Two Sigma Investments LP Acquires 63,630 Shares of Edison International (NYSE:EIX)

Two Sigma Investments LP grew its position in Edison International (NYSE:EIX - Free Report) by 263.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 87,753 shares of the utilities provider's stock after acquiring an additional 63,630 shares during the period. Two Sigma Investments LP's holdings in Edison International were worth $7,006,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Swedbank AB increased its stake in shares of Edison International by 3.3% in the fourth quarter. Swedbank AB now owns 523,433 shares of the utilities provider's stock valued at $41,791,000 after buying an additional 16,614 shares during the period. KBC Group NV raised its stake in Edison International by 23.7% during the 4th quarter. KBC Group NV now owns 61,342 shares of the utilities provider's stock worth $4,898,000 after buying an additional 11,764 shares during the period. abrdn plc grew its position in Edison International by 19.5% in the 4th quarter. abrdn plc now owns 1,695,182 shares of the utilities provider's stock valued at $134,335,000 after purchasing an additional 276,656 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Edison International by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,416,770 shares of the utilities provider's stock worth $192,955,000 after acquiring an additional 76,654 shares in the last quarter. Finally, Mediolanum International Funds Ltd bought a new stake in Edison International during the 4th quarter worth approximately $583,000. 88.95% of the stock is owned by institutional investors and hedge funds.

Edison International Stock Down 1.0%

EIX traded down $0.55 during midday trading on Friday, reaching $55.33. The company's stock had a trading volume of 574,006 shares, compared to its average volume of 3,036,056. Edison International has a 1 year low of $49.06 and a 1 year high of $88.77. The stock's 50-day moving average is $56.61 and its 200-day moving average is $63.74. The firm has a market capitalization of $21.29 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 1.07 and a beta of 0.77. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX - Get Free Report) last posted 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. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the prior year, the business posted $1.13 EPS. The firm's quarterly revenue was down 6.5% compared to the same quarter last year. As a group, research analysts expect that Edison International will post 4.95 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on EIX shares. Evercore ISI reissued an "outperform" rating on shares of Edison International in a research report on Thursday, May 15th. Morgan Stanley set a $52.00 price objective on Edison International and gave the stock an "underweight" rating in a report on Thursday, May 22nd. Wells Fargo & Company reduced their price target on shares of Edison International from $94.00 to $75.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. UBS Group raised shares of Edison International from a "neutral" rating to a "buy" rating and lowered their target price for the company from $69.00 to $65.00 in a research note on Tuesday, February 18th. Finally, JPMorgan Chase & Co. decreased their price objective on Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $76.89.

Edison International Company 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.