Edison International (EIX) Price Target Raised to $90.00 at Morgan Stanley
Edison International (NYSE:EIX) had its price target upped by research analysts at Morgan Stanley from $86.00 to $90.00 in a report issued on Thursday. The brokerage currently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price objective would suggest a potential upside of 12.97% from the company’s current price.
EIX has been the topic of several other reports. Zacks Investment Research upgraded shares of Edison International from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a report on Thursday, July 6th. Jefferies Group LLC reiterated a “hold” rating on shares of Edison International in a report on Friday, July 14th. Barclays PLC reiterated an “equal weight” rating and issued a $84.00 price objective (up from $78.00) on shares of Edison International in a report on Sunday, April 23rd. Mizuho reiterated a “buy” rating and issued a $91.50 price objective on shares of Edison International in a report on Wednesday, April 19th. Finally, BidaskClub downgraded shares of Edison International from a “hold” rating to a “sell” rating in a report on Sunday, June 25th. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $83.96.
Shares of Edison International (NYSE:EIX) traded up 0.28% during mid-day trading on Thursday, reaching $79.67. 1,115,668 shares of the company’s stock were exchanged. The stock has a market cap of $25.96 billion, a price-to-earnings ratio of 18.84 and a beta of 0.22. 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 is $78.48 and its 200-day moving average is $78.60.
Edison International (NYSE:EIX) last released its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.85 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.85. Edison International had a net margin of 12.64% and a return on equity of 10.58%. The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same period in the previous year, the company earned $0.85 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis. On average, equities analysts expect that Edison International will post $4.24 EPS for the current year.
In related news, Director W Brett White sold 2,500 shares of the company’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $81.67, for a total transaction of $204,175.00. Following the completion of the sale, the director now owns 2,500 shares of the company’s stock, valued at $204,175. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ronald L. Litzinger sold 26,035 shares of the company’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $78.85, for a total transaction of $2,052,859.75. The disclosure for this sale can be found here. In the last three months, insiders sold 31,035 shares of company stock valued at $2,460,285. 0.41% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the company. Guardian Life Insurance Co. of America boosted its stake in Edison International by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 1,256 shares of the utilities provider’s stock valued at $100,000 after buying an additional 8 shares in the last quarter. Jones Collombin Investment Counsel Inc boosted its stake in Edison International by 69.4% in the first quarter. Jones Collombin Investment Counsel Inc now owns 1,745 shares of the utilities provider’s stock valued at $139,000 after buying an additional 715 shares in the last quarter. Wayne Hummer Investments L.L.C. purchased a new stake in Edison International during the first quarter valued at $200,000. Parallel Advisors LLC boosted its stake in Edison International by 41.7% in the first quarter. Parallel Advisors LLC now owns 2,517 shares of the utilities provider’s stock valued at $198,000 after buying an additional 741 shares in the last quarter. Finally, Gofen & Glossberg LLC IL purchased a new stake in Edison International during the first quarter valued at $201,000. 81.85% of the stock is owned by institutional investors and hedge funds.
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.
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