Janney Montgomery Scott LLC Grows Position in Edison International (NYSE:EIX)

Janney Montgomery Scott LLC raised its position in shares of Edison International (NYSE:EIX - Free Report) by 17.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 107,332 shares of the utilities provider's stock after purchasing an additional 15,718 shares during the quarter. Janney Montgomery Scott LLC's holdings in Edison International were worth $6,324,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of EIX. Bellwether Advisors LLC purchased a new stake in shares of Edison International during the 4th quarter valued at about $34,000. OFI Invest Asset Management purchased a new stake in shares of Edison International during the 4th quarter valued at about $38,000. SBI Securities Co. Ltd. purchased a new stake in shares of Edison International during the 4th quarter valued at about $44,000. Mizuho Bank Ltd. purchased a new stake in shares of Edison International during the 4th quarter valued at about $50,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of Edison International during the 4th quarter valued at about $56,000. 88.95% of the stock is currently owned by institutional investors.

Edison International Price Performance

NYSE:EIX traded down $0.85 during trading hours on Friday, hitting $49.61. 5,841,947 shares of the stock traded hands, compared to its average volume of 3,237,844. The company has a quick ratio of 0.89, a current ratio of 0.96 and a debt-to-equity ratio of 2.06. Edison International has a 1 year low of $47.73 and a 1 year high of $88.77. The company has a market cap of $19.09 billion, a price-to-earnings ratio of 7.04, a price-to-earnings-growth ratio of 1.17 and a beta of 0.78. The stock has a 50 day moving average price of $55.04 and a 200 day moving average price of $59.63.

Edison International (NYSE:EIX - Get Free Report) last issued its quarterly earnings results 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 net margin of 16.84% and a return on equity of 13.21%. The business had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the previous year, the firm earned $1.13 earnings per share. The company's revenue for the quarter was down 6.5% on a year-over-year basis. Sell-side analysts forecast that Edison International will post 4.95 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

EIX has been the topic of a number of recent analyst reports. The Goldman Sachs Group dropped their price target on shares of Edison International from $88.00 to $68.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Wells Fargo & Company dropped their price objective on shares of Edison International from $94.00 to $75.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Morgan Stanley dropped their price objective on shares of Edison International from $52.00 to $51.00 and set an "underweight" rating on the stock in a report on Wednesday. Evercore ISI reissued an "outperform" rating on shares of Edison International in a report on Thursday, May 15th. Finally, Wolfe Research downgraded shares of Edison International from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Edison International presently has a consensus rating of "Moderate Buy" and a consensus price target of $76.82.

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.