111 Capital Acquires New Stake in Edison International (NYSE:EIX)

111 Capital bought a new position in Edison International (NYSE:EIX - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 23,290 shares of the utilities provider's stock, valued at approximately $1,859,000.

Several other institutional investors and hedge funds have also bought and sold shares of EIX. Swedbank AB raised its position in shares of Edison International by 3.3% in the 4th quarter. Swedbank AB now owns 523,433 shares of the utilities provider's stock worth $41,791,000 after acquiring an additional 16,614 shares in the last quarter. KBC Group NV grew its stake in Edison International by 23.7% in the fourth quarter. KBC Group NV now owns 61,342 shares of the utilities provider's stock worth $4,898,000 after purchasing an additional 11,764 shares during the period. abrdn plc raised its holdings in Edison International by 19.5% in the fourth quarter. abrdn plc now owns 1,695,182 shares of the utilities provider's stock worth $134,335,000 after purchasing an additional 276,656 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Edison International by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,416,770 shares of the utilities provider's stock worth $192,955,000 after purchasing an additional 76,654 shares in the last quarter. Finally, Mediolanum International Funds Ltd purchased a new position in Edison International during the fourth quarter valued at $583,000. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of Edison International from $94.00 to $75.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. Mizuho cut their price objective on shares of Edison International from $75.00 to $66.00 and set an "outperform" rating on the stock in a report on Monday, March 3rd. Evercore ISI reiterated an "outperform" rating on shares of Edison International in a report on Thursday, May 15th. Barclays boosted their price target on Edison International from $64.00 to $67.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. reduced their price objective on Edison International from $75.00 to $71.00 and set a "neutral" rating for the company in a research report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $76.89.

Edison International Stock Down 0.5%

Shares of EIX stock traded down $0.27 during mid-day trading on Friday, hitting $55.61. The company's stock had a trading volume of 6,137,558 shares, compared to its average volume of 3,055,331. The stock has a market cap of $21.40 billion, a price-to-earnings ratio of 16.31, a PEG ratio of 1.07 and a beta of 0.77. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. Edison International has a 52-week low of $49.06 and a 52-week high of $88.77. The business has a 50-day moving average price of $56.58 and a 200 day moving average price of $63.29.

Edison International (NYSE:EIX - Get Free Report) last issued its earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share for the quarter, topping analysts' consensus estimates of $1.21 by $0.16. The business had revenue of $3.81 billion during the quarter, compared to analyst estimates of $4.29 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. Edison International's revenue was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.13 EPS. Research analysts predict that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Company Profile

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.