Vontobel Holding Ltd. lifted its stake in Edison International (NYSE:EIX) by 51.6% in the first quarter, Holdings Channel.com reports. The fund owned 11,772 shares of the utilities provider’s stock after purchasing an additional 4,008 shares during the period. Vontobel Holding Ltd.’s holdings in Edison International were worth $690,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently bought and sold shares of the company. Sittner & Nelson LLC bought a new position in shares of Edison International in the fourth quarter worth $25,000. NuWave Investment Management LLC bought a new position in shares of Edison International in the first quarter worth $25,000. SOA Wealth Advisors LLC. boosted its stake in Edison International by 84.5% during the first quarter. SOA Wealth Advisors LLC. now owns 428 shares of the utilities provider’s stock valued at $25,000 after buying an additional 196 shares during the period. Safeguard Investment Advisory Group LLC bought a new stake in Edison International during the fourth quarter valued at $30,000. Finally, Camden Capital LLC bought a new stake in Edison International during the first quarter valued at $37,000. 87.08% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently issued reports on EIX shares. Morgan Stanley dropped their price objective on Edison International from $73.00 to $72.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 18th. Barclays lifted their price objective on Edison International from $64.00 to $65.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 25th. Wells Fargo & Company lifted their price objective on Edison International from $66.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, April 28th. TheStreet lowered Edison International from a “b-” rating to a “c” rating in a research note on Tuesday, April 27th. Finally, KeyCorp dropped their price objective on Edison International from $70.00 to $66.00 and set an “overweight” rating for the company in a research note on Wednesday, April 21st. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $67.29.
Edison International (NYSE:EIX) last released its quarterly earnings data on Tuesday, April 27th. The utilities provider reported $0.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.03. The firm had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.92 billion. Edison International had a return on equity of 11.47% and a net margin of 6.68%. During the same quarter in the previous year, the business earned $0.63 earnings per share. Analysts expect that Edison International will post 4.5 earnings per share for the current year.
About Edison International
Edison International, through its subsidiaries, generates and distributes electric power. As of March 03, 2021, it delivered electricity to 15 million residential, commercial, industrial, public authorities, agricultural, and other customers across Southern, Central, and Coastal California. Edison International also provides energy solutions to commercial and industrial users.
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