Brookstone Capital Management Purchases 3,574 Shares of Edison International $EIX

Brookstone Capital Management lifted its position in shares of Edison International (NYSE:EIX) by 1.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 218,523 shares of the utilities provider’s stock after acquiring an additional 3,574 shares during the period. Brookstone Capital Management’s holdings in Edison International were worth $11,276,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. D.A. Davidson & CO. boosted its position in shares of Edison International by 13.1% during the second quarter. D.A. Davidson & CO. now owns 38,955 shares of the utilities provider’s stock valued at $2,010,000 after purchasing an additional 4,522 shares in the last quarter. Cullen Frost Bankers Inc. boosted its position in shares of Edison International by 71.3% during the second quarter. Cullen Frost Bankers Inc. now owns 1,886 shares of the utilities provider’s stock valued at $97,000 after purchasing an additional 785 shares in the last quarter. Probity Advisors Inc. bought a new stake in shares of Edison International during the second quarter valued at approximately $446,000. DekaBank Deutsche Girozentrale boosted its position in shares of Edison International by 0.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 73,809 shares of the utilities provider’s stock valued at $3,818,000 after purchasing an additional 213 shares in the last quarter. Finally, FLC Capital Advisors boosted its position in shares of Edison International by 10.3% during the second quarter. FLC Capital Advisors now owns 7,376 shares of the utilities provider’s stock valued at $381,000 after purchasing an additional 686 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors.

Edison International Stock Down 0.5%

EIX stock opened at $58.08 on Thursday. Edison International has a 1-year low of $47.73 and a 1-year high of $88.64. The business has a fifty day moving average price of $55.33 and a 200-day moving average price of $54.41. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.87 and a quick ratio of 0.81. The stock has a market capitalization of $22.35 billion, a P/E ratio of 8.53, a P/E/G ratio of 0.88 and a beta of 0.80.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.09. Edison International had a return on equity of 11.99% and a net margin of 16.00%.The firm had revenue of $4.54 billion during the quarter, compared to analysts’ expectations of $4.52 billion. During the same quarter in the previous year, the business earned $1.23 earnings per share. The company’s revenue was up 4.8% on a year-over-year basis. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. Equities analysts forecast that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, October 7th will be paid a $0.8275 dividend. The ex-dividend date is Tuesday, October 7th. This represents a $3.31 annualized dividend and a dividend yield of 5.7%. Edison International’s payout ratio is currently 48.60%.

Analysts Set New Price Targets

A number of brokerages have issued reports on EIX. TD Cowen began coverage on Edison International in a research note on Thursday, October 16th. They set a “buy” rating and a $71.00 price objective for the company. Barclays lifted their price objective on Edison International from $65.00 to $69.00 and gave the company an “overweight” rating in a research note on Tuesday. Jefferies Financial Group lifted their price objective on Edison International from $57.00 to $59.00 and gave the company a “hold” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their price objective on Edison International from $67.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday, September 25th. Finally, Cowen began coverage on Edison International in a research note on Wednesday, October 15th. They set a “buy” rating for the company. Seven analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $66.45.

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.