MADDEN SECURITIES Corp Buys 42,475 Shares of Edison International (NYSE:EIX)

MADDEN SECURITIES Corp boosted its stake in Edison International (NYSE:EIX) by 301.8% in the first quarter, HoldingsChannel reports. The firm owned 56,550 shares of the utilities provider’s stock after buying an additional 42,475 shares during the period. Edison International makes up about 1.3% of MADDEN SECURITIES Corp’s portfolio, making the stock its 23rd largest position. MADDEN SECURITIES Corp’s holdings in Edison International were worth $3,332,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Harbor Capital Advisors Inc. increased its stake in Edison International by 8.4% during the 1st quarter. Harbor Capital Advisors Inc. now owns 10,381 shares of the utilities provider’s stock valued at $612,000 after purchasing an additional 803 shares in the last quarter. International Private Wealth Advisors LLC grew its holdings in shares of Edison International by 22.2% during the first quarter. International Private Wealth Advisors LLC now owns 5,546 shares of the utilities provider’s stock valued at $327,000 after buying an additional 1,009 shares during the last quarter. Tounjian Advisory Partners LLC acquired a new position in shares of Edison International during the first quarter valued at about $1,151,000. Pallas Capital Advisors LLC bought a new stake in shares of Edison International during the first quarter worth about $1,816,000. Finally, Farther Finance Advisors LLC raised its holdings in shares of Edison International by 60.2% in the 1st quarter. Farther Finance Advisors LLC now owns 4,409 shares of the utilities provider’s stock worth $259,000 after acquiring an additional 1,657 shares during the last quarter. 88.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on EIX shares. Evercore ISI reissued an “outperform” rating on shares of Edison International in a report on Thursday, May 15th. Mizuho lowered their price objective on Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. The Goldman Sachs Group cut their target price on Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Wolfe Research downgraded Edison International from an “outperform” rating to a “peer perform” rating in a report on Monday. Finally, Wells Fargo & Company lowered their price target on Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $76.89.

Edison International Stock Down 8.1%

Shares of Edison International stock opened at $49.43 on Tuesday. The company has a 50-day simple moving average of $56.01 and a two-hundred day simple moving average of $61.96. The stock has a market capitalization of $19.02 billion, a PE ratio of 14.50, a price-to-earnings-growth ratio of 1.07 and a beta of 0.78. Edison International has a 52-week low of $48.38 and a 52-week high of $88.77. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share 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 analyst estimates of $4.29 billion. During the same quarter in the previous year, the firm earned $1.13 EPS. Edison International’s revenue was down 6.5% on a year-over-year basis. On average, analysts anticipate that Edison International will post 4.95 EPS 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.