Edison International (NYSE:EIX) PT Raised to $72.00

Edison International (NYSE:EIX) had its price objective upped by equities research analysts at Morgan Stanley from $68.00 to $72.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “underweight” rating on the utilities provider’s stock. Morgan Stanley’s price target suggests a potential downside of 16.30% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Barclays raised their target price on shares of Edison International from $80.00 to $91.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 4th. Argus upped their price target on shares of Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Evercore ISI upped 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. Wells Fargo & Company upped their price target on shares of Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, Bank of America initiated coverage on shares of Edison International in a report on Thursday, September 12th. They set a “buy” rating and a $95.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Edison International has an average rating of “Hold” and a consensus price target of $86.17.

Edison International Trading Up 0.1 %

NYSE EIX traded up $0.08 during trading hours on Wednesday, hitting $86.02. 312,150 shares of the company were exchanged, compared to its average volume of 2,005,197. Edison International has a 52 week low of $58.82 and a 52 week high of $88.77. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 2.04. The stock has a 50-day moving average price of $82.82 and a 200 day moving average price of $75.81. The stock has a market cap of $33.22 billion, a PE ratio of 37.73, a price-to-earnings-growth ratio of 1.99 and a beta of 0.91.

Edison International (NYSE:EIX) last released its earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.18. The firm had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.12 billion. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.01 EPS. Analysts forecast that Edison International will post 4.97 earnings per share for the current fiscal year.

Insider Transactions at Edison International

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

Institutional Investors Weigh In On Edison International

Hedge funds and other institutional investors have recently bought and sold shares of the company. Able Wealth Management LLC purchased a new stake in Edison International during the fourth quarter valued at approximately $25,000. Ashton Thomas Private Wealth LLC purchased a new stake in Edison International during the second quarter valued at approximately $27,000. Global Trust Asset Management LLC purchased a new stake in Edison International during the first quarter valued at approximately $28,000. Country Trust Bank purchased a new stake in Edison International during the second quarter valued at approximately $29,000. Finally, Farmers & Merchants Investments Inc. lifted its position in Edison International by 53.8% during the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

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.