Key Colony Management LLC Acquires New Shares in Edison International (NYSE:EIX)

Key Colony Management LLC purchased a new stake in shares of Edison International (NYSE:EIX) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,000 shares of the utilities provider’s stock, valued at approximately $295,000. Edison International makes up about 0.5% of Key Colony Management LLC’s investment portfolio, making the stock its 6th biggest position.

A number of other hedge funds have also recently made changes to their positions in EIX. Crews Bank & Trust acquired a new stake in shares of Edison International during the fourth quarter valued at about $25,000. Sierra Ocean LLC acquired a new position in shares of Edison International in the fourth quarter worth approximately $33,000. Bellwether Advisors LLC acquired a new position in shares of Edison International in the fourth quarter worth approximately $34,000. OFI Invest Asset Management acquired a new position in shares of Edison International in the fourth quarter worth approximately $38,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Edison International in the fourth quarter worth approximately $44,000. 88.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Wells Fargo & Company cut their price objective on Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Barclays lifted their price objective on Edison International from $64.00 to $67.00 and gave the stock an “overweight” rating in a research note on Thursday, May 1st. 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 note on Tuesday, March 4th. JPMorgan Chase & Co. lowered their target price on Edison International from $75.00 to $71.00 and set a “neutral” rating for the company in a report on Monday, May 19th. Finally, UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $69.00 to $65.00 in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, four have issued 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 price target of $76.89.

Edison International Trading Up 1.3%

NYSE EIX opened at $55.84 on Friday. The company has a market cap of $21.49 billion, a price-to-earnings ratio of 16.38, a P/E/G ratio of 1.07 and a beta of 0.77. Edison International has a 52 week low of $49.06 and a 52 week high of $88.77. The business has a 50 day moving average price of $56.61 and a 200-day moving average price of $63.74. 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 released its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.37 EPS for the quarter, beating the consensus estimate of $1.21 by $0.16. The firm had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $4.29 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company’s quarterly revenue was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.13 earnings per share. As a group, equities analysts expect 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.