Edison International (NYSE:EIX) Downgraded to “Peer Perform” Rating by Wolfe Research

Wolfe Research lowered shares of Edison International (NYSE:EIX) from an outperform rating to a peer perform rating in a research report sent to investors on Monday morning, Marketbeat.com reports.

A number of other analysts have also commented on EIX. Barclays lifted their price target on Edison International from $64.00 to $67.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Morgan Stanley set a $52.00 target price on shares of Edison International and gave the stock an “underweight” rating in a research report on Thursday, May 22nd. Mizuho reduced their target price on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. Evercore ISI restated an “outperform” rating on shares of Edison International in a research report on Thursday, May 15th. Finally, UBS Group upgraded shares of Edison International from a “neutral” rating to a “buy” rating and cut their price target for the stock from $69.00 to $65.00 in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $76.89.

Edison International Trading Down 8.1%

Shares of Edison International stock opened at $49.43 on Monday. The firm’s 50 day moving average is $56.01 and its 200 day moving average is $61.96. The firm has a market capitalization of $19.02 billion, a PE ratio of 14.50, a price-to-earnings-growth ratio of 1.07 and a beta of 0.78. Edison International has a 1 year low of $48.38 and a 1 year high of $88.77. 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 (NYSE:EIX) last posted its earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.16. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $4.29 billion. During the same quarter in the previous year, the firm posted $1.13 earnings per share. The company’s revenue was down 6.5% on a year-over-year basis. Equities research analysts forecast that Edison International will post 4.95 earnings per share for the current fiscal year.

Institutional Trading of Edison International

A number of large investors have recently bought and sold shares of EIX. Norges Bank bought a new stake in shares of Edison International during the 4th quarter valued at about $323,443,000. AQR Capital Management LLC lifted its stake in Edison International by 190.5% in the first quarter. AQR Capital Management LLC now owns 5,428,038 shares of the utilities provider’s stock valued at $319,169,000 after buying an additional 3,559,602 shares during the period. JPMorgan Chase & Co. lifted its stake in Edison International by 111.6% in the first quarter. JPMorgan Chase & Co. now owns 5,663,427 shares of the utilities provider’s stock valued at $333,689,000 after buying an additional 2,987,318 shares during the period. ATLAS Infrastructure Partners UK Ltd. boosted its holdings in shares of Edison International by 197.2% during the 1st quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,395,732 shares of the utilities provider’s stock worth $258,997,000 after buying an additional 2,916,645 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its position in shares of Edison International by 364.1% during the 4th quarter. Canada Pension Plan Investment Board now owns 3,369,535 shares of the utilities provider’s stock worth $269,024,000 after buying an additional 2,643,571 shares during the period. 88.95% of the stock is currently 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.