State of Tennessee Treasury Department reduced its holdings in Edison International (NYSE:EIX) by 3.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 81,524 shares of the utilities provider’s stock after selling 2,908 shares during the quarter. State of Tennessee Treasury Department’s holdings in Edison International were worth $5,048,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of EIX. Norges Bank acquired a new stake in shares of Edison International in the fourth quarter valued at about $241,133,000. JPMorgan Chase & Co. grew its position in shares of Edison International by 131.4% in the first quarter. JPMorgan Chase & Co. now owns 7,011,057 shares of the utilities provider’s stock valued at $434,123,000 after purchasing an additional 3,981,351 shares during the last quarter. FMR LLC grew its position in shares of Edison International by 97.6% in the fourth quarter. FMR LLC now owns 5,520,041 shares of the utilities provider’s stock valued at $313,373,000 after purchasing an additional 2,726,761 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of Edison International by 5,560.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,016,016 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 1,980,403 shares during the last quarter. Finally, Macquarie Group Ltd. grew its position in shares of Edison International by 11.3% in the fourth quarter. Macquarie Group Ltd. now owns 13,067,013 shares of the utilities provider’s stock valued at $741,814,000 after purchasing an additional 1,324,950 shares during the last quarter. 82.37% of the stock is currently owned by institutional investors.
Several equities research analysts have recently issued reports on the company. Mizuho raised their price target on Edison International from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Monday. UBS Group raised Edison International from a “neutral” rating to a “buy” rating and raised their price target for the company from $67.00 to $72.00 in a research report on Tuesday, June 4th. Zacks Investment Research raised Edison International from a “sell” rating to a “hold” rating and set a $63.00 price target on the stock in a research report on Friday, May 31st. Wells Fargo & Co lowered their price target on Edison International from $75.00 to $70.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 29th. Finally, Morgan Stanley lifted their target price on Edison International from $83.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $70.73.
Edison International (NYSE:EIX) last released its earnings results on Tuesday, April 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.25). Edison International had a positive return on equity of 10.28% and a negative net margin of 1.94%. The firm had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same period last year, the business earned $0.80 earnings per share. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, sell-side analysts predict that Edison International will post 4.72 earnings per share for the current fiscal year.
About Edison International
Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.
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