Key Colony Management LLC Buys Shares of 5,000 Edison International (NYSE:EIX)

Key Colony Management LLC acquired a new stake in Edison International (NYSE:EIX - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund acquired 5,000 shares of the utilities provider's stock, valued at approximately $295,000. Edison International accounts for 0.5% of Key Colony Management LLC's portfolio, making the stock its 6th largest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bleakley Financial Group LLC lifted its stake in Edison International by 2.9% in the fourth quarter. Bleakley Financial Group LLC now owns 6,297 shares of the utilities provider's stock worth $503,000 after acquiring an additional 176 shares during the period. Whittier Trust Co. lifted its stake in Edison International by 4.9% in the fourth quarter. Whittier Trust Co. now owns 4,295 shares of the utilities provider's stock worth $343,000 after acquiring an additional 200 shares during the period. Vontobel Holding Ltd. lifted its stake in Edison International by 5.0% in the fourth quarter. Vontobel Holding Ltd. now owns 4,579 shares of the utilities provider's stock worth $366,000 after acquiring an additional 216 shares during the period. FSB Premier Wealth Management Inc. lifted its stake in Edison International by 5.2% in the fourth quarter. FSB Premier Wealth Management Inc. now owns 4,403 shares of the utilities provider's stock worth $352,000 after acquiring an additional 217 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its stake in Edison International by 0.4% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 54,673 shares of the utilities provider's stock worth $4,365,000 after acquiring an additional 218 shares during the period. 88.95% of the stock is currently owned by institutional investors.

Edison International Trading Up 0.6%

NYSE:EIX traded up $0.35 during midday trading on Tuesday, hitting $55.78. 788,865 shares of the company traded hands, compared to its average volume of 3,046,589. The firm's fifty day moving average is $56.53 and its 200-day moving average is $63.09. 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 $21.46 billion, a P/E ratio of 16.36, a P/E/G ratio of 1.07 and a beta of 0.77. 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 (NYSE:EIX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, topping 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 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 prior year, the company earned $1.13 EPS. The business's revenue was down 6.5% compared to the same quarter last year. On average, sell-side analysts predict that Edison International will post 4.95 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on EIX shares. Wells Fargo & Company dropped their price target on Edison International from $94.00 to $75.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Evercore ISI restated an "outperform" rating on shares of Edison International in a research note on Thursday, May 15th. Mizuho dropped their price target 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. UBS Group upgraded Edison International from a "neutral" rating to a "buy" rating and dropped their price target for the stock from $69.00 to $65.00 in a research note on Tuesday, February 18th. Finally, JPMorgan Chase & Co. dropped their price target on Edison International from $75.00 to $71.00 and set a "neutral" rating for the company in a research note on Monday, May 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average 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.