Edison International (NYSE:EIX) is Electron Capital Partners LLC’s 10th Largest Position

Electron Capital Partners LLC reduced its holdings in shares of Edison International (NYSE:EIX) by 32.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,306,317 shares of the utilities provider’s stock after selling 632,664 shares during the quarter. Edison International accounts for about 3.9% of Electron Capital Partners LLC’s investment portfolio, making the stock its 10th largest holding. Electron Capital Partners LLC’s holdings in Edison International were worth $93,389,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ausbil Investment Management Ltd boosted its stake in shares of Edison International by 54.7% during the 4th quarter. Ausbil Investment Management Ltd now owns 135,099 shares of the utilities provider’s stock valued at $9,658,000 after buying an additional 47,784 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund boosted its stake in shares of Edison International by 4.2% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 13,655 shares of the utilities provider’s stock valued at $976,000 after buying an additional 551 shares during the last quarter. Jump Financial LLC purchased a new position in shares of Edison International during the 4th quarter valued at approximately $1,215,000. Avantax Advisory Services Inc. boosted its stake in shares of Edison International by 73.2% during the 4th quarter. Avantax Advisory Services Inc. now owns 21,114 shares of the utilities provider’s stock valued at $1,509,000 after buying an additional 8,922 shares during the last quarter. Finally, Principal Securities Inc. purchased a new position in shares of Edison International during the 4th quarter valued at approximately $1,233,000. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Trading Down 0.3 %

EIX traded down $0.24 during trading on Friday, reaching $73.21. The company had a trading volume of 1,336,071 shares, compared to its average volume of 1,721,392. The firm’s 50-day simple moving average is $72.86 and its 200 day simple moving average is $70.14. The company has a market cap of $28.17 billion, a price-to-earnings ratio of 32.11 and a beta of 0.95. Edison International has a 12-month low of $58.82 and a 12-month 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:EIX) last issued its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 12.48% and a net margin of 6.14%. Edison International’s revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the business posted $1.09 EPS. Equities research analysts anticipate that Edison International will post 4.92 earnings per share for the current year.

Insider Buying and Selling

In other Edison International news, CEO J Andrew Murphy sold 58,099 shares of Edison International stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $75.01, for a total transaction of $4,358,005.99. Following the transaction, the chief executive officer now owns 19,660 shares of the company’s stock, valued at approximately $1,474,696.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Edison International news, SVP Caroline Choi sold 10,004 shares of Edison International stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $75.77, for a total transaction of $758,003.08. Following the transaction, the senior vice president now owns 26,918 shares of the company’s stock, valued at approximately $2,039,576.86. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO J Andrew Murphy sold 58,099 shares of Edison International stock in a transaction dated 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 transaction, the chief executive officer now directly owns 19,660 shares in the company, valued at approximately $1,474,696.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 77,897 shares of company stock valued at $5,851,245. 1.03% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

EIX has been the subject of several research analyst reports. Barclays increased their target price on Edison International from $72.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. StockNews.com raised shares of Edison International from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. Argus lifted their price objective on shares of Edison International from $78.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday. Mizuho raised their target price on Edison International from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Finally, TheStreet cut 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 issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $77.70.

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.