Edison International (NYSE:EIX) Raised to Overweight at Barclays

Edison International (NYSE:EIX) was upgraded by equities research analysts at Barclays from an “equal weight” rating to an “overweight” rating in a report issued on Thursday, Marketbeat reports. The brokerage presently has a $84.00 price objective on the utilities provider’s stock, down from their previous price objective of $91.00. Barclays‘s price target points to a potential upside of 5.26% from the company’s previous close.

A number of other equities research analysts have also issued reports on the company. Jefferies Financial Group assumed coverage on Edison International in a research report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target on the stock. Argus lifted their price target on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Wells Fargo & Company boosted their price target on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Royal Bank of Canada raised their price objective on shares of Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Finally, UBS Group lowered their target price on shares of Edison International from $96.00 to $87.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $88.00.

Edison International Stock Down 0.3 %

Shares of NYSE:EIX opened at $79.80 on Thursday. The firm has a market capitalization of $30.89 billion, a PE ratio of 23.40, a price-to-earnings-growth ratio of 1.96 and a beta of 0.93. Edison International has a 1 year low of $63.15 and a 1 year high of $88.77. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The firm’s 50-day moving average is $82.84 and its two-hundred day moving average is $81.62.

Edison International (NYSE:EIX) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $5.01 billion. During the same period in the prior year, the firm earned $1.38 EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. Analysts predict that Edison International will post 4.94 EPS for the current year.

Insider Buying and Selling

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.03% of the stock is owned by company insiders.

Institutional Investors Weigh In On Edison International

Several hedge funds have recently modified their holdings of the stock. Lake Street Advisors Group LLC boosted its holdings in shares of Edison International by 4.3% in the third quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock valued at $263,000 after acquiring an additional 124 shares in the last quarter. Baker Tilly Wealth Management LLC boosted its holdings in Edison International by 2.8% in the 3rd quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock valued at $416,000 after purchasing an additional 129 shares in the last quarter. SFE Investment Counsel increased its position 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. TIAA Trust National Association raised its stake in shares of Edison International by 2.0% during the 2nd quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock worth $483,000 after buying an additional 134 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. raised its stake in shares of Edison International by 53.8% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after buying an additional 140 shares in the last quarter. 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.