Barclays Forecasts Strong Price Appreciation for Edison International (NYSE:EIX) Stock

Edison International (NYSE:EIX) had its price objective lifted by Barclays from $64.00 to $65.00 in a report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the utilities provider’s stock. Barclays‘s price target indicates a potential upside of 17.60% from the stock’s previous close.

EIX has been the topic of a number of other research reports. JPMorgan Chase & Co. dropped their target price on Edison International from $75.00 to $71.00 and set a “neutral” rating on the stock in a report on Monday, May 19th. Wolfe Research downgraded Edison International from an “outperform” rating to a “peer perform” rating in a research note on Monday, June 9th. Morgan Stanley decreased their price target on Edison International from $52.00 to $51.00 and set an “underweight” rating on the stock in a research note on Wednesday, June 18th. Finally, Evercore ISI restated an “outperform” rating on shares of Edison International in a research note on Thursday, May 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $76.19.

Edison International Trading Up 0.1%

NYSE:EIX opened at $55.27 on Monday. The firm has a market cap of $21.27 billion, a P/E ratio of 8.12, a PEG ratio of 1.30 and a beta of 0.75. The company has a current ratio of 0.87, a quick ratio of 0.81 and a debt-to-equity ratio of 2.03. The stock’s 50 day simple moving average is $51.85 and its 200-day simple moving average is $54.39. Edison International has a 12-month low of $47.73 and a 12-month high of $88.77.

Edison International (NYSE:EIX) last released its earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. The business had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.52 billion. Edison International had a return on equity of 11.99% and a net margin of 16.00%. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.23 earnings per share. Equities analysts anticipate that Edison International will post 4.95 EPS for the current year.

Institutional Trading of Edison International

Several institutional investors and hedge funds have recently made changes to their positions in the stock. FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its position in shares of Edison International by 2.7% in the second quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 7,422 shares of the utilities provider’s stock valued at $383,000 after acquiring an additional 196 shares in the last quarter. Kentucky Trust Co increased its stake in Edison International by 66.7% in the second quarter. Kentucky Trust Co now owns 500 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 200 shares during the last quarter. Empowered Funds LLC increased its stake in Edison International by 2.4% in the first quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider’s stock valued at $523,000 after purchasing an additional 211 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in Edison International by 0.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 73,809 shares of the utilities provider’s stock valued at $3,818,000 after purchasing an additional 213 shares during the last quarter. Finally, GHP Investment Advisors Inc. increased its stake in Edison International by 21.7% in the second quarter. GHP Investment Advisors Inc. now owns 1,217 shares of the utilities provider’s stock valued at $63,000 after purchasing an additional 217 shares during the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

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.