Edison International (NYSE:EIX) Price Target Cut to $61.00 by Analysts at Morgan Stanley

Edison International (NYSE:EIX) had its target price decreased by Morgan Stanley from $64.00 to $61.00 in a research report released on Monday, Benzinga reports. Morgan Stanley currently has an underweight rating on the utilities provider’s stock.

Several other research firms have also commented on EIX. Wells Fargo & Company raised shares of Edison International from an equal weight rating to an overweight rating and raised their price objective for the company from $72.00 to $86.00 in a research note on Tuesday, May 14th. The Goldman Sachs Group initiated coverage on shares of Edison International in a research note on Wednesday, April 10th. They issued a neutral rating and a $78.00 price target for the company. Barclays lifted their price target on shares of Edison International from $72.00 to $75.00 and gave the stock an equal weight rating in a research note on Thursday, May 2nd. 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 report on Friday, May 17th. Finally, Argus raised their price objective on shares of Edison International from $78.00 to $82.00 and gave the stock a buy rating in a report on Wednesday, June 12th. One equities 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. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $77.40.

Edison International Price Performance

Edison International stock opened at $72.76 on Monday. Edison International has a 12-month low of $58.82 and a 12-month high of $77.04. The stock has a market cap of $27.99 billion, a P/E ratio of 31.91 and a beta of 0.95. The company has a 50-day moving average price of $73.16 and a 200 day moving average price of $70.37. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 2.04.

Edison International (NYSE:EIX) last released its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.01. Edison International had a net margin of 6.14% and a return on equity of 12.48%. The firm had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.16 billion. During the same period last year, the business earned $1.09 earnings per share. Edison International’s revenue was up 2.8% compared to the same quarter last year. Sell-side analysts anticipate that Edison International will post 4.92 earnings per share for the current year.

Insider Activity

In other news, CEO J Andrew Murphy sold 58,099 shares of Edison International stock in a transaction on Friday, May 10th. The shares were sold at an average price of $75.01, for a total value of $4,358,005.99. Following the transaction, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at approximately $1,474,696.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Edison International news, CEO J Andrew Murphy sold 58,099 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $75.01, for a total value of $4,358,005.99. Following the transaction, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at approximately $1,474,696.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Caroline Choi sold 10,004 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $75.77, for a total transaction of $758,003.08. Following the completion of the transaction, the senior vice president now directly owns 26,918 shares in the company, valued at $2,039,576.86. The disclosure for this sale can be found here. Insiders have sold 77,897 shares of company stock valued at $5,851,245 in the last ninety days. 1.03% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Edison International

Several institutional investors have recently made changes to their positions in EIX. LPL Financial LLC boosted its position in shares of Edison International by 10.7% during the 3rd quarter. LPL Financial LLC now owns 206,482 shares of the utilities provider’s stock worth $13,068,000 after purchasing an additional 20,002 shares in the last quarter. Mariner LLC boosted its position in shares of Edison International by 3.2% during the 3rd quarter. Mariner LLC now owns 34,447 shares of the utilities provider’s stock worth $2,180,000 after purchasing an additional 1,069 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Edison International by 1.9% during the 3rd quarter. Stifel Financial Corp now owns 338,566 shares of the utilities provider’s stock worth $21,428,000 after purchasing an additional 6,361 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Edison International by 4.2% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 10,718 shares of the utilities provider’s stock worth $678,000 after purchasing an additional 432 shares in the last quarter. Finally, Covestor Ltd boosted its position in shares of Edison International by 153.7% during the 3rd quarter. Covestor Ltd now owns 1,040 shares of the utilities provider’s stock worth $66,000 after purchasing an additional 630 shares in the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Company Profile

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.