Kestra Advisory Services LLC reduced its stake in shares of Edison International (NYSE:EIX) by 20.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 6,342 shares of the utilities provider’s stock after selling 1,585 shares during the period. Kestra Advisory Services LLC’s holdings in Edison International were worth $372,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Cigna Investments Inc. New boosted its stake in shares of Edison International by 4.5% in the first quarter. Cigna Investments Inc. New now owns 13,494 shares of the utilities provider’s stock worth $792,000 after buying an additional 582 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Edison International during the 1st quarter worth approximately $256,000. Advisors Asset Management Inc. increased its holdings in shares of Edison International by 49.0% during the 1st quarter. Advisors Asset Management Inc. now owns 98,370 shares of the utilities provider’s stock valued at $5,764,000 after purchasing an additional 32,339 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Edison International by 9.2% in the 1st quarter. BlackRock Inc. now owns 37,412,921 shares of the utilities provider’s stock valued at $2,192,396,000 after purchasing an additional 3,140,052 shares during the period. Finally, Pzena Investment Management LLC boosted its holdings in Edison International by 65.3% during the first quarter. Pzena Investment Management LLC now owns 13,287,086 shares of the utilities provider’s stock worth $778,623,000 after buying an additional 5,248,524 shares in the last quarter. Institutional investors and hedge funds own 87.08% of the company’s stock.
Shares of EIX opened at $57.97 on Friday. Edison International has a 52-week low of $48.47 and a 52-week high of $66.68. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.52 and a current ratio of 0.56. The business’s fifty day simple moving average is $58.45. The firm has a market cap of $22.00 billion, a PE ratio of 26.84, a PEG ratio of 3.07 and a beta of 0.58.
Edison International (NYSE:EIX) last posted its quarterly earnings results on Tuesday, April 27th. The utilities provider reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.03. Edison International had a net margin of 6.68% and a return on equity of 11.47%. The firm had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same period last year, the firm posted $0.63 earnings per share. On average, sell-side analysts predict that Edison International will post 4.5 EPS for the current year.
EIX has been the subject of a number of analyst reports. Barclays upped their price objective on shares of Edison International from $64.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 25th. TheStreet downgraded Edison International from a “b-” rating to a “c” rating in a research report on Tuesday, April 27th. Wells Fargo & Company boosted their price objective on Edison International from $66.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, April 28th. KeyCorp reduced their target price on Edison International from $70.00 to $66.00 and set an “overweight” rating for the company in a research note on Wednesday, April 21st. Finally, Mizuho boosted their price target on shares of Edison International from $68.00 to $77.00 and gave the stock a “buy” rating in a report on Friday. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $69.29.
Edison International Company Profile
Edison International, through its subsidiaries, generates and distributes electric power. As of March 03, 2021, it delivered electricity to 15 million residential, commercial, industrial, public authorities, agricultural, and other customers across Southern, Central, and Coastal California. Edison International also provides energy solutions to commercial and industrial users.
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