Edison International (NYSE:EIX) Price Target Lowered to $67.00 at Barclays

Edison International (NYSE:EIX) had its target price cut by stock analysts at Barclays from $76.00 to $67.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the utilities provider’s stock. Barclays‘s price objective suggests a potential upside of 15.28% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. UBS Group cut their price target on shares of Edison International from $87.00 to $69.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price for the company in a report on Wednesday, January 15th. Jefferies Financial Group began coverage on Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 price target on the stock. Wells Fargo & Company upped their price objective on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley lowered their price objective on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Edison International has an average rating of “Moderate Buy” and an average target price of $82.88.

Edison International Stock Performance

Shares of EIX opened at $58.12 on Thursday. The firm has a market capitalization of $22.50 billion, a P/E ratio of 17.04, a P/E/G ratio of 1.28 and a beta of 0.93. Edison International has a 52 week low of $55.27 and a 52 week high of $88.77. The stock has a 50 day moving average price of $78.19 and a two-hundred day moving average price of $81.12. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter in the prior year, the company posted $1.38 earnings per share. Edison International’s revenue was up 10.6% compared to the same quarter last year. Equities analysts forecast that Edison International will post 4.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction dated 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 currently owned by insiders.

Institutional Trading of Edison International

A number of large investors have recently modified their holdings of the business. FMR LLC raised its stake in Edison International by 8.7% in the third quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock valued at $1,898,638,000 after purchasing an additional 1,741,835 shares in the last quarter. abrdn plc increased its holdings in shares of Edison International by 166.4% in the 3rd quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock worth $123,149,000 after buying an additional 885,955 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Edison International by 117.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 781,736 shares of the utilities provider’s stock valued at $68,081,000 after buying an additional 422,752 shares in the last quarter. State Street Corp lifted its holdings in shares of Edison International by 0.7% during the 3rd quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock worth $2,834,774,000 after acquiring an additional 224,337 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Edison International by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider’s stock worth $835,142,000 after acquiring an additional 210,461 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

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.