Point View Wealth Management Inc. Makes New $222,000 Investment in Edison International (NYSE:EIX)
Point View Wealth Management Inc. acquired a new position in Edison International (NYSE:EIX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,941 shares of the utilities provider’s stock, valued at approximately $222,000.
Several other hedge funds have also made changes to their positions in the company. Atticus Wealth Management LLC acquired a new position in Edison International during the 4th quarter worth about $53,000. Resources Management Corp CT ADV acquired a new stake in Edison International in the 3rd quarter valued at about $57,000. Quest Capital Management Inc. ADV bought a new position in shares of Edison International in the third quarter worth about $59,000. Baystate Wealth Management LLC raised its stake in shares of Edison International by 1,444.2% in the fourth quarter. Baystate Wealth Management LLC now owns 803 shares of the utilities provider’s stock worth $61,000 after acquiring an additional 751 shares during the last quarter. Finally, Gradient Investments LLC raised its stake in shares of Edison International by 60.9% in the fourth quarter. Gradient Investments LLC now owns 1,057 shares of the utilities provider’s stock worth $80,000 after acquiring an additional 400 shares during the last quarter. Institutional investors own 87.50% of the company’s stock.
Shares of NYSE EIX traded down $0.23 during mid-day trading on Friday, hitting $77.14. The company’s stock had a trading volume of 1,312,889 shares, compared to its average volume of 1,653,157. The stock has a market cap of $27.85 billion, a price-to-earnings ratio of -77.92, a price-to-earnings-growth ratio of 3.18 and a beta of 0.13. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.78 and a quick ratio of 0.72. Edison International has a one year low of $57.63 and a one year high of $78.93. The company’s fifty day simple moving average is $76.29 and its 200-day simple moving average is $72.72.
Several research firms have recently commented on EIX. TheStreet cut shares of Edison International from a “b-” rating to a “c” rating in a research note on Tuesday, November 26th. Bank of America set a $73.00 price objective on shares of Edison International and gave the stock a “hold” rating in a research report on Friday, November 1st. Zacks Investment Research cut shares of Edison International from a “buy” rating to a “hold” rating and set a $78.00 price objective for the company. in a research report on Tuesday, December 17th. UBS Group upped their price objective on Edison International from $83.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Finally, Citigroup increased their price objective on Edison International from $81.00 to $93.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $79.90.
Edison International Profile
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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