Edison International (NYSE:EIX) Receives $76.89 Average PT from Analysts

Edison International (NYSE:EIX) has been assigned an average recommendation of “Moderate Buy” from the fifteen research firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $76.82.

EIX has been the subject of several recent analyst reports. Barclays raised their price target on Edison International from $64.00 to $67.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. Wolfe Research cut Edison International from an “outperform” rating to a “peer perform” rating in a report on Monday, June 9th. JPMorgan Chase & Co. reduced their price objective on Edison International from $75.00 to $71.00 and set a “neutral” rating for the company in a report on Monday, May 19th. The Goldman Sachs Group decreased their target price on Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Finally, Morgan Stanley decreased their target price on Edison International from $52.00 to $51.00 and set an “underweight” rating on the stock in a research report on Wednesday.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of EIX. Norges Bank acquired a new position in shares of Edison International during the 4th quarter valued at about $323,443,000. AQR Capital Management LLC raised its holdings 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. raised its holdings 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. raised its holdings in Edison International by 197.2% in the first quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,395,732 shares of the utilities provider’s stock valued at $258,997,000 after buying an additional 2,916,645 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in Edison International by 364.1% in the fourth quarter. Canada Pension Plan Investment Board now owns 3,369,535 shares of the utilities provider’s stock valued at $269,024,000 after buying an additional 2,643,571 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Down 1.7%

EIX opened at $49.61 on Wednesday. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.96 and a quick ratio of 0.89. The business has a 50 day simple moving average of $55.04 and a 200-day simple moving average of $59.97. The stock has a market capitalization of $19.09 billion, a P/E ratio of 7.04, a P/E/G ratio of 1.19 and a beta of 0.78. Edison International has a 12 month low of $47.73 and a 12 month high of $88.77.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.37 EPS for the quarter, beating the consensus estimate of $1.21 by $0.16. The business had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $4.29 billion. Edison International had a return on equity of 13.21% and a net margin of 16.84%. The company’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same period last year, the firm earned $1.13 EPS. On average, equities analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

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.