Woodline Partners LP Takes $1.86 Million Position in Edison International (NYSE:EIX)

Woodline Partners LP purchased a new position in shares of Edison International (NYSE:EIX - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 23,250 shares of the utilities provider's stock, valued at approximately $1,856,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Swedbank AB increased its position in Edison International by 3.3% in the 4th quarter. Swedbank AB now owns 523,433 shares of the utilities provider's stock valued at $41,791,000 after acquiring an additional 16,614 shares during the period. KBC Group NV increased its position in Edison International by 23.7% in the 4th quarter. KBC Group NV now owns 61,342 shares of the utilities provider's stock valued at $4,898,000 after acquiring an additional 11,764 shares during the period. abrdn plc increased 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 acquiring an additional 276,656 shares during the period. Charles Schwab Investment Management Inc. increased its position in Edison International by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,416,770 shares of the utilities provider's stock valued at $192,955,000 after acquiring an additional 76,654 shares during the period. Finally, Mediolanum International Funds Ltd acquired a new stake in Edison International in the 4th quarter valued at approximately $583,000. 88.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on EIX. JPMorgan Chase & Co. lowered their target price on Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a research report on Monday, May 19th. The Goldman Sachs Group decreased their price target on Edison International from $88.00 to $68.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Morgan Stanley set a $52.00 price target on Edison International and gave the company an "underweight" rating in a research note on Thursday, May 22nd. UBS Group raised Edison International from a "neutral" rating to a "buy" rating and decreased their price target for the company from $69.00 to $65.00 in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company decreased their price target on Edison International from $94.00 to $75.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $76.89.

Edison International Price Performance

Shares of EIX traded down $0.59 during trading hours on Friday, hitting $55.29. 730,225 shares of the company were exchanged, compared to its average volume of 3,036,480. The company has a market capitalization of $21.27 billion, a PE ratio of 16.19, a PEG 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 firm has a fifty day simple moving average of $56.61 and a 200-day simple moving average of $63.74. Edison International has a one year low of $49.06 and a one year high of $88.77.

Edison International (NYSE:EIX - Get Free Report) last released its quarterly earnings data 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. The business 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% compared to the same quarter last year. During the same period last year, the company posted $1.13 EPS. As a group, sell-side 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.