Estate Counselors LLC Buys Shares of 25,365 Edison International $EIX

Estate Counselors LLC bought a new position in shares of Edison International (NYSE:EIX) in the first quarter, HoldingsChannel reports. The firm bought 25,365 shares of the utilities provider’s stock, valued at approximately $1,856,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. 10Elms LLP acquired a new stake in shares of Edison International in the fourth quarter valued at approximately $26,000. Transamerica Financial Advisors LLC raised its position in shares of Edison International by 170.3% during the 4th quarter. Transamerica Financial Advisors LLC now owns 446 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 281 shares during the last quarter. Quest 10 Wealth Builders Inc. lifted its stake in Edison International by 866.7% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 783 shares of the utilities provider’s stock valued at $47,000 after buying an additional 702 shares in the last quarter. DV Equities LLC purchased a new stake in Edison International in the 4th quarter valued at approximately $52,000. Finally, McMillan Office Inc. acquired a new stake in Edison International during the 4th quarter valued at $55,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on EIX shares. Barclays raised their price target on Edison International from $77.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. JPMorgan Chase & Co. increased their price objective on Edison International from $75.00 to $76.00 and gave the company a “neutral” rating in a research note on Friday, May 15th. Bank of America dropped their price objective on Edison International from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Morgan Stanley reissued an “underweight” rating and issued a $69.00 target price on shares of Edison International in a research note on Wednesday, July 22nd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Edison International in a report on Monday, July 13th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $72.64.

Edison International Price Performance

Shares of NYSE:EIX opened at $78.64 on Tuesday. 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. The company has a quick ratio of 0.68, a current ratio of 0.74 and a debt-to-equity ratio of 1.98. Edison International has a 52 week low of $51.01 and a 52 week high of $80.90. The business has a fifty day simple moving average of $73.76 and a 200-day simple moving average of $70.58.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.10. Edison International had a net margin of 19.27% and a return on equity of 14.56%. The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same period in the prior year, the firm posted $1.37 EPS. The company’s revenue was up 7.7% on a year-over-year basis. Equities research analysts forecast that Edison International will post 6.13 EPS for the current year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, July 7th will be given a dividend of $0.8775 per share. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a $3.51 annualized dividend and a yield of 4.5%. Edison International’s dividend payout ratio is 38.11%.

Edison International Company Profile

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.