Quadrant Capital Group LLC boosted its position in shares of Edison International (NYSE:EIX) by 59.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,232 shares of the utilities provider’s stock after buying an additional 835 shares during the quarter. Quadrant Capital Group LLC’s holdings in Edison International were worth $131,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Sittner & Nelson LLC acquired a new position in shares of Edison International in the 4th quarter valued at $25,000. SOA Wealth Advisors LLC. lifted its stake in shares of Edison International by 84.5% in the 1st quarter. SOA Wealth Advisors LLC. now owns 428 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 196 shares during the period. NuWave Investment Management LLC acquired a new position in shares of Edison International in the 1st quarter valued at $25,000. Safeguard Investment Advisory Group LLC acquired a new position in shares of Edison International in the 4th quarter valued at $30,000. Finally, E Fund Management Co. Ltd. acquired a new position in shares of Edison International in the 1st quarter valued at $39,000. 87.08% of the stock is currently owned by institutional investors.
EIX stock opened at $57.78 on Thursday. The business’s 50-day moving average price is $58.35. The company has a market cap of $21.92 billion, a PE ratio of 26.75, a PEG ratio of 3.16 and a beta of 0.58. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.52 and a current ratio of 0.56. Edison International has a 1 year low of $48.47 and a 1 year high of $66.68.
Edison International (NYSE:EIX) last released its earnings results on Tuesday, April 27th. The utilities provider reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.03. The firm had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $2.92 billion. Edison International had a return on equity of 11.47% and a net margin of 6.68%. During the same quarter in the prior year, the company earned $0.63 EPS. On average, equities analysts expect that Edison International will post 4.5 earnings per share for the current year.
A number of research firms have recently weighed in on EIX. Morgan Stanley cut their price target on Edison International from $73.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 18th. TheStreet cut shares of Edison International from a “b-” rating to a “c” rating in a research report on Tuesday, April 27th. Barclays upped their price objective on shares of Edison International from $64.00 to $65.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 25th. KeyCorp lowered their price objective on shares of Edison International from $70.00 to $66.00 and set an “overweight” rating for the company in a research report on Wednesday, April 21st. Finally, Mizuho upped their price objective on shares of Edison International from $68.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, June 11th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Edison International has a consensus rating of “Buy” and a consensus target price of $69.17.
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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