O Keefe Stevens Advisory Inc. Takes Position in Edison International (NYSE:EIX)

O Keefe Stevens Advisory Inc. purchased a new position in shares of Edison International (NYSE:EIX) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,969 shares of the utilities provider’s stock, valued at approximately $281,000.

A number of other institutional investors have also bought and sold shares of EIX. Able Wealth Management LLC acquired a new position in Edison International in the 4th quarter valued at about $25,000. Bruce G. Allen Investments LLC acquired a new position in Edison International during the fourth quarter worth approximately $27,000. WASHINGTON TRUST Co lifted its stake in Edison International by 117.4% in the fourth quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock valued at $36,000 after buying an additional 270 shares during the last quarter. Northwest Financial Advisors acquired a new stake in shares of Edison International in the fourth quarter valued at approximately $40,000. Finally, GAMMA Investing LLC purchased a new position in shares of Edison International during the fourth quarter worth approximately $48,000. 88.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on EIX shares. Mizuho raised their price objective on shares of Edison International from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. StockNews.com upgraded Edison International from a “sell” rating to a “hold” rating in a research report on Saturday, February 24th. Morgan Stanley increased their price objective on Edison International from $58.00 to $64.00 and gave the stock an “underweight” rating in a research report on Tuesday, May 28th. The Goldman Sachs Group assumed coverage on Edison International in a research note on Wednesday, April 10th. They set a “neutral” rating and a $78.00 price target for the company. Finally, Royal Bank of Canada decreased their price target on Edison International from $81.00 to $80.00 and set an “outperform” rating for the company in a report on Thursday, March 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $77.70.

Insider Buying and Selling at Edison International

In related news, SVP Caroline Choi sold 10,004 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $75.77, for a total value of $758,003.08. Following the transaction, the senior vice president now directly owns 26,918 shares of the company’s stock, valued at approximately $2,039,576.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO J Andrew Murphy sold 9,794 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $75.07, for a total value of $735,235.58. Following the transaction, the chief executive officer now owns 19,660 shares of the company’s stock, valued at approximately $1,475,876.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Caroline Choi sold 10,004 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $75.77, for a total transaction of $758,003.08. Following the sale, the senior vice president now directly owns 26,918 shares of the company’s stock, valued at $2,039,576.86. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 77,897 shares of company stock worth $5,851,245. Corporate insiders own 1.03% of the company’s stock.

Edison International Price Performance

Shares of EIX traded down $0.24 on Friday, reaching $71.64. The stock had a trading volume of 3,311,123 shares, compared to its average volume of 1,701,603. The firm has a market capitalization of $27.56 billion, a PE ratio of 31.42 and a beta of 0.95. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 2.04. Edison International has a twelve month low of $58.82 and a twelve month high of $77.04. The firm has a 50-day moving average of $73.06 and a 200 day moving average of $70.31.

Edison International (NYSE:EIX) last announced its earnings results on Tuesday, April 30th. The utilities provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.01. Edison International had a return on equity of 12.48% and a net margin of 6.14%. The firm had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.16 billion. During the same quarter in the prior year, the firm earned $1.09 EPS. Edison International’s quarterly revenue was up 2.8% on a year-over-year basis. Sell-side analysts expect that Edison International will post 4.92 EPS for the current year.

About Edison International

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.