Edison International (NYSE:EIX) Price Target Raised to $100.00

Edison International (NYSE:EIX) had its price objective raised by equities researchers at Royal Bank of Canada from $94.00 to $100.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the utilities provider’s stock. Royal Bank of Canada’s price target indicates a potential upside of 15.41% from the stock’s previous close.

EIX has been the topic of a number of other research reports. Argus increased their price objective on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Wells Fargo & Company increased their price objective on Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Guggenheim increased their price objective on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Bank of America began coverage on Edison International in a report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price objective on the stock. Finally, Morgan Stanley increased their price target on Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $86.67.

Edison International Price Performance

EIX stock opened at $86.65 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.96 and a debt-to-equity ratio of 2.04. Edison International has a one year low of $58.82 and a one year high of $88.77. The firm has a market capitalization of $33.46 billion, a PE ratio of 38.00, a P/E/G ratio of 2.01 and a beta of 0.91. The firm has a 50-day moving average of $84.40 and a two-hundred day moving average of $76.58.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The company had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same period in the prior year, the firm earned $1.01 earnings per share. The business’s quarterly revenue was up 9.4% on a year-over-year basis. On average, analysts forecast that Edison International will post 4.97 earnings per share for the current year.

Insider Activity

In other news, CEO J Andrew Murphy sold 32,505 shares of the stock in a transaction that occurred 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 directly owns 19,660 shares of the company’s stock, valued at $1,575,159.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Natalie K. Schilling sold 2,341 shares of the firm’s stock in a transaction 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 completion of the transaction, the vice president now directly owns 6,338 shares of the company’s stock, valued at $507,040. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO J Andrew Murphy sold 32,505 shares of the firm’s 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 transaction, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at $1,575,159.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 89,099 shares of company stock valued at $7,223,342. 1.03% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in EIX. M&G Plc bought a new position in shares of Edison International during the first quarter valued at $85,436,000. Capital International Investors increased its stake in shares of Edison International by 6.4% in the first quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock valued at $940,562,000 after buying an additional 795,950 shares in the last quarter. Wellington Management Group LLP raised its holdings in Edison International by 4.4% during the 4th 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. Capital Research Global Investors increased its stake in shares of Edison International by 1.7% in the 1st quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider’s stock valued at $1,438,984,000 after acquiring an additional 345,189 shares during the last quarter. Finally, Pzena Investment Management LLC increased its stake in shares of Edison International by 2.3% in 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 acquiring an additional 305,459 shares during 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.