Tounjian Advisory Partners LLC Makes New Investment in Edison International (NYSE:EIX)

Tounjian Advisory Partners LLC purchased a new stake in Edison International (NYSE:EIX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 19,536 shares of the utilities provider's stock, valued at approximately $1,151,000.

Several other hedge funds have also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Edison International by 46.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,399 shares of the utilities provider's stock worth $2,984,000 after purchasing an additional 11,840 shares in the last quarter. Choreo LLC raised its stake in Edison International by 14.0% in the fourth quarter. Choreo LLC now owns 6,800 shares of the utilities provider's stock valued at $542,000 after buying an additional 837 shares during the last quarter. Robertson Stephens Wealth Management LLC purchased a new stake in shares of Edison International during the fourth quarter worth about $243,000. Bleakley Financial Group LLC grew its stake in shares of Edison International by 2.9% during the fourth quarter. Bleakley Financial Group LLC now owns 6,297 shares of the utilities provider's stock worth $503,000 after acquiring an additional 176 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Edison International by 14.4% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 45,548 shares of the utilities provider's stock worth $3,637,000 after purchasing an additional 5,726 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company's stock.

Edison International Price Performance

Edison International stock opened at $53.73 on Monday. 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 one year low of $49.06 and a one year high of $88.77. The company has a market cap of $20.67 billion, a P/E ratio of 15.76, a price-to-earnings-growth ratio of 1.07 and a beta of 0.78. The business has a fifty day moving average of $56.22 and a two-hundred day moving average of $62.22.

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, beating 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 firm had revenue of $3.81 billion during the quarter, compared to analysts' expectations of $4.29 billion. During the same quarter last year, the business earned $1.13 earnings per share. The business's revenue for the quarter was down 6.5% compared to the same quarter last year. As a group, analysts predict that Edison International will post 4.95 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on EIX. Evercore ISI reissued an "outperform" rating on shares of Edison International in a research report on Thursday, May 15th. Wells Fargo & Company cut their price objective on shares of Edison International from $94.00 to $75.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. JPMorgan Chase & Co. decreased their target price on shares of Edison International from $75.00 to $71.00 and set a "neutral" rating for the company in a research report on Monday, May 19th. Morgan Stanley set a $52.00 price objective on Edison International and gave the company an "underweight" rating in a research note on Thursday, May 22nd. Finally, Wolfe Research downgraded Edison International from an "outperform" rating to a "peer perform" rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $76.89.

Edison International 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.

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