4,819 Shares in Edison International (NYSE:EIX) Purchased by Firethorn Wealth Partners LLC

Firethorn Wealth Partners LLC bought a new stake in shares of Edison International (NYSE:EIX - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,819 shares of the utilities provider's stock, valued at approximately $284,000.

Several other institutional investors have also recently made changes to their positions in the company. Sierra Ocean LLC purchased a new position in Edison International in the fourth quarter valued at $33,000. Bellwether Advisors LLC acquired a new stake in shares of Edison International during the 4th quarter valued at about $34,000. OFI Invest Asset Management acquired a new position in Edison International in the 4th quarter worth about $38,000. SBI Securities Co. Ltd. acquired a new position in Edison International in the 4th quarter worth about $44,000. Finally, Mizuho Bank Ltd. purchased a new position in Edison International during the fourth quarter worth approximately $50,000. 88.95% of the stock is owned by hedge funds and other institutional investors.

Edison International Stock Performance

Shares of EIX traded down $0.79 during mid-day trading on Thursday, reaching $53.58. 3,289,129 shares of the company's stock traded hands, compared to its average volume of 3,070,425. Edison International has a 12 month low of $49.06 and a 12 month high of $88.77. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The stock has a market capitalization of $20.61 billion, a P/E ratio of 15.71, a price-to-earnings-growth ratio of 1.07 and a beta of 0.77. The business's 50-day moving average price is $56.43 and its 200-day moving average price is $62.98.

Edison International (NYSE:EIX - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.37 EPS for the quarter, topping 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 net margin of 8.52% and a return on equity of 13.17%. Edison International's revenue was down 6.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.13 EPS. Equities analysts predict that Edison International will post 4.95 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on EIX. The Goldman Sachs Group reduced their target price on Edison International from $88.00 to $68.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. JPMorgan Chase & Co. decreased their price objective on Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a report on Monday, May 19th. Wells Fargo & Company cut their price objective on Edison International from $94.00 to $75.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Barclays lifted their price objective on shares of Edison International from $64.00 to $67.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Finally, Evercore ISI reaffirmed an "outperform" rating on shares of Edison International in a research note on Thursday, May 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $76.89.

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.