Massachusetts Financial Services Co. MA increased its position in shares of Edison International (NYSE:EIX) by 15.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,615,118 shares of the utilities provider’s stock after buying an additional 356,017 shares during the period. Massachusetts Financial Services Co. MA owned 0.72% of Edison International worth $143,282,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Alliancebernstein L.P. increased its stake in shares of Edison International by 0.4% in the first quarter. Alliancebernstein L.P. now owns 606,800 shares of the utilities provider’s stock valued at $33,247,000 after buying an additional 2,620 shares during the period. M&T Bank Corp increased its stake in shares of Edison International by 11.5% in the first quarter. M&T Bank Corp now owns 44,296 shares of the utilities provider’s stock valued at $2,428,000 after buying an additional 4,552 shares during the period. Xact Kapitalforvaltning AB increased its stake in shares of Edison International by 0.8% in the first quarter. Xact Kapitalforvaltning AB now owns 82,170 shares of the utilities provider’s stock valued at $4,502,000 after buying an additional 665 shares during the period. Korea Investment CORP acquired a new position in shares of Edison International in the first quarter valued at approximately $4,915,000. Finally, PFS Investments Inc. increased its stake in shares of Edison International by 101.9% in the first quarter. PFS Investments Inc. now owns 30,049 shares of the utilities provider’s stock valued at $1,646,000 after buying an additional 15,164 shares during the period. Institutional investors and hedge funds own 87.40% of the company’s stock.
Several research analysts have recently issued reports on EIX shares. Wells Fargo & Co lowered their price objective on Edison International from $75.00 to $65.00 and set an “equal weight” rating for the company in a research note on Friday, May 1st. Bank of America upgraded Edison International from a “neutral” rating to a “buy” rating and reduced their target price for the company from $69.00 to $63.00 in a report on Monday, May 4th. Barclays reduced their target price on Edison International from $68.00 to $52.00 and set an “equal weight” rating on the stock in a report on Thursday, March 26th. Vertical Research began coverage on Edison International in a report on Monday, February 24th. They issued a “buy” rating and a $87.00 target price on the stock. Finally, ValuEngine cut Edison International from a “hold” rating to a “sell” rating in a report on Thursday, April 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $70.71.
Shares of Edison International stock traded down $3.82 on Thursday, reaching $56.52. 1,952,488 shares of the company’s stock were exchanged, compared to its average volume of 2,521,581. Edison International has a 52 week low of $43.63 and a 52 week high of $78.93. The firm’s 50-day moving average is $58.05 and its two-hundred day moving average is $66.14. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.73 and a current ratio of 0.79. The company has a market capitalization of $22.13 billion, a P/E ratio of 17.49, a price-to-earnings-growth ratio of 4.19 and a beta of 0.51.
Edison International (NYSE:EIX) last released its quarterly earnings results on Thursday, April 30th. The utilities provider reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.14). The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $3.20 billion. Edison International had a net margin of 10.15% and a return on equity of 11.33%. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.63 earnings per share. On average, analysts expect that Edison International will post 4.44 EPS for the current fiscal year.
Edison International Profile
Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.
Further Reading: Net Income
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