Sound Income Strategies LLC Sells 163,734 Shares of Edison International (NYSE:EIX)

Sound Income Strategies LLC cut its holdings in shares of Edison International (NYSE:EIX - Free Report) by 83.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,054 shares of the utilities provider's stock after selling 163,734 shares during the quarter. Sound Income Strategies LLC's holdings in Edison International were worth $1,889,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in EIX. Wealth Enhancement Advisory Services LLC boosted its position in Edison International by 135.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 123,851 shares of the utilities provider's stock worth $7,297,000 after purchasing an additional 71,159 shares during the period. NorthCrest Asset Manangement LLC bought a new stake in shares of Edison International during the 1st quarter worth about $438,000. Tobam acquired a new position in Edison International in the 1st quarter valued at about $665,000. Net Worth Advisory Group raised its holdings in Edison International by 5.1% in the 1st quarter. Net Worth Advisory Group now owns 7,322 shares of the utilities provider's stock valued at $431,000 after acquiring an additional 357 shares during the period. Finally, Fifth Third Bancorp raised its holdings in Edison International by 24.1% in the 1st quarter. Fifth Third Bancorp now owns 16,340 shares of the utilities provider's stock valued at $963,000 after acquiring an additional 3,178 shares during the period. Institutional investors own 88.95% of the company's stock.

Edison International Trading Down 4.2%

EIX opened at $48.27 on Monday. The company has a fifty day moving average price of $55.60 and a two-hundred day moving average price of $60.88. Edison International has a 1-year low of $47.86 and a 1-year high of $88.77. The company has a market cap of $18.57 billion, a P/E ratio of 14.15, a price-to-earnings-growth ratio of 1.07 and a beta of 0.78. 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 issued its earnings results on Tuesday, April 29th. The utilities provider reported $1.37 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $4.29 billion. During the same period in the previous year, the company posted $1.13 EPS. The firm's revenue was down 6.5% compared to the same quarter last year. Analysts predict that Edison International will post 4.95 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on EIX shares. Evercore ISI reaffirmed an "outperform" rating on shares of Edison International in a research report on Thursday, May 15th. JPMorgan Chase & Co. reduced their target price on shares of Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a report on Monday, May 19th. Morgan Stanley set a $52.00 price target on shares of Edison International and gave the company an "underweight" rating in a research note on Thursday, May 22nd. Mizuho decreased their price objective on Edison International from $75.00 to $66.00 and set an "outperform" rating for the company in a report on Monday, March 3rd. Finally, 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average 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.

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