Edison International (NYSE:EIX) PT Raised to $68.00

Edison International (NYSE:EIX) had its price target upped by equities researchers at Morgan Stanley from $62.00 to $68.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “underweight” rating on the utilities provider’s stock. Morgan Stanley’s target price would suggest a potential downside of 19.77% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Guggenheim increased their target price on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Wells Fargo & Company increased their price objective on Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Evercore ISI lifted their price target on shares of Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Barclays raised their price objective on Edison International from $75.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Finally, UBS Group lowered Edison International from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $83.00 to $82.00 in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $80.73.

Edison International Stock Performance

EIX stock opened at $84.76 on Friday. The business has a 50 day moving average of $76.80 and a 200-day moving average of $72.82. The firm has a market cap of $32.61 billion, a PE ratio of 37.18 and a beta of 0.91. Edison International has a 12-month low of $58.82 and a 12-month high of $85.00. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 2.04.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.18. The firm 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 business’s revenue was up 9.4% compared to the same quarter last year. During the same period last year, the firm posted $1.01 EPS. As a group, sell-side analysts expect that Edison International will post 4.94 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Caroline Choi sold 10,004 shares of Edison International stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $75.77, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, SVP Caroline Choi sold 10,004 shares of Edison International 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 transaction, the senior vice president now owns 26,918 shares in the company, valued at approximately $2,039,576.86. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO J Andrew Murphy sold 32,505 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $80.12, for a total value of $2,604,300.60. Following the completion of the sale, the chief executive officer now owns 19,660 shares of the company’s stock, valued at approximately $1,575,159.20. The disclosure for this sale can be found here. Insiders sold a total of 73,845 shares of company stock worth $5,823,662 over the last quarter. 1.03% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital Research Global Investors boosted its position in shares of Edison International by 1.7% during the first quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider’s stock worth $1,438,984,000 after acquiring an additional 345,189 shares during the last quarter. Pzena Investment Management LLC boosted its holdings in shares of Edison International by 2.3% during the 1st quarter. Pzena Investment Management LLC now owns 13,605,080 shares of the utilities provider’s stock valued at $962,287,000 after purchasing an additional 305,459 shares during the last quarter. Capital International Investors grew its position in shares of Edison International by 6.4% during the first quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock valued at $940,562,000 after purchasing an additional 795,950 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Edison International by 4.4% in the fourth quarter. Wellington Management Group LLP now owns 10,276,016 shares of the utilities provider’s stock worth $734,632,000 after purchasing an additional 433,845 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Edison International by 4.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,261,803 shares of the utilities provider’s stock worth $376,166,000 after buying an additional 202,541 shares in the last quarter. 88.95% of the stock is currently 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.