Edison International (NYSE:EIX) Coverage Initiated by Analysts at Jefferies Financial Group

Investment analysts at Jefferies Financial Group started coverage on shares of Edison International (NYSE:EIX) in a research note issued on Thursday, Briefing.com reports. The firm set a “buy” rating and a $93.00 price target on the utilities provider’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 14.59% from the stock’s current price.

A number of other research firms also recently commented on EIX. UBS Group lifted their target price on Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Argus boosted their target price on shares of Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Guggenheim increased their price target on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Barclays boosted their price objective on Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, Evercore ISI lifted their price target on Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.75.

Edison International Stock Down 1.0 %

NYSE:EIX opened at $81.16 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. Edison International has a twelve month low of $62.21 and a twelve month high of $88.77. The company has a market cap of $31.42 billion, a PE ratio of 23.80, a P/E/G ratio of 1.88 and a beta of 0.92. The company’s 50 day moving average is $85.17 and its two-hundred day moving average is $79.08.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. During the same period in the previous year, the company earned $1.38 earnings per share. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. Analysts anticipate that Edison International will post 4.94 EPS for the current year.

Insider Buying and Selling

In related news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO J Andrew Murphy sold 23,896 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the completion of the sale, the chief executive officer now directly owns 19,850 shares in the company, valued at approximately $1,696,182.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,878 shares of company stock valued at $4,285,422. Company insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Lake Street Advisors Group LLC grew its position in shares of Edison International by 4.3% in the 3rd quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock valued at $263,000 after buying an additional 124 shares during the last quarter. Baker Tilly Wealth Management LLC boosted its holdings in shares of Edison International by 2.8% in the third quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock valued at $416,000 after acquiring an additional 129 shares during the period. SFE Investment Counsel boosted its stake in Edison International by 0.3% during the 3rd quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock worth $3,721,000 after purchasing an additional 130 shares during the period. Equitable Trust Co. raised its holdings in shares of Edison International by 0.9% in the second quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider’s stock valued at $1,108,000 after buying an additional 132 shares during the last quarter. Finally, TIAA Trust National Association increased its position in Edison International by 2.0% in the 2nd quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock valued at $483,000 after acquiring an additional 134 shares during the period. 88.95% of the stock is owned by institutional investors and hedge funds.

Edison International Company Profile

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.