Summit Global Investments Acquires 7,982 Shares of Edison International (NYSE:EIX)

Summit Global Investments raised its holdings in shares of Edison International (NYSE:EIX - Free Report) by 154.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,166 shares of the utilities provider's stock after purchasing an additional 7,982 shares during the period. Summit Global Investments' holdings in Edison International were worth $776,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Crews Bank & Trust acquired a new stake in shares of Edison International during the 4th quarter worth approximately $25,000. Sierra Ocean LLC acquired a new position in Edison International in the fourth quarter worth approximately $33,000. Bellwether Advisors LLC acquired a new stake in Edison International during the 4th quarter valued at $34,000. OFI Invest Asset Management acquired a new stake in shares of Edison International in the 4th quarter valued at $38,000. Finally, SBI Securities Co. Ltd. acquired a new position in Edison International during the 4th quarter worth $44,000. 88.95% of the stock is owned by institutional investors and hedge funds.

Edison International Price Performance

Shares of NYSE:EIX traded down $0.20 during midday trading on Wednesday, reaching $55.80. The company's stock had a trading volume of 670,807 shares, compared to its average volume of 3,049,562. Edison International has a fifty-two week low of $49.06 and a fifty-two week high of $88.77. The company has a market capitalization of $21.47 billion, a P/E ratio of 16.36, a P/E/G ratio of 1.07 and a beta of 0.77. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The business's fifty day simple moving average is $56.51 and its 200-day simple moving average is $63.04.

Edison International (NYSE:EIX - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.37 EPS for the quarter, topping analysts' consensus estimates of $1.21 by $0.16. The firm had revenue of $3.81 billion during the quarter, compared to analyst estimates of $4.29 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company's revenue was down 6.5% on a year-over-year basis. During the same period last year, the company earned $1.13 earnings per share. As a group, equities research analysts expect that Edison International will post 4.95 EPS for the current fiscal year.

Analyst Ratings Changes

EIX has been the subject of several recent research reports. Evercore ISI reaffirmed an "outperform" rating on shares of Edison International in a report on Thursday, May 15th. Mizuho lowered their price objective 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. Morgan Stanley set a $52.00 price target on Edison International and gave the company an "underweight" rating in a research report on Thursday, May 22nd. Barclays lifted their price objective on Edison International from $64.00 to $67.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Finally, UBS Group upgraded shares of Edison International from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $69.00 to $65.00 in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Edison International currently has an average 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.