NBC Securities Inc. Buys New Holdings in Edison International (NYSE:EIX)

NBC Securities Inc. bought a new stake in Edison International (NYSE:EIX) in the first quarter, Holdings Channel reports. The institutional investor bought 900 shares of the utilities provider’s stock, valued at approximately $53,000.

Other large investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in shares of Edison International by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,416,770 shares of the utilities provider’s stock valued at $192,955,000 after purchasing an additional 76,654 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Edison International during the fourth quarter worth $6,859,000. GAMMA Investing LLC raised its stake in Edison International by 4,157.4% during the first quarter. GAMMA Investing LLC now owns 145,179 shares of the utilities provider’s stock worth $8,554,000 after acquiring an additional 141,769 shares in the last quarter. RWC Asset Management LLP raised its stake in Edison International by 207.1% during the fourth quarter. RWC Asset Management LLP now owns 398,812 shares of the utilities provider’s stock worth $31,841,000 after acquiring an additional 268,951 shares in the last quarter. Finally, Richard Bernstein Advisors LLC acquired a new position in Edison International during the fourth quarter worth $4,507,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on EIX shares. Wells Fargo & Company dropped their price objective 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. JPMorgan Chase & Co. dropped their price objective on Edison International from $75.00 to $71.00 and set a “neutral” rating for the company in a research note on Monday, May 19th. Barclays increased their target price on Edison International from $64.00 to $67.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. Mizuho cut their price target on Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. Finally, UBS Group raised Edison International from a “neutral” rating to a “buy” rating and cut their price target for the company from $69.00 to $65.00 in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Edison International has an average rating of “Moderate Buy” and a consensus price target of $76.89.

Edison International Price Performance

Shares of EIX opened at $49.54 on Thursday. Edison International has a 12-month low of $48.38 and a 12-month high of $88.77. The business has a 50-day simple moving average of $55.75 and a two-hundred day simple moving average of $61.79. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The stock has a market cap of $19.06 billion, a PE ratio of 14.53, a PEG ratio of 1.07 and a beta of 0.78.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.16. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $4.29 billion. During the same quarter in the prior year, the firm earned $1.13 EPS. The business’s revenue for the quarter was down 6.5% compared to the same quarter last year. Analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal 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.