Edison International (NYSE:EIX) Reaches New 12-Month Low - Here's What Happened

Edison International (NYSE:EIX - Get Free Report) shares hit a new 52-week low on Tuesday . The stock traded as low as $47.73 and last traded at $48.57, with a volume of 184767 shares. The stock had previously closed at $48.35.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on EIX. Evercore ISI reissued an "outperform" rating on shares of Edison International in a research note on Thursday, May 15th. The Goldman Sachs Group decreased their target price on shares of Edison International from $88.00 to $68.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Wells Fargo & Company dropped their price objective on shares of Edison International from $94.00 to $75.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Barclays lifted their target price on Edison International from $64.00 to $67.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Finally, Wolfe Research lowered shares of Edison International from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $76.82.

Edison International Stock Down 1.7%

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 stock's fifty day simple moving average is $55.17 and its 200-day simple moving average is $60.22. The stock has a market cap of $19.09 billion, a P/E ratio of 7.04, a PEG ratio of 1.19 and a beta of 0.78.

Edison International (NYSE:EIX - Get Free Report) last announced its quarterly earnings results 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 the consensus estimate of $4.29 billion. During the same quarter last year, the business posted $1.13 EPS. The business's revenue was down 6.5% on a year-over-year basis. On average, research analysts anticipate that Edison International will post 4.95 earnings per share for the current year.

Institutional Trading of Edison International

Several hedge funds have recently added to or reduced their stakes in the business. Norges Bank bought a new position in Edison International in the 4th quarter valued at about $323,443,000. AQR Capital Management LLC increased its position in shares of Edison International by 190.5% during the 1st quarter. AQR Capital Management LLC now owns 5,428,038 shares of the utilities provider's stock valued at $319,169,000 after purchasing an additional 3,559,602 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Edison International by 111.6% in the first quarter. JPMorgan Chase & Co. now owns 5,663,427 shares of the utilities provider's stock valued at $333,689,000 after buying an additional 2,987,318 shares during the period. ATLAS Infrastructure Partners UK Ltd. grew its holdings in Edison International by 197.2% during the first quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,395,732 shares of the utilities provider's stock worth $258,997,000 after acquiring an additional 2,916,645 shares during the period. Finally, Canada Pension Plan Investment Board grew its holdings in Edison International by 364.1% during the fourth quarter. Canada Pension Plan Investment Board now owns 3,369,535 shares of the utilities provider's stock worth $269,024,000 after acquiring an additional 2,643,571 shares during the period. Institutional investors own 88.95% of the company's stock.

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.