 12-month low of $58.82 and a 12-month high of $77.04. The firm has a market cap of $27.72 billion, a PE ratio of 31.60 and a beta of 0.95. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 2.04. The stock has a fifty day moving average price of $73.34 and a 200 day moving average price of $70.41.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.01. Edison International had a return on equity of 12.48% and a net margin of 6.14%. The company had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.16 billion. During the same quarter last year, the company earned $1.09 EPS. Edison International’s revenue for the quarter was up 2.8% compared to the same quarter last year. Sell-side analysts anticipate that Edison International will post 4.92 earnings per share for the current fiscal year.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 8th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 4.33%. The ex-dividend date is Monday, July 8th. Edison International’s dividend payout ratio (DPR) is presently 136.84%.

Wall Street Analyst Weigh In

A number of research firms have commented on EIX. The Goldman Sachs Group began coverage on Edison International in a research report on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 target price on the stock. Morgan Stanley decreased their target price on shares of Edison International from $64.00 to $61.00 and set an “underweight” rating on the stock in a research report on Monday. Mizuho lifted their price target on shares of Edison International from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Wells Fargo & Company upgraded shares of Edison International from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $72.00 to $86.00 in a report on Tuesday, May 14th. Finally, Royal Bank of Canada cut their target price on Edison International from $81.00 to $80.00 and set an “outperform” rating on the stock in a research report on Thursday, March 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $77.40.

Insider Buying and Selling at Edison International

In other news, CEO J Andrew Murphy sold 9,794 shares of Edison International stock in a transaction on Monday, May 13th. The shares were sold at an average price of $75.07, for a total transaction of $735,235.58. Following the completion of the sale, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at approximately $1,475,876.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Edison International news, CEO J Andrew Murphy sold 9,794 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $75.07, for a total value of $735,235.58. Following the sale, the chief executive officer now directly owns 19,660 shares in the company, valued at $1,475,876.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Caroline Choi sold 10,004 shares of Edison International stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $75.77, for a total value of $758,003.08. Following the sale, the senior vice president now directly owns 26,918 shares of the company’s stock, valued at $2,039,576.86. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,897 shares of company stock valued at $5,851,245. Insiders own 1.03% of the company’s stock.

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.