Sivia Capital Partners LLC grew its stake in shares of Edison International (NYSE:EIX – Free Report) by 230.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 34,952 shares of the utilities provider’s stock after acquiring an additional 24,363 shares during the period. Sivia Capital Partners LLC’s holdings in Edison International were worth $2,098,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ransom Advisory Ltd increased its position in shares of Edison International by 74.9% during the fourth quarter. Ransom Advisory Ltd now owns 605 shares of the utilities provider’s stock valued at $36,000 after buying an additional 259 shares during the period. Ameriflex Group Inc. increased its holdings in shares of Edison International by 100.0% in the third quarter. Ameriflex Group Inc. now owns 742 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 371 shares during the period. Quest 10 Wealth Builders Inc. increased its holdings in shares of Edison International by 866.7% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 783 shares of the utilities provider’s stock worth $47,000 after purchasing an additional 702 shares during the period. MUFG Securities EMEA plc purchased a new stake in shares of Edison International in the second quarter worth $59,000. Finally, SBI Securities Co. Ltd. boosted its stake in Edison International by 90.0% during the third quarter. SBI Securities Co. Ltd. now owns 1,214 shares of the utilities provider’s stock valued at $67,000 after buying an additional 575 shares during the period. 88.95% of the stock is currently owned by institutional investors.
Edison International Stock Performance
NYSE:EIX opened at $71.01 on Thursday. The business’s 50-day moving average price is $70.93 and its two-hundred day moving average price is $66.34. Edison International has a twelve month low of $47.73 and a twelve month high of $76.21. The stock has a market cap of $27.32 billion, a P/E ratio of 7.71, a PEG ratio of 1.23 and a beta of 0.67. The company has a quick ratio of 0.68, a current ratio of 0.74 and a debt-to-equity ratio of 1.98.
Analysts Set New Price Targets
Several research firms recently issued reports on EIX. Truist Financial dropped their price objective on Edison International from $82.00 to $79.00 and set a “hold” rating for the company in a research note on Monday, May 18th. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $62.00 price target on shares of Edison International in a report on Tuesday, April 21st. Weiss Ratings raised Edison International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, April 15th. Seaport Research Partners cut Edison International from a “buy” rating to a “neutral” rating in a report on Monday, April 20th. Finally, TD Cowen raised their price target on Edison International from $71.00 to $83.00 and gave the company a “buy” rating in a report on Friday, February 20th. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $72.64.
Insider Activity at Edison International
In other news, Director Peter J. Taylor sold 500 shares of the stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $75.30, for a total transaction of $37,650.00. Following the transaction, the director directly owned 34,212 shares in the company, valued at approximately $2,576,163.60. This represents a 1.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.20% of the company’s stock.
Edison International Company Profile
Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.
The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.
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