Centennial Wealth Advisory LLC grew its stake in shares of Edison International (NYSE:EIX – Free Report) by 33.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,938 shares of the utilities provider’s stock after buying an additional 1,995 shares during the period. Centennial Wealth Advisory LLC’s holdings in Edison International were worth $468,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. State of Alaska Department of Revenue raised its stake in Edison International by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 45,378 shares of the utilities provider’s stock worth $2,673,000 after acquiring an additional 1,230 shares during the period. CWA Asset Management Group LLC increased its stake in shares of Edison International by 33.4% in the first quarter. CWA Asset Management Group LLC now owns 25,285 shares of the utilities provider’s stock worth $1,490,000 after purchasing an additional 6,329 shares in the last quarter. LifeWealth Investments LLC raised its position in shares of Edison International by 56.2% during the 1st quarter. LifeWealth Investments LLC now owns 6,259 shares of the utilities provider’s stock valued at $369,000 after purchasing an additional 2,252 shares during the period. San Luis Wealth Advisors LLC bought a new stake in shares of Edison International during the 1st quarter valued at $638,000. Finally, Rakuten Securities Inc. lifted its stake in shares of Edison International by 4,633.3% during the 1st quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider’s stock valued at $25,000 after buying an additional 417 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on EIX shares. Wolfe Research lowered Edison International from an “outperform” rating to a “peer perform” rating in a research note on Monday, June 9th. Morgan Stanley dropped their price objective on Edison International from $52.00 to $51.00 and set an “underweight” rating for the company in a research note on Wednesday. Evercore ISI reiterated an “outperform” rating on shares of Edison International in a research report on Thursday, May 15th. Wells Fargo & Company decreased 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. Finally, Barclays upped their price target on Edison International from $64.00 to $67.00 and gave the stock an “overweight” rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $76.82.
Edison International Price Performance
Shares of Edison International stock opened at $50.51 on Thursday. The firm has a market cap of $19.43 billion, a PE ratio of 7.16, a PEG ratio of 1.16 and a beta of 0.78. The stock has a 50 day moving average of $55.27 and a 200 day moving average of $60.46. The company has a current ratio of 0.96, a quick ratio of 0.89 and a debt-to-equity ratio of 2.06. Edison International has a 12 month low of $47.73 and a 12 month high of $88.77.
Edison International (NYSE:EIX – Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.16. Edison International had a return on equity of 13.21% and a net margin of 16.84%. The business had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $4.29 billion. During the same period in the prior year, the firm earned $1.13 EPS. The company’s revenue for the quarter was down 6.5% on a year-over-year basis. On average, research analysts expect that Edison International will post 4.95 EPS 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.
Recommended Stories
- Five stocks we like better than Edison International
- How to Short a Stock in 5 Easy Steps
- Chime’s Smart IPO: Half the Valuation, Double the Strength
- Manufacturing Stocks Investing
- Why Quantum Computing Inc. Is the Quiet Winner in Quantum Stocks
- What Does a Gap Up Mean in Stocks? How to Play the Gap
- 3 Catalysts in 7 Days: Archer’s Growth Story Just Accelerated
Want to see what other hedge funds are holding EIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Edison International (NYSE:EIX – Free Report).
Receive News & Ratings for Edison International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edison International and related companies with MarketBeat.com's FREE daily email newsletter.