Edison International (EIX) Given “Neutral” Rating at Citigroup

Edison International (NYSE:EIX)‘s stock had its “neutral” rating restated by investment analysts at Citigroup in a research note issued on Monday, The Fly reports. They presently have a $66.00 price target on the utilities provider’s stock. Citigroup’s target price would suggest a potential upside of 6.25% from the company’s previous close.

EIX has been the topic of a number of other research reports. Edward Jones downgraded Edison International from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. Morgan Stanley reduced their target price on Edison International from $96.00 to $82.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 13th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $74.00 target price on shares of Edison International in a report on Friday, December 22nd. Mizuho reaffirmed a “buy” rating and issued a $86.00 target price on shares of Edison International in a report on Monday, October 9th. Finally, JPMorgan Chase & Co. started coverage on Edison International in a report on Friday, January 12th. They issued a “neutral” rating and a $67.00 target price on the stock. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $79.50.

Shares of Edison International (EIX) opened at $62.12 on Monday. The firm has a market capitalization of $20,239.39, a price-to-earnings ratio of 14.02, a price-to-earnings-growth ratio of 2.29 and a beta of 0.24. Edison International has a twelve month low of $60.64 and a twelve month high of $83.38. The company has a quick ratio of 0.47, a current ratio of 0.51 and a debt-to-equity ratio of 0.80.

Edison International (NYSE:EIX) last issued its earnings results on Monday, October 30th. The utilities provider reported $1.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.10. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.53 billion. Edison International had a return on equity of 10.84% and a net margin of 13.18%. The company’s revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.29 EPS. equities research analysts expect that Edison International will post 4.32 earnings per share for the current year.

In related news, insider Ronald L. Litzinger sold 224,718 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $82.00, for a total transaction of $18,426,876.00. Following the sale, the insider now owns 14,121 shares of the company’s stock, valued at approximately $1,157,922. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.41% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Veritable L.P. raised its position in Edison International by 0.8% during the 2nd quarter. Veritable L.P. now owns 10,853 shares of the utilities provider’s stock worth $849,000 after purchasing an additional 84 shares during the last quarter. Ecofin Ltd. raised its position in Edison International by 0.6% during the 2nd quarter. Ecofin Ltd. now owns 30,727 shares of the utilities provider’s stock worth $2,403,000 after purchasing an additional 179 shares during the last quarter. Thrivent Financial For Lutherans raised its position in Edison International by 2.8% during the 2nd quarter. Thrivent Financial For Lutherans now owns 12,705 shares of the utilities provider’s stock worth $993,000 after purchasing an additional 350 shares during the last quarter. MML Investors Services LLC raised its position in Edison International by 8.8% during the 2nd quarter. MML Investors Services LLC now owns 7,138 shares of the utilities provider’s stock worth $558,000 after purchasing an additional 575 shares during the last quarter. Finally, Americafirst Capital Management LLC raised its position in Edison International by 12.7% during the 2nd quarter. Americafirst Capital Management LLC now owns 5,288 shares of the utilities provider’s stock worth $413,000 after purchasing an additional 595 shares during the last quarter. 80.57% of the stock is owned by institutional investors and hedge funds.

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Edison International Company Profile

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.

The Fly

Analyst Recommendations for Edison International (NYSE:EIX)

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