Wealth Enhancement Advisory Services LLC Purchases 71,159 Shares of Edison International (NYSE:EIX)

Wealth Enhancement Advisory Services LLC increased its position in shares of Edison International (NYSE:EIX - Free Report) by 135.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,851 shares of the utilities provider's stock after acquiring an additional 71,159 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Edison International were worth $7,297,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of EIX. Ieq Capital LLC boosted its holdings in shares of Edison International by 28.7% in the 4th quarter. Ieq Capital LLC now owns 18,856 shares of the utilities provider's stock valued at $1,505,000 after acquiring an additional 4,208 shares during the last quarter. Howard Capital Management Inc. boosted its holdings in shares of Edison International by 10.1% in the 4th quarter. Howard Capital Management Inc. now owns 6,060 shares of the utilities provider's stock valued at $484,000 after acquiring an additional 554 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Edison International in the 4th quarter valued at $437,000. Impax Asset Management Group plc boosted its holdings in shares of Edison International by 38.0% in the 4th quarter. Impax Asset Management Group plc now owns 138,703 shares of the utilities provider's stock valued at $11,074,000 after acquiring an additional 38,220 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Edison International by 1.3% in the 4th quarter. Bank of New York Mellon Corp now owns 2,620,122 shares of the utilities provider's stock valued at $209,191,000 after acquiring an additional 32,391 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company's stock.

Wall Street Analysts Forecast Growth

EIX has been the topic of a number of recent analyst reports. Morgan Stanley lowered their price target on shares of Edison International from $52.00 to $51.00 and set an "underweight" rating on the stock in a report on Wednesday, June 18th. Wolfe Research downgraded shares of Edison International from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. The Goldman Sachs Group lowered their price target on shares of 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 reissued an "outperform" rating on shares of Edison International in a report on Thursday, May 15th. Finally, Mizuho decreased their price objective on shares of Edison International from $75.00 to $66.00 and set an "outperform" rating on the stock in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $76.82.

Edison International Price Performance

Shares of EIX stock opened at $51.43 on Wednesday. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.96 and a quick ratio of 0.89. The firm's 50-day moving average is $54.79 and its two-hundred day moving average is $59.34. Edison International has a 12 month low of $47.73 and a 12 month high of $88.77. The company has a market capitalization of $19.79 billion, a PE ratio of 7.29, a price-to-earnings-growth ratio of 1.17 and a beta of 0.78.

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, topping analysts' consensus estimates of $1.21 by $0.16. Edison International had a net margin of 16.84% and a return on equity of 13.21%. The company had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same period in the previous year, the firm earned $1.13 earnings per share. Edison International's quarterly revenue was down 6.5% compared to the same quarter last year. Analysts predict that Edison International will post 4.95 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.