Pallas Capital Advisors LLC Takes Position in Edison International (NYSE:EIX)

Pallas Capital Advisors LLC purchased a new stake in Edison International (NYSE:EIX) during the first quarter, according to its most recent filing with the SEC. The firm purchased 30,828 shares of the utilities provider’s stock, valued at approximately $1,816,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sierra Ocean LLC purchased a new position in shares of Edison International in the 4th quarter valued at $33,000. Bellwether Advisors LLC purchased a new position in shares of Edison International in the 4th quarter valued at $34,000. OFI Invest Asset Management purchased a new position in shares of Edison International in the 4th quarter valued at $38,000. SBI Securities Co. Ltd. purchased a new position in shares of Edison International in the 4th quarter valued at $44,000. Finally, Mizuho Bank Ltd. purchased a new position in shares of Edison International in the 4th quarter valued at $50,000. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Evercore ISI restated an “outperform” rating on shares of Edison International in a research note on Thursday, May 15th. Barclays boosted their target price on Edison International from $64.00 to $67.00 and gave the stock an “overweight” rating in a research note on Thursday, May 1st. Wells Fargo & Company dropped their target price 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. The Goldman Sachs Group dropped their target price 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. Finally, Morgan Stanley set a $52.00 target price on Edison International and gave the stock an “underweight” rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.89.

Edison International Stock Performance

Shares of EIX opened at $49.43 on Tuesday. The stock has a 50-day moving average of $56.01 and a two-hundred day moving average of $61.96. Edison International has a one year low of $48.38 and a one year high of $88.77. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The stock has a market cap of $19.02 billion, a P/E ratio of 14.50, a P/E/G ratio of 1.07 and a beta of 0.78.

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