Edison International (NYSE:EIX) Shares Sold by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp trimmed its holdings in Edison International (NYSE:EIXFree Report) by 3.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,521 shares of the utilities provider’s stock after selling 423 shares during the period. Peapack Gladstone Financial Corp’s holdings in Edison International were worth $967,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of EIX. Bruce G. Allen Investments LLC purchased a new stake in shares of Edison International in the fourth quarter valued at about $27,000. WASHINGTON TRUST Co grew its holdings in shares of Edison International by 117.4% in the fourth quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 270 shares during the period. Northwest Financial Advisors purchased a new stake in shares of Edison International in the fourth quarter valued at about $40,000. GAMMA Investing LLC purchased a new stake in shares of Edison International in the fourth quarter valued at about $48,000. Finally, CVA Family Office LLC purchased a new stake in shares of Edison International in the fourth quarter valued at about $53,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on EIX. Royal Bank of Canada dropped their price objective on shares of Edison International from $81.00 to $80.00 and set an “outperform” rating for the company in a report on Thursday, March 7th. Barclays increased their target price on shares of Edison International from $72.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. The Goldman Sachs Group initiated coverage on shares of Edison International in a research note on Wednesday, April 10th. They set a “neutral” rating and a $78.00 target price for the company. Mizuho increased their target price on shares of Edison International from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Finally, TheStreet lowered shares of Edison International from a “b” rating to a “c+” rating in a research note on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Edison International currently has an average rating of “Hold” and a consensus price target of $77.22.

Read Our Latest Stock Analysis on EIX

Edison International Stock Down 1.5 %

Shares of EIX opened at $75.41 on Thursday. The company’s 50-day simple moving average is $72.39 and its 200-day simple moving average is $69.76. The stock has a market capitalization of $29.01 billion, a PE ratio of 33.07 and a beta of 0.95. Edison International has a 1 year low of $58.82 and a 1 year high of $77.04. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.93 and a current ratio of 1.00.

Edison International (NYSE:EIXGet Free Report) last issued its earnings results on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.01. The firm had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.16 billion. Edison International had a net margin of 6.14% and a return on equity of 12.48%. The firm’s revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.09 earnings per share. Analysts forecast that Edison International will post 4.92 earnings per share for the current fiscal year.

Insider Activity at Edison International

In related news, CEO J Andrew Murphy sold 58,099 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $75.01, for a total value of $4,358,005.99. Following the sale, the chief executive officer now owns 19,660 shares of the company’s stock, valued at $1,474,696.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is owned by corporate insiders.

Edison International Profile

(Free Report)

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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Institutional Ownership by Quarter for Edison International (NYSE:EIX)

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