Fifth Third Wealth Advisors LLC Sells 5,372 Shares of Edison International (NYSE:EIX)

Fifth Third Wealth Advisors LLC lowered its stake in shares of Edison International (NYSE:EIX - Free Report) by 52.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,883 shares of the utilities provider's stock after selling 5,372 shares during the quarter. Fifth Third Wealth Advisors LLC's holdings in Edison International were worth $288,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Sierra Ocean LLC bought a new position in Edison International during the fourth quarter worth $33,000. Bellwether Advisors LLC bought a new position in Edison International during the fourth quarter worth $34,000. OFI Invest Asset Management bought a new position in Edison International during the fourth quarter worth $38,000. SBI Securities Co. Ltd. bought a new position in Edison International during the fourth quarter worth $44,000. Finally, Mizuho Bank Ltd. bought a new position in Edison International during the fourth quarter worth $50,000. Institutional investors and hedge funds own 88.95% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on EIX. Mizuho reduced their price objective on Edison International from $75.00 to $66.00 and set an "outperform" rating on the stock in a research note on Monday, March 3rd. UBS Group upgraded Edison International from a "neutral" rating to a "buy" rating and cut their target price for the company from $69.00 to $65.00 in a research note on Tuesday, February 18th. Evercore ISI reiterated an "outperform" rating on shares of Edison International in a research note on Thursday, May 15th. The Goldman Sachs Group cut their target price on Edison International from $88.00 to $68.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Finally, Morgan Stanley set a $52.00 target price on Edison International and gave the company an "underweight" rating in a research note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $76.89.

Edison International Stock Up 0.2%

Shares of EIX traded up $0.09 during trading hours on Friday, reaching $53.73. The company's stock had a trading volume of 2,778,541 shares, compared to its average volume of 3,090,293. The firm has a market cap of $20.67 billion, a price-to-earnings ratio of 15.76, a P/E/G ratio of 1.07 and a beta of 0.78. Edison International has a 1-year low of $49.06 and a 1-year high of $88.77. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The company has a 50 day moving average of $56.22 and a two-hundred day moving average of $62.55.

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, beating analysts' consensus estimates of $1.21 by $0.16. The company had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $4.29 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm's quarterly revenue was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.13 EPS. As a group, research analysts predict 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.