Parallel Advisors LLC Has $559,000 Stock Holdings in Edison International (NYSE:EIX)

Parallel Advisors LLC lifted its holdings in shares of Edison International (NYSE:EIX - Free Report) by 154.5% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 9,490 shares of the utilities provider's stock after purchasing an additional 5,761 shares during the period. Parallel Advisors LLC's holdings in Edison International were worth $559,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in EIX. Sierra Ocean LLC bought a new stake in shares of Edison International during the fourth quarter worth $33,000. Bellwether Advisors LLC acquired a new position in shares of Edison International during the fourth quarter valued at $34,000. OFI Invest Asset Management acquired a new position in shares of Edison International during the fourth quarter valued at $38,000. SBI Securities Co. Ltd. acquired a new position in shares of Edison International during the fourth quarter valued at $44,000. Finally, Mizuho Bank Ltd. acquired a new position in shares of Edison International during the fourth quarter valued at $50,000. Institutional investors own 88.95% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on EIX shares. JPMorgan Chase & Co. cut their price target on Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a research note on Monday, May 19th. Wells Fargo & Company cut their price target on Edison International from $94.00 to $75.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. Morgan Stanley set a $52.00 target price on Edison International and gave the company an "underweight" rating in a research note on Thursday, May 22nd. Mizuho cut their target price on Edison International from $75.00 to $66.00 and set an "outperform" rating on the stock in a research note on Monday, March 3rd. Finally, UBS Group raised Edison International from a "neutral" rating to a "buy" rating and cut 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, four have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Edison International currently has a consensus rating of "Moderate Buy" and a consensus price target of $76.89.

Edison International Stock Performance

NYSE:EIX traded down $1.58 during mid-day trading on Wednesday, hitting $54.42. 4,310,114 shares of the stock were exchanged, compared to its average volume of 3,063,767. The stock has a market capitalization of $20.94 billion, a price-to-earnings ratio of 15.96, a price-to-earnings-growth ratio of 1.07 and a beta of 0.77. The firm's 50-day simple moving average is $56.51 and its 200 day simple moving average is $63.04. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. Edison International has a fifty-two week low of $49.06 and a fifty-two week high of $88.77.

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 for the quarter, topping the consensus estimate of $1.21 by $0.16. The business had revenue of $3.81 billion during the quarter, compared to analysts' expectations of $4.29 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm's revenue for the quarter was down 6.5% compared to the same quarter last year. During the same period last year, the firm posted $1.13 EPS. As a group, equities analysts anticipate that Edison International will post 4.95 EPS for the current fiscal year.

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.