Jefferies Financial Group Cuts Edison International (NYSE:EIX) Price Target to $54.00

Edison International (NYSE:EIX) had its price objective cut by stock analysts at Jefferies Financial Group from $59.00 to $54.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the utilities provider’s stock. Jefferies Financial Group’s target price points to a potential downside of 13.16% from the company’s current price.

A number of other research analysts also recently issued reports on the company. Zacks Research downgraded Edison International from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. Barclays lowered their price target on shares of Edison International from $68.00 to $67.00 and set an “overweight” rating on the stock in a report on Thursday, January 22nd. Wells Fargo & Company lowered shares of Edison International from an “equal weight” rating to an “underweight” rating and raised their price target for the company from $56.00 to $59.00 in a research report on Tuesday, January 20th. JPMorgan Chase & Co. upped their price objective on shares of Edison International from $65.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Edison International in a research note on Monday, December 29th. Five research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $63.30.

Edison International Stock Performance

NYSE:EIX traded down $0.45 during midday trading on Wednesday, hitting $62.18. The company’s stock had a trading volume of 859,254 shares, compared to its average volume of 2,944,173. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.82 and a quick ratio of 0.76. The firm’s 50 day moving average is $59.55 and its 200-day moving average is $56.65. Edison International has a fifty-two week low of $47.73 and a fifty-two week high of $63.19. The firm has a market cap of $23.93 billion, a P/E ratio of 8.13, a P/E/G ratio of 0.90 and a beta of 0.83.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $2.34 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.18. Edison International had a return on equity of 13.62% and a net margin of 17.24%.The company had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.31 billion. During the same period last year, the firm earned $1.51 EPS. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. Equities analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Edison International news, Director Peter J. Taylor sold 1,800 shares of the business’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $55.27, for a total value of $99,486.00. Following the transaction, the director directly owned 35,212 shares in the company, valued at $1,946,167.24. The trade was a 4.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp boosted its position in shares of Edison International by 112.9% during the first quarter. Jones Financial Companies Lllp now owns 9,785 shares of the utilities provider’s stock worth $577,000 after buying an additional 5,190 shares during the period. Empowered Funds LLC lifted its stake in Edison International by 2.4% during the 1st quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider’s stock worth $523,000 after acquiring an additional 211 shares in the last quarter. Woodline Partners LP boosted its holdings in Edison International by 40.7% during the 1st quarter. Woodline Partners LP now owns 32,709 shares of the utilities provider’s stock valued at $1,927,000 after acquiring an additional 9,459 shares during the period. Sivia Capital Partners LLC grew its position in Edison International by 153.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 8,734 shares of the utilities provider’s stock valued at $451,000 after acquiring an additional 5,290 shares in the last quarter. Finally, Park Avenue Securities LLC purchased a new stake in Edison International during the 2nd quarter worth approximately $226,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

About Edison International

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.