3,382 Shares in Edison International (NYSE:EIX) Purchased by CX Institutional

CX Institutional bought a new position in Edison International (NYSE:EIX) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,382 shares of the utilities provider’s stock, valued at approximately $199,000.

Several other large investors also recently modified their holdings of the business. Norges Bank bought a new stake in Edison International during the 4th quarter valued at approximately $323,443,000. Canada Pension Plan Investment Board boosted its position in Edison International by 364.1% during the 4th quarter. Canada Pension Plan Investment Board now owns 3,369,535 shares of the utilities provider’s stock valued at $269,024,000 after acquiring an additional 2,643,571 shares in the last quarter. Northern Trust Corp boosted its position in Edison International by 53.9% during the 4th quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider’s stock valued at $459,642,000 after acquiring an additional 2,016,017 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Edison International by 149.3% during the 4th quarter. Ameriprise Financial Inc. now owns 2,793,795 shares of the utilities provider’s stock valued at $223,057,000 after acquiring an additional 1,673,204 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Edison International by 3.3% during the 4th quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider’s stock valued at $3,879,408,000 after acquiring an additional 1,559,501 shares in the last quarter. 88.95% of the stock is owned by institutional investors.

Edison International Price Performance

Shares of NYSE EIX opened at $48.27 on Monday. Edison International has a twelve month low of $47.86 and a twelve month high of $88.77. The firm has a market cap of $18.57 billion, a P/E ratio of 14.15, a PEG ratio of 1.07 and a beta of 0.78. The company has a 50 day moving average of $55.60 and a 200 day moving average of $60.88. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.16. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company had revenue of $3.81 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same period in the previous year, the business earned $1.13 EPS. The firm’s revenue for the quarter was down 6.5% on a year-over-year basis. As a group, research analysts expect that Edison International will post 4.95 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on EIX shares. The Goldman Sachs Group cut their price objective on Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Barclays lifted their price objective on Edison International from $64.00 to $67.00 and gave the company an “overweight” rating in a research report on Thursday, May 1st. UBS Group raised Edison International from a “neutral” rating to a “buy” rating and cut their price objective for the company from $69.00 to $65.00 in a research report on Tuesday, February 18th. Wolfe Research lowered shares of Edison International from an “outperform” rating to a “peer perform” rating in a report on Monday, June 9th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Edison International from $75.00 to $71.00 and set a “neutral” rating for the company in a report on Monday, May 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $76.89.

Edison International Company 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.