Hennion & Walsh Asset Management Inc. Has $591,000 Stock Position in Edison International (NYSE:EIX)

Hennion & Walsh Asset Management Inc. lifted its stake in shares of Edison International (NYSE:EIX - Free Report) by 241.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,029 shares of the utilities provider's stock after acquiring an additional 7,088 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in Edison International were worth $591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in EIX. Sierra Ocean LLC bought a new stake in Edison International in the fourth quarter worth approximately $33,000. Bellwether Advisors LLC purchased a new position in Edison International during the 4th quarter worth $34,000. OFI Invest Asset Management bought a new stake in Edison International in the 4th quarter worth about $38,000. SBI Securities Co. Ltd. bought a new position in shares of Edison International in the fourth quarter valued at approximately $44,000. Finally, Mizuho Bank Ltd. bought a new position in Edison International in the 4th quarter valued at $50,000. Institutional investors own 88.95% of the company's stock.

Edison International Stock Up 0.2%

Shares of NYSE EIX opened at $53.73 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. Edison International has a 12 month low of $49.06 and a 12 month high of $88.77. The firm has a market capitalization of $20.67 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 1.07 and a beta of 0.78. The firm has a fifty day simple moving average of $56.22 and a two-hundred day simple moving average of $62.39.

Edison International (NYSE:EIX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.16. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company 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 company earned $1.13 earnings per share. Edison International's quarterly revenue was down 6.5% on a year-over-year basis. Equities analysts expect that Edison International will post 4.95 earnings per share for the current year.

Analyst Upgrades and Downgrades

EIX has been the subject of several research reports. Wells Fargo & Company reduced their price objective on Edison International from $94.00 to $75.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Evercore ISI restated an "outperform" rating on shares of Edison International in a research report on Thursday, May 15th. JPMorgan Chase & Co. lowered their price target 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. Morgan Stanley set a $52.00 price target on shares of Edison International and gave the stock an "underweight" rating in a research note on Thursday, May 22nd. Finally, Mizuho lowered their target price on Edison International from $75.00 to $66.00 and set an "outperform" rating for the company in a research note on Monday, March 3rd. 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 stock. Based on data from MarketBeat.com, the company presently 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.

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