Edison International (NYSE:EIX) Receives $77.22 Consensus Target Price from Analysts

Shares of Edison International (NYSE:EIX) have earned a consensus rating of “Hold” from the eleven research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $77.70.

A number of brokerages have commented on EIX. Mizuho lifted their target price on Edison International from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Royal Bank of Canada dropped their target price on Edison International from $81.00 to $80.00 and set an “outperform” rating on the stock in a research report on Thursday, March 7th. Argus raised their target price on Edison International from $78.00 to $82.00 and gave the company a “buy” rating in a research note on Wednesday. Wells Fargo & Company upgraded shares of Edison International from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $72.00 to $86.00 in a research report on Tuesday, May 14th. Finally, Morgan Stanley lifted their price objective on shares of Edison International from $58.00 to $64.00 and gave the company an “underweight” rating in a research report on Tuesday, May 28th.

Edison International Stock Performance

Shares of EIX opened at $73.21 on Friday. The stock has a market capitalization of $28.17 billion, a PE ratio of 32.11 and a beta of 0.95. The business’s fifty day moving average price is $72.86 and its 200 day moving average price is $70.12. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.00 and a quick ratio of 0.93. Edison International has a 12-month low of $58.82 and a 12-month high of $77.04.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.01. Edison International had a net margin of 6.14% and a return on equity of 12.48%. The company had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.16 billion. During the same period last year, the firm posted $1.09 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. Equities research analysts forecast that Edison International will post 4.92 EPS for the current year.

Insiders Place Their Bets

In related news, CEO J Andrew Murphy sold 9,794 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $75.07, for a total transaction of $735,235.58. Following the sale, the chief executive officer now owns 19,660 shares of the company’s stock, valued at $1,475,876.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO J Andrew Murphy sold 9,794 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $75.07, for a total transaction of $735,235.58. Following the completion of the transaction, the chief executive officer now owns 19,660 shares of the company’s stock, valued at $1,475,876.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Caroline Choi sold 10,004 shares of Edison International stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $75.77, for a total value of $758,003.08. Following the transaction, the senior vice president now directly owns 26,918 shares in the company, valued at $2,039,576.86. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,897 shares of company stock worth $5,851,245. 1.03% of the stock is owned by corporate insiders.

Institutional Trading of Edison International

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Able Wealth Management LLC acquired a new stake in shares of Edison International during the fourth quarter worth $25,000. Bruce G. Allen Investments LLC acquired a new stake in Edison International during the 4th quarter worth about $27,000. Global Trust Asset Management LLC purchased a new stake in Edison International during the first quarter valued at about $28,000. WASHINGTON TRUST Co boosted its holdings in shares of Edison International by 117.4% in the fourth quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock worth $36,000 after buying an additional 270 shares during the period. Finally, Northwest Financial Advisors purchased a new position in shares of Edison International in the fourth quarter worth approximately $40,000. 88.95% of the stock is owned by institutional investors and hedge funds.

About Edison International

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.