Fifth Third Bancorp Purchases 3,178 Shares of Edison International (NYSE:EIX)

Fifth Third Bancorp raised its holdings in shares of Edison International (NYSE:EIX) by 24.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,340 shares of the utilities provider’s stock after acquiring an additional 3,178 shares during the quarter. Fifth Third Bancorp’s holdings in Edison International were worth $963,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. CX Institutional bought a new position in Edison International in the first quarter valued at approximately $199,000. SG Americas Securities LLC lifted its stake in Edison International by 611.4% in the first quarter. SG Americas Securities LLC now owns 47,226 shares of the utilities provider’s stock valued at $2,783,000 after acquiring an additional 40,588 shares during the last quarter. MADDEN SECURITIES Corp grew its position in shares of Edison International by 301.8% in the 1st quarter. MADDEN SECURITIES Corp now owns 56,550 shares of the utilities provider’s stock valued at $3,332,000 after acquiring an additional 42,475 shares during the period. Harbor Capital Advisors Inc. increased its position in Edison International by 8.4% during the first quarter. Harbor Capital Advisors Inc. now owns 10,381 shares of the utilities provider’s stock worth $612,000 after buying an additional 803 shares during the last quarter. Finally, International Private Wealth Advisors LLC raised its stake in Edison International by 22.2% in the 1st quarter. International Private Wealth Advisors LLC now owns 5,546 shares of the utilities provider’s stock valued at $327,000 after acquiring an additional 1,009 shares during the period. 88.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. The Goldman Sachs Group reduced their price objective on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Barclays upped their price target on shares of Edison International from $64.00 to $67.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. cut their price objective on shares of Edison International from $75.00 to $71.00 and set a “neutral” rating for the company in a research report on Monday, May 19th. Morgan Stanley set a $52.00 target price on Edison International and gave the company an “underweight” rating in a research report on Thursday, May 22nd. Finally, Mizuho dropped their price target on Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $76.89.

Edison International Price Performance

EIX stock opened at $48.29 on Tuesday. The company’s 50-day moving average price is $55.52 and its two-hundred day moving average price is $60.61. The firm has a market cap of $18.58 billion, a P/E ratio of 14.16, a P/E/G ratio of 1.07 and a beta of 0.78. 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 has a 12 month low of $47.86 and a 12 month high of $88.77.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $4.29 billion. During the same period last year, the firm posted $1.13 earnings per share. The firm’s quarterly revenue was down 6.5% compared to the same quarter last year. On average, analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

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.