Aegis Wealth Management LLC Buys New Position in Edison International (NYSE:EIX)

Aegis Wealth Management LLC acquired a new position in shares of Edison International (NYSE:EIX - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,710 shares of the utilities provider's stock, valued at approximately $376,000.

Several other hedge funds have also recently bought and sold shares of EIX. Norges Bank bought a new stake in shares of Edison International during the fourth quarter worth $323,443,000. Canada Pension Plan Investment Board boosted its holdings in Edison International by 364.1% in the fourth quarter. Canada Pension Plan Investment Board now owns 3,369,535 shares of the utilities provider's stock valued at $269,024,000 after acquiring an additional 2,643,571 shares during the last quarter. Northern Trust Corp boosted its holdings in Edison International by 53.9% in the fourth quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider's stock valued at $459,642,000 after acquiring an additional 2,016,017 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Edison International by 149.3% in the fourth quarter. Ameriprise Financial Inc. now owns 2,793,795 shares of the utilities provider's stock valued at $223,057,000 after acquiring an additional 1,673,204 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Edison International by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider's stock valued at $3,879,408,000 after acquiring an additional 1,559,501 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. decreased their price target on Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a report on Monday, May 19th. The Goldman Sachs Group reduced their target price on Edison International from $88.00 to $68.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Barclays raised their target price on Edison International from $64.00 to $67.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Wells Fargo & Company reduced their target price on Edison International from $94.00 to $75.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Finally, Mizuho reduced their target price on Edison International from $75.00 to $66.00 and set an "outperform" rating on the stock in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $76.89.

Edison International Stock Down 0.5%

Shares of NYSE:EIX traded down $0.27 during trading on Friday, hitting $55.61. 6,137,558 shares of the company's stock traded hands, compared to its average volume of 3,055,331. Edison International has a 52 week low of $49.06 and a 52 week high of $88.77. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The company has a market cap of $21.40 billion, a price-to-earnings ratio of 16.31, a price-to-earnings-growth ratio of 1.07 and a beta of 0.77. The company 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 released its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.16. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business had revenue of $3.81 billion for the quarter, compared to analysts' expectations of $4.29 billion. During the same quarter in the previous year, the business posted $1.13 EPS. Edison International's revenue for the quarter was down 6.5% on a year-over-year basis. As a group, research analysts forecast that Edison International will post 4.95 EPS for the current fiscal year.

Edison International 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.