NorthCrest Asset Manangement LLC Takes Position in Edison International (NYSE:EIX)

NorthCrest Asset Manangement 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 (SEC). The institutional investor bought 7,441 shares of the utilities provider's stock, valued at approximately $438,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Tobam purchased a new position in Edison International during the 1st quarter worth approximately $665,000. Net Worth Advisory Group boosted its position in shares of Edison International by 5.1% in the first quarter. Net Worth Advisory Group now owns 7,322 shares of the utilities provider's stock worth $431,000 after buying an additional 357 shares during the period. Fifth Third Bancorp grew its holdings in shares of Edison International by 24.1% during the first quarter. Fifth Third Bancorp now owns 16,340 shares of the utilities provider's stock valued at $963,000 after buying an additional 3,178 shares in the last quarter. CX Institutional purchased a new position in shares of Edison International during the first quarter valued at $199,000. Finally, SG Americas Securities LLC raised its position in Edison International by 611.4% during the first quarter. SG Americas Securities LLC now owns 47,226 shares of the utilities provider's stock valued at $2,783,000 after buying an additional 40,588 shares during the period. Institutional investors and hedge funds own 88.95% of the company's stock.

Edison International Stock Down 0.1%

Shares of EIX traded down $0.03 during trading hours on Monday, hitting $48.29. 5,185,283 shares of the company were exchanged, compared to its average volume of 3,199,698. 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 company has a market cap of $18.58 billion, a PE ratio of 14.16, a PEG ratio of 1.07 and a beta of 0.78. The firm's 50 day moving average is $55.60 and its 200-day moving average is $60.88. Edison International has a 52 week low of $47.86 and a 52 week high of $88.77.

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 analysts' consensus estimates of $1.21 by $0.16. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same period in the prior year, the firm earned $1.13 EPS. The business's revenue was down 6.5% on a year-over-year basis. On average, equities research analysts forecast that Edison International will post 4.95 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on EIX. Wolfe Research lowered Edison International from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. JPMorgan Chase & Co. decreased their price target on shares of Edison International from $75.00 to $71.00 and set a "neutral" rating for the company in a report on Monday, May 19th. 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 research note on Friday, February 28th. Evercore ISI reiterated an "outperform" rating on shares of Edison International in a research report on Thursday, May 15th. Finally, UBS Group raised shares of Edison International from a "neutral" rating to a "buy" rating and decreased their target price for the company from $69.00 to $65.00 in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $76.89.

About Edison International

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.