9,564 Shares in Edison International $EIX Acquired by Gateway Wealth Partners LLC

Gateway Wealth Partners LLC acquired a new stake in shares of Edison International (NYSE:EIX) during the 1st quarter, HoldingsChannel.com reports. The fund acquired 9,564 shares of the utilities provider’s stock, valued at approximately $700,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its stake in shares of Edison International by 112.9% in the 1st quarter. Jones Financial Companies Lllp now owns 9,785 shares of the utilities provider’s stock valued at $577,000 after purchasing an additional 5,190 shares during the last quarter. Empowered Funds LLC raised its holdings in Edison International by 2.4% during the first quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider’s stock valued at $523,000 after buying an additional 211 shares in the last quarter. Woodline Partners LP lifted its position in shares of Edison International by 40.7% in the first quarter. Woodline Partners LP now owns 32,709 shares of the utilities provider’s stock worth $1,927,000 after buying an additional 9,459 shares during the last quarter. Sivia Capital Partners LLC lifted its position in shares of Edison International by 153.6% in the second quarter. Sivia Capital Partners LLC now owns 8,734 shares of the utilities provider’s stock worth $451,000 after buying an additional 5,290 shares during the last quarter. Finally, Baird Financial Group Inc. bought a new stake in shares of Edison International during the 2nd quarter worth about $302,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Edison International Price Performance

Shares of EIX stock opened at $78.68 on Thursday. The stock’s fifty day simple moving average is $74.13 and its 200 day simple moving average is $70.87. Edison International has a one year low of $51.01 and a one year high of $81.62. The firm has a market cap of $30.28 billion, a price-to-earnings ratio of 8.54, a P/E/G ratio of 6.20 and a beta of 0.66. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.74 and a quick ratio of 0.68.

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

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, July 7th will be paid a $0.8775 dividend. This represents a $3.51 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Tuesday, July 7th. Edison International’s payout ratio is currently 38.11%.

Edison International 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.