Fifth Third Bancorp Has $963,000 Stock Position in Edison International (NYSE:EIX)

Fifth Third Bancorp lifted its position in shares of Edison International (NYSE:EIX) by 24.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,340 shares of the utilities provider’s stock after acquiring an additional 3,178 shares during the quarter. Fifth Third Bancorp’s holdings in Edison International were worth $963,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Whittier Trust Co. grew its holdings in shares of Edison International by 4.9% during the fourth quarter. Whittier Trust Co. now owns 4,295 shares of the utilities provider’s stock worth $343,000 after purchasing an additional 200 shares during the last quarter. Vontobel Holding Ltd. grew its holdings in Edison International by 5.0% during the 4th quarter. Vontobel Holding Ltd. now owns 4,579 shares of the utilities provider’s stock worth $366,000 after acquiring an additional 216 shares during the last quarter. FSB Premier Wealth Management Inc. grew its holdings in Edison International by 5.2% during the 4th quarter. FSB Premier Wealth Management Inc. now owns 4,403 shares of the utilities provider’s stock worth $352,000 after acquiring an additional 217 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its position in Edison International by 0.4% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 54,673 shares of the utilities provider’s stock valued at $4,365,000 after acquiring an additional 218 shares during the period. Finally, KWB Wealth raised its stake in shares of Edison International by 1.5% during the first quarter. KWB Wealth now owns 14,751 shares of the utilities provider’s stock valued at $869,000 after acquiring an additional 218 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on EIX shares. Barclays boosted their price objective on shares of Edison International from $64.00 to $67.00 and gave the stock an “overweight” rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. decreased their target price on shares of Edison International from $75.00 to $71.00 and set a “neutral” rating for the company in a research report on Monday, May 19th. Wells Fargo & Company dropped their price target on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. UBS Group raised shares of 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 research report on Tuesday, February 18th. Finally, Morgan Stanley set a $52.00 price objective on Edison International and gave the stock an “underweight” rating in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $76.89.

Edison International Trading Down 0.1%

NYSE EIX opened at $48.29 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. Edison International has a 52 week low of $47.86 and a 52 week high of $88.77. The business has a 50 day moving average price of $55.52 and a 200-day moving average price of $60.61. The company has a market cap of $18.58 billion, a price-to-earnings ratio of 14.16, a P/E/G ratio of 1.07 and a beta of 0.78.

Edison International (NYSE:EIX) 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. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm 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 company posted $1.13 earnings per share. The business’s revenue was down 6.5% on a year-over-year basis. As a group, equities analysts expect that Edison International will post 4.95 earnings per share for the current fiscal year.

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.