Edison International (NYSE:EIX) PT Raised to $83.00 at Guggenheim

Edison International (NYSE:EIX) had its target price raised by research analysts at Guggenheim from $80.00 to $83.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the utilities provider’s stock. Guggenheim’s price objective would indicate a potential upside of 5.76% from the stock’s previous close.

EIX has been the subject of a number of other research reports. Mizuho increased their price target on shares of Edison International from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday, May 17th. Argus lifted their target price on Edison International from $78.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, June 12th. The Goldman Sachs Group started coverage on Edison International in a research report on Wednesday, April 10th. They set a “neutral” rating and a $78.00 target price on the stock. Barclays raised their price target on Edison International from $72.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. Finally, Morgan Stanley reduced their price target on shares of Edison International from $64.00 to $61.00 and set an “underweight” rating for the company in a report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $77.82.

Edison International Price Performance

Shares of Edison International stock traded up $2.05 during trading on Friday, reaching $78.48. 1,948,758 shares of the stock traded hands, compared to its average volume of 2,010,120. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.00 and a quick ratio of 0.93. The company has a market capitalization of $30.20 billion, a price-to-earnings ratio of 34.56 and a beta of 0.91. Edison International has a 52-week low of $58.82 and a 52-week high of $79.50. The business has a fifty day simple moving average of $73.77 and a two-hundred day simple moving average of $70.84.

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

Insider Transactions at Edison International

In other Edison International news, SVP Caroline Choi sold 10,004 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $75.77, for a total transaction of $758,003.08. Following the transaction, the senior vice president now owns 26,918 shares in the company, valued at approximately $2,039,576.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Edison International news, SVP Caroline Choi sold 10,004 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $75.77, for a total value of $758,003.08. Following the sale, the senior vice president now directly owns 26,918 shares of the company’s stock, valued at $2,039,576.86. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO J Andrew Murphy sold 58,099 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $75.01, for a total transaction of $4,358,005.99. Following the sale, the chief executive officer now directly owns 19,660 shares in the company, valued at approximately $1,474,696.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 77,897 shares of company stock worth $5,851,245. Insiders own 1.03% of the company’s stock.

Institutional Investors Weigh In On Edison International

Several hedge funds have recently modified their holdings of the company. Able Wealth Management LLC purchased a new position in Edison International during the fourth quarter worth approximately $25,000. Global Trust Asset Management LLC acquired a new stake in Edison International in the 1st quarter valued at $28,000. Country Trust Bank purchased a new stake in Edison International in the 2nd quarter worth $29,000. OFI Invest Asset Management acquired a new position in Edison International during the second quarter worth $32,000. Finally, WASHINGTON TRUST Co lifted its holdings in Edison International by 117.4% during the fourth quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 270 shares in the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

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.