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

Brookstone Capital Management increased its stake in Edison International (NYSE:EIX) by 1.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 131,877 shares of the utilities provider’s stock after purchasing an additional 1,329 shares during the quarter. Brookstone Capital Management’s holdings in Edison International were worth $10,529,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the stock. Highline Wealth Partners LLC bought a new stake in Edison International during the third quarter valued at about $26,000. Groupama Asset Managment raised its holdings in Edison International by 0.8% during the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 237 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in Edison International during the second quarter valued at about $27,000. Eastern Bank bought a new stake in Edison International during the third quarter valued at about $27,000. Finally, Larson Financial Group LLC raised its holdings in Edison International by 125.0% during the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 195 shares during the period. 88.95% of the stock is owned by institutional investors.

Edison International Stock Down 12.2 %

Shares of NYSE EIX opened at $57.09 on Tuesday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The company has a market cap of $22.10 billion, a P/E ratio of 16.74, a PEG ratio of 1.96 and a beta of 0.93. Edison International has a 1 year low of $55.27 and a 1 year high of $88.77. The firm has a 50-day simple moving average of $81.18 and a two-hundred day simple moving average of $81.71.

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

Edison International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th will be paid a $0.8275 dividend. The ex-dividend date is Tuesday, January 7th. This represents a $3.31 annualized dividend and a yield of 5.80%. This is an increase from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio (DPR) is presently 97.07%.

Insider Activity

In other news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on EIX. UBS Group decreased their price target on Edison International from $96.00 to $87.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. Wells Fargo & Company raised their price objective on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Barclays cut their price objective on Edison International from $84.00 to $76.00 and set an “overweight” rating for the company in a research report on Monday. Royal Bank of Canada raised their price objective on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Finally, Morgan Stanley cut their price objective on Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Edison International currently has an average rating of “Moderate Buy” and an average target price of $87.33.

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.