Edison International (EIX) PT Raised to $92.00
Edison International (NYSE:EIX) had its target price upped by Morgan Stanley from $90.00 to $92.00 in a research note issued on Friday. The firm presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price objective indicates a potential upside of 13.95% from the company’s current price.
A number of other brokerages have also weighed in on EIX. Wolfe Research lowered Edison International from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 11th. UBS AG lowered Edison International from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $82.00 to $80.00 in a research note on Wednesday, May 17th. BidaskClub lowered Edison International from a “hold” rating to a “sell” rating in a research note on Tuesday, June 13th. Zacks Investment Research raised Edison International from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research note on Thursday, July 6th. Finally, Jefferies Group LLC reissued a “hold” rating on shares of Edison International in a research note on Friday, July 14th. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $84.15.
Edison International (NYSE:EIX) traded up 0.71% during midday trading on Friday, hitting $80.74. The company had a trading volume of 1,387,061 shares. Edison International has a 52-week low of $67.44 and a 52-week high of $82.82. The stock’s 50-day moving average price is $79.56 and its 200-day moving average price is $79.54. The stock has a market cap of $26.31 billion, a PE ratio of 19.09 and a beta of 0.24.
Edison International (NYSE:EIX) last posted its earnings results on Thursday, July 27th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.85. Edison International had a return on equity of 10.58% and a net margin of 12.64%. The firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the prior year, the company earned $0.85 EPS. Edison International’s revenue was up 6.8% on a year-over-year basis. On average, equities research analysts expect that Edison International will post $4.23 EPS for the current fiscal year.
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In related news, insider Ronald L. Litzinger sold 224,715 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $80.54, for a total value of $18,098,546.10. Following the completion of the sale, the insider now directly owns 14,121 shares in the company, valued at approximately $1,137,305.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.41% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Guardian Life Insurance Co. of America increased its holdings in Edison International by 0.6% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,256 shares of the utilities provider’s stock valued at $100,000 after purchasing an additional 8 shares in the last quarter. Sun Life Financial INC increased its holdings in Edison International by 16,935.7% in the 2nd quarter. Sun Life Financial INC now owns 2,385 shares of the utilities provider’s stock valued at $186,000 after purchasing an additional 2,371 shares in the last quarter. Parallel Advisors LLC increased its holdings in Edison International by 41.7% in the 1st quarter. Parallel Advisors LLC now owns 2,517 shares of the utilities provider’s stock valued at $198,000 after purchasing an additional 741 shares in the last quarter. Wayne Hummer Investments L.L.C. acquired a new stake in Edison International in the 1st quarter valued at $200,000. Finally, Gofen & Glossberg LLC IL acquired a new stake in Edison International in the 1st quarter valued at $201,000. Hedge funds and other institutional investors own 81.55% of the company’s stock.
About Edison International
Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.
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