Edison International (NYSE:EIX) Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue lifted its holdings in Edison International (NYSE:EIX) by 2.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,378 shares of the utilities provider’s stock after acquiring an additional 1,230 shares during the quarter. State of Alaska Department of Revenue’s holdings in Edison International were worth $2,673,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in EIX. Ieq Capital LLC increased its stake in shares of Edison International by 28.7% in the fourth quarter. Ieq Capital LLC now owns 18,856 shares of the utilities provider’s stock worth $1,505,000 after acquiring an additional 4,208 shares during the period. Handelsbanken Fonder AB increased its stake in shares of Edison International by 814.8% in the fourth quarter. Handelsbanken Fonder AB now owns 224,521 shares of the utilities provider’s stock worth $17,926,000 after acquiring an additional 199,979 shares during the period. Oxbow Advisors LLC increased its stake in shares of Edison International by 4.6% in the fourth quarter. Oxbow Advisors LLC now owns 33,654 shares of the utilities provider’s stock worth $2,687,000 after acquiring an additional 1,487 shares during the period. WESPAC Advisors LLC increased its stake in shares of Edison International by 6.4% in the fourth quarter. WESPAC Advisors LLC now owns 9,335 shares of the utilities provider’s stock worth $745,000 after acquiring an additional 565 shares during the period. Finally, Howard Capital Management Inc. increased its stake in shares of Edison International by 10.1% in the fourth quarter. Howard Capital Management Inc. now owns 6,060 shares of the utilities provider’s stock worth $484,000 after acquiring an additional 554 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on EIX shares. JPMorgan Chase & Co. cut their price objective on shares of Edison International from $75.00 to $71.00 and set a “neutral” rating on the stock in a research note on Monday, May 19th. Mizuho dropped their price target on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. The Goldman Sachs Group decreased their price objective on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Wolfe Research downgraded shares of Edison International from an “outperform” rating to a “peer perform” rating in a report on Monday, June 9th. Finally, Morgan Stanley decreased their price objective on shares of Edison International from $52.00 to $51.00 and set an “underweight” rating on the stock in a report on Wednesday. One equities research 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.com, the company has a consensus rating of “Moderate Buy” and an average price target of $76.82.

Edison International Price Performance

Shares of EIX stock opened at $49.61 on Friday. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.96 and a quick ratio of 0.89. The firm’s 50-day moving average is $55.04 and its two-hundred day moving average is $59.80. Edison International has a 12 month low of $47.73 and a 12 month high of $88.77. The company has a market capitalization of $19.09 billion, a PE ratio of 7.04, a price-to-earnings-growth ratio of 1.17 and a beta of 0.78.

Edison International (NYSE:EIX) last issued its 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. Edison International had a net margin of 16.84% and a return on equity of 13.21%. The company had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same period in the previous year, the firm earned $1.13 earnings per share. Edison International’s quarterly revenue was down 6.5% compared to the same quarter last year. Analysts predict that Edison International will post 4.95 earnings per share for the current year.

About Edison International

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.