Edison International (NYSE:EIX) Downgraded by Wall Street Zen to “Hold”

Edison International (NYSE:EIX) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

A number of other research analysts have also recently issued reports on EIX. JPMorgan Chase & Co. raised their price target on shares of Edison International from $65.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday, January 28th. UBS Group cut Edison International from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $70.00 to $78.00 in a research report on Friday. Weiss Ratings reissued a “hold (c)” rating on shares of Edison International in a report on Monday, December 29th. Jefferies Financial Group reduced their price objective on Edison International from $59.00 to $54.00 and set a “hold” rating for the company in a research note on Wednesday, January 28th. Finally, Wells Fargo & Company lowered Edison International from an “equal weight” rating to an “underweight” rating and upped their target price for the company from $56.00 to $59.00 in a research report on Tuesday, January 20th. Four investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $64.10.

Edison International Price Performance

Shares of EIX opened at $71.43 on Friday. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.76 and a current ratio of 0.82. The company has a 50 day moving average price of $61.15 and a 200-day moving average price of $57.74. Edison International has a fifty-two week low of $47.73 and a fifty-two week high of $71.61. The stock has a market capitalization of $27.48 billion, a PE ratio of 9.34, a PEG ratio of 1.01 and a beta of 0.82.

Institutional Investors Weigh In On Edison International

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Edison International by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 52,220,399 shares of the utilities provider’s stock valued at $3,134,268,000 after purchasing an additional 480,726 shares during the period. State Street Corp grew its position in Edison International by 3.0% during the fourth quarter. State Street Corp now owns 33,141,204 shares of the utilities provider’s stock valued at $1,989,135,000 after buying an additional 953,800 shares during the period. Geode Capital Management LLC increased its holdings in Edison International by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 13,018,379 shares of the utilities provider’s stock valued at $803,407,000 after buying an additional 386,905 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Edison International by 8.0% in the third quarter. AQR Capital Management LLC now owns 10,763,984 shares of the utilities provider’s stock worth $595,033,000 after acquiring an additional 801,082 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Edison International by 10.8% during the 2nd quarter. Invesco Ltd. now owns 6,392,459 shares of the utilities provider’s stock worth $329,851,000 after acquiring an additional 621,924 shares in the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Company Profile

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.