MADDEN SECURITIES Corp Raises Stock Holdings in Edison International (NYSE:EIX)

MADDEN SECURITIES Corp boosted its stake in shares of Edison International (NYSE:EIX - Free Report) by 301.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 56,550 shares of the utilities provider's stock after buying an additional 42,475 shares during the period. Edison International accounts for 1.3% of MADDEN SECURITIES Corp's investment portfolio, making the stock its 23rd largest position. MADDEN SECURITIES Corp's holdings in Edison International were worth $3,332,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in Edison International during the fourth quarter worth about $323,443,000. Canada Pension Plan Investment Board grew its holdings in shares of 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 purchasing an additional 2,643,571 shares in the last quarter. Northern Trust Corp increased its stake in Edison International by 53.9% during the 4th quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider's stock worth $459,642,000 after buying an additional 2,016,017 shares during the period. Ameriprise Financial Inc. lifted its holdings in Edison International by 149.3% during the 4th quarter. Ameriprise Financial Inc. now owns 2,793,795 shares of the utilities provider's stock worth $223,057,000 after buying an additional 1,673,204 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Edison International by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider's stock valued at $3,879,408,000 after buying an additional 1,559,501 shares during the period. Hedge funds and other institutional investors own 88.95% of the company's stock.

Edison International Stock Performance

Shares of EIX traded up $1.00 during mid-day trading on Tuesday, reaching $50.42. The company's stock had a trading volume of 5,467,571 shares, compared to its average volume of 3,128,141. Edison International has a 1-year low of $48.38 and a 1-year high of $88.77. The business has a 50-day simple moving average of $56.01 and a two-hundred day simple moving average of $61.96. 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 stock has a market cap of $19.40 billion, a P/E ratio of 14.78, a PEG ratio of 1.07 and a beta of 0.78.

Edison International (NYSE:EIX - Get Free Report) last released its earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.21 by $0.16. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same period in the prior year, the company posted $1.13 EPS. The company's revenue was down 6.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on EIX. Wells Fargo & Company cut their target price on Edison International from $94.00 to $75.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. Barclays upped their price objective on shares of Edison International from $64.00 to $67.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. cut their target price on Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a research report on Monday, May 19th. Evercore ISI restated an "outperform" rating on shares of Edison International in a research note on Thursday, May 15th. Finally, Wolfe Research downgraded Edison International from an "outperform" rating to a "peer perform" rating in a report on Monday. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $76.89.

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.