Bank of America Initiates Coverage on Edison International (NYSE:EIX)

Stock analysts at Bank of America assumed coverage on shares of Edison International (NYSE:EIX) in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $95.00 price target on the utilities provider’s stock. Bank of America‘s price target would suggest a potential upside of 11.22% from the stock’s previous close.

EIX has been the topic of several other reports. UBS Group increased their price target on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Morgan Stanley increased their price objective on Edison International from $62.00 to $68.00 and gave the company an “underweight” rating in a research report on Friday, August 23rd. Barclays boosted their target price on Edison International from $80.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 4th. Evercore ISI raised their price target on Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Finally, Mizuho boosted their price objective on Edison International from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, May 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $84.67.

Edison International Trading Up 0.9 %

EIX stock opened at $85.42 on Thursday. The business has a fifty day moving average price of $81.06 and a 200 day moving average price of $74.84. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.03 and a quick ratio of 0.96. Edison International has a fifty-two week low of $58.82 and a fifty-two week high of $88.77. The stock has a market capitalization of $32.99 billion, a price-to-earnings ratio of 37.47 and a beta of 0.91.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. The company had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.12 billion. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company posted $1.01 earnings per share. Analysts expect that Edison International will post 4.96 EPS for the current fiscal year.

Insider Transactions at Edison International

In related news, CEO J Andrew Murphy sold 28,995 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $78.43, for a total value of $2,274,077.85. Following the completion of the sale, the chief executive officer now owns 19,660 shares in the company, valued at approximately $1,541,933.80. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO J Andrew Murphy sold 28,995 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $78.43, for a total value of $2,274,077.85. Following the completion of the transaction, the chief executive officer now directly owns 19,660 shares in the company, valued at approximately $1,541,933.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Natalie K. Schilling sold 2,341 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total value of $187,280.00. Following the sale, the vice president now directly owns 6,338 shares of the company’s stock, valued at $507,040. The disclosure for this sale can be found here. Insiders have sold a total of 89,099 shares of company stock valued at $7,223,342 over the last three months. 1.03% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Edison International

Several institutional investors have recently added to or reduced their stakes in EIX. Jump Financial LLC acquired a new stake in shares of Edison International in the 4th quarter valued at about $1,215,000. Avantax Advisory Services Inc. lifted its stake in Edison International by 73.2% in the 4th quarter. Avantax Advisory Services Inc. now owns 21,114 shares of the utilities provider’s stock valued at $1,509,000 after acquiring an additional 8,922 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Edison International by 4.4% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 389,357 shares of the utilities provider’s stock worth $27,870,000 after acquiring an additional 16,425 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in Edison International by 7.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 114,115 shares of the utilities provider’s stock worth $8,158,000 after acquiring an additional 7,919 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its stake in shares of Edison International by 9.8% during the 4th quarter. Quadrant Capital Group LLC now owns 3,316 shares of the utilities provider’s stock worth $237,000 after acquiring an additional 297 shares in the last quarter. 88.95% of the stock is owned by institutional investors.

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.