Pallas Capital Advisors LLC Invests $1.82 Million in Edison International (NYSE:EIX)

Pallas Capital Advisors LLC acquired a new stake in shares of Edison International (NYSE:EIX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 30,828 shares of the utilities provider's stock, valued at approximately $1,816,000.

Other large investors also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its holdings in shares of Edison International by 60.2% in the 1st quarter. Farther Finance Advisors LLC now owns 4,409 shares of the utilities provider's stock worth $259,000 after acquiring an additional 1,657 shares during the last quarter. UMB Bank n.a. boosted its position in Edison International by 20.6% in the 1st quarter. UMB Bank n.a. now owns 2,880 shares of the utilities provider's stock valued at $170,000 after buying an additional 492 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of Edison International in the 1st quarter worth $203,000. SeaCrest Wealth Management LLC grew its holdings in shares of Edison International by 13.4% during the first quarter. SeaCrest Wealth Management LLC now owns 3,879 shares of the utilities provider's stock worth $229,000 after buying an additional 458 shares in the last quarter. Finally, Procyon Advisors LLC grew its stake in Edison International by 11.8% in the first quarter. Procyon Advisors LLC now owns 23,185 shares of the utilities provider's stock valued at $1,366,000 after purchasing an additional 2,443 shares in the last quarter. Institutional investors own 88.95% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on EIX shares. Evercore ISI reiterated an "outperform" rating on shares of Edison International in a research note on Thursday, May 15th. Morgan Stanley set a $52.00 price target on Edison International and gave the stock an "underweight" rating in a report on Thursday, May 22nd. Barclays lifted their price objective on Edison International from $64.00 to $67.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. dropped 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. Finally, The Goldman Sachs Group dropped their price target on Edison International from $88.00 to $68.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $76.89.

Edison International Trading Down 1.8%

Edison International stock traded down $0.90 during midday trading on Wednesday, reaching $49.54. The stock had a trading volume of 6,756,516 shares, compared to its average volume of 3,151,885. The company has a fifty day moving average of $55.86 and a 200 day moving average of $61.88. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. Edison International has a 52-week low of $48.38 and a 52-week high of $88.77. The firm has a market cap of $19.06 billion, a price-to-earnings ratio of 14.53, a price-to-earnings-growth ratio of 1.07 and a beta of 0.78.

Edison International (NYSE:EIX - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same period in the previous year, the company earned $1.13 earnings per share. The business's revenue for the quarter was down 6.5% on a year-over-year basis. On average, analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

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.