Morgan Stanley Cuts Edison International (EIX) Price Target to $71.00

Edison International (NYSE:EIX) had its target price dropped by analysts at Morgan Stanley from $76.00 to $71.00 in a research note issued on Tuesday. The firm currently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s target price would indicate a potential upside of 18.00% from the company’s current price.

A number of other research firms also recently commented on EIX. ValuEngine raised Edison International from a “hold” rating to a “buy” rating in a report on Wednesday, November 15th. Bank of America reissued a “buy” rating and issued a $86.00 price target on shares of Edison International in a report on Tuesday, October 24th. SunTrust Banks reissued a “buy” rating and issued a $89.00 price target on shares of Edison International in a report on Monday, October 30th. Citigroup raised their price target on Edison International from $84.00 to $87.00 and gave the stock a “neutral” rating in a report on Tuesday, October 17th. Finally, Deutsche Bank cut their price target on Edison International to $78.00 and set a “hold” rating on the stock in a report on Wednesday, December 6th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. Edison International presently has a consensus rating of “Hold” and a consensus price target of $77.21.

Edison International (EIX) traded up $0.11 during trading hours on Tuesday, reaching $60.17. The company’s stock had a trading volume of 2,340,000 shares, compared to its average volume of 3,790,000. The company has a current ratio of 0.51, a quick ratio of 0.47 and a debt-to-equity ratio of 0.80. Edison International has a 52 week low of $57.63 and a 52 week high of $83.38. The company has a market cap of $19,600.00, a P/E ratio of 13.74, a PEG ratio of 2.17 and a beta of 0.17.

In other Edison International news, insider Ronald L. Litzinger sold 224,718 shares of Edison International 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.41% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the business. Capital International Investors bought a new stake in Edison International during the 3rd quarter valued at $95,783,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Edison International during the 3rd quarter valued at $557,000. Magnetar Financial LLC acquired a new position in shares of Edison International during the 3rd quarter valued at $256,000. Wells Fargo & Company MN increased its position in shares of Edison International by 30.3% during the 3rd quarter. Wells Fargo & Company MN now owns 2,572,937 shares of the utilities provider’s stock valued at $198,553,000 after purchasing an additional 598,402 shares during the period. Finally, Teacher Retirement System of Texas increased its position in shares of Edison International by 68.7% during the 3rd quarter. Teacher Retirement System of Texas now owns 185,333 shares of the utilities provider’s stock valued at $14,302,000 after purchasing an additional 75,473 shares during the period. 79.43% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Edison International (NYSE:EIX)

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