Secure Asset Management LLC Acquires Shares of 33,967 Edison International (NYSE:EIX)

Secure Asset Management 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 Form 13F filing with the Securities & Exchange Commission. The firm acquired 33,967 shares of the utilities provider's stock, valued at approximately $2,001,000.

Other institutional investors have also recently bought and sold shares of the company. Sierra Ocean LLC bought a new position in Edison International during the fourth quarter valued at about $33,000. Bellwether Advisors LLC bought a new position in Edison International during the fourth quarter valued at about $34,000. OFI Invest Asset Management bought a new position in Edison International during the fourth quarter valued at about $38,000. SBI Securities Co. Ltd. bought a new position in Edison International during the fourth quarter valued at about $44,000. Finally, Mizuho Bank Ltd. bought a new position in Edison International during the fourth quarter valued at about $50,000. Institutional investors and hedge funds own 88.95% of the company's stock.

Edison International Stock Performance

EIX traded up $0.09 on Friday, hitting $53.73. 2,778,541 shares of the stock traded hands, compared to its average volume of 3,090,293. Edison International has a 52 week low of $49.06 and a 52 week high of $88.77. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $20.67 billion, a PE ratio of 15.76, a P/E/G ratio of 1.07 and a beta of 0.78. The business has a fifty day moving average price of $56.22 and a two-hundred day moving average price of $62.55.

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 (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.16. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm 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 posted $1.13 earnings per share. The company's quarterly revenue was down 6.5% compared to the same quarter last year. On average, research analysts predict that Edison International will post 4.95 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on EIX. Barclays raised their target price on Edison International from $64.00 to $67.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. The Goldman Sachs Group cut their target price on Edison International from $88.00 to $68.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Evercore ISI restated an "outperform" rating on shares of Edison International in a report on Thursday, May 15th. JPMorgan Chase & Co. cut their target price on Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a report on Monday, May 19th. Finally, Wells Fargo & Company dropped their price objective 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.