Nissay Asset Management Corp Japan ADV cut its stake in shares of Edison International (NYSE:EIX) by 2.2% during the 1st quarter, Holdings Channel reports. The institutional investor owned 37,736 shares of the utilities provider’s stock after selling 837 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Edison International were worth $2,211,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in EIX. Pzena Investment Management LLC lifted its holdings in Edison International by 65.3% during the 1st quarter. Pzena Investment Management LLC now owns 13,287,086 shares of the utilities provider’s stock worth $778,623,000 after buying an additional 5,248,524 shares during the period. Norges Bank acquired a new position in shares of Edison International in the 4th quarter valued at about $285,054,000. BlackRock Inc. lifted its stake in shares of Edison International by 9.2% in the 1st quarter. BlackRock Inc. now owns 37,412,921 shares of the utilities provider’s stock valued at $2,192,396,000 after purchasing an additional 3,140,052 shares during the period. Attestor Ltd acquired a new position in shares of Edison International in the 1st quarter valued at about $124,232,000. Finally, FMR LLC lifted its stake in shares of Edison International by 9.4% in the 4th quarter. FMR LLC now owns 15,004,746 shares of the utilities provider’s stock valued at $942,598,000 after purchasing an additional 1,289,496 shares during the period. 87.08% of the stock is currently owned by hedge funds and other institutional investors.
EIX has been the topic of a number of recent analyst reports. TheStreet downgraded Edison International from a “b-” rating to a “c” rating in a research note on Tuesday, April 27th. Barclays boosted their target price on Edison International from $64.00 to $65.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 25th. Wells Fargo & Company boosted their target price on Edison International from $66.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, April 28th. Morgan Stanley decreased their target price on Edison International from $73.00 to $72.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 18th. Finally, KeyCorp decreased their target price on Edison International from $70.00 to $66.00 and set an “overweight” rating for the company in a research report on Wednesday, April 21st. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Edison International currently has an average rating of “Buy” and a consensus price target of $67.29.
Edison International (NYSE:EIX) last released its earnings results on Tuesday, April 27th. The utilities provider reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.03. The company had revenue of $2.96 billion during the quarter, compared to analyst estimates of $2.92 billion. Edison International had a return on equity of 11.47% and a net margin of 6.68%. During the same period in the prior year, the company posted $0.63 earnings per share. On average, analysts expect that Edison International will post 4.5 earnings per share for the current year.
Edison International Company Profile
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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