Morningstar Investment Management LLC Invests $386,000 in Edison International (NYSE:EIX)

Morningstar Investment Management LLC acquired a new stake in shares of Edison International (NYSE:EIX – Get Rating) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 6,060 shares of the utilities provider’s stock, valued at approximately $386,000.

A number of other institutional investors have also recently bought and sold shares of the company. Invesco Ltd. increased its stake in shares of Edison International by 36.8% in the first quarter. Invesco Ltd. now owns 5,732,894 shares of the utilities provider’s stock worth $401,877,000 after purchasing an additional 1,541,989 shares during the period. Vanguard Group Inc. increased its stake in shares of Edison International by 2.8% in the third quarter. Vanguard Group Inc. now owns 46,704,150 shares of the utilities provider’s stock worth $2,642,521,000 after purchasing an additional 1,250,820 shares during the period. UBS Asset Management Americas Inc. increased its stake in shares of Edison International by 30.6% in the third quarter. UBS Asset Management Americas Inc. now owns 2,491,926 shares of the utilities provider’s stock worth $140,993,000 after purchasing an additional 583,923 shares during the period. State Street Corp increased its stake in Edison International by 2.0% during the third quarter. State Street Corp now owns 29,265,929 shares of the utilities provider’s stock valued at $1,675,871,000 after acquiring an additional 562,352 shares during the period. Finally, ATLAS Infrastructure Partners UK Ltd. increased its stake in Edison International by 32.2% during the fourth quarter. ATLAS Infrastructure Partners UK Ltd. now owns 2,245,489 shares of the utilities provider’s stock valued at $142,858,000 after acquiring an additional 547,242 shares during the period. Institutional investors and hedge funds own 87.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EIX. Mizuho boosted their price target on Edison International from $67.00 to $73.00 and gave the company a “neutral” rating in a research note on Monday, April 10th. JPMorgan Chase & Co. lifted their price objective on Edison International from $72.00 to $74.00 and gave the company a “neutral” rating in a report on Thursday, February 2nd. LADENBURG THALM/SH SH lifted their price objective on Edison International from $66.00 to $67.00 in a report on Wednesday, May 17th. Wells Fargo & Company lifted their price objective on Edison International from $73.00 to $77.00 and gave the company an “equal weight” rating in a report on Monday, April 10th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $82.00 target price on shares of Edison International in a report on Monday, March 6th. Three analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $73.08.

Edison International Trading Down 0.8 %

Shares of EIX traded down $0.53 during trading hours on Friday, reaching $65.13. The stock had a trading volume of 470,377 shares, compared to its average volume of 1,843,388. The company has a quick ratio of 0.80, a current ratio of 0.86 and a debt-to-equity ratio of 1.89. Edison International has a 52 week low of $54.45 and a 52 week high of $74.92. The firm has a 50-day moving average of $71.09 and a 200 day moving average of $67.62. The company has a market cap of $24.94 billion, a P/E ratio of 29.98, a P/E/G ratio of 3.62 and a beta of 0.80.

Edison International (NYSE:EIX – Get Rating) last posted its quarterly earnings data on Tuesday, May 2nd. The utilities provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.05. Edison International had a net margin of 6.12% and a return on equity of 12.48%. The company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4 billion. During the same period in the prior year, the business posted $1.07 EPS. The company’s quarterly revenue was down .1% on a year-over-year basis. On average, sell-side analysts expect that Edison International will post 4.72 earnings per share for the current fiscal year.

Insider Activity at Edison International

In related news, SVP J Andrew Murphy sold 22,471 shares of the firm’s stock in a transaction dated Wednesday, April 5th. The shares were sold at an average price of $72.03, for a total value of $1,618,586.13. Following the completion of the sale, the senior vice president now directly owns 12,989 shares in the company, valued at approximately $935,597.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.03% of the stock is currently owned by company insiders.

Edison International Profile

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Edison International is a renewable energy company, which through its subsidiaries, generates and distributes electric power, and invests in energy services and technologies. The company was founded on July 4, 1886, and is headquartered in Rosemead, CA.