Edison International (NYSE:EIX) Upgraded by UBS Group to “Buy” Rating

Edison International (NYSE:EIX) was upgraded by investment analysts at UBS Group from a “neutral” rating to a “buy” rating in a note issued to investors on Tuesday, Marketbeat.com reports. The brokerage presently has a $65.00 target price on the utilities provider’s stock, down from their previous target price of $69.00. UBS Group’s target price would suggest a potential upside of 24.07% from the stock’s current price.

A number of other analysts have also recently weighed in on EIX. LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective for the company in a research report on Wednesday, January 15th. Guggenheim downgraded Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. Morgan Stanley dropped their price objective on shares of Edison International from $71.00 to $48.00 and set an “underweight” rating on the stock in a research note on Friday, February 14th. Jefferies Financial Group initiated coverage on shares of Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price for the company. Finally, Wells Fargo & Company boosted their price target on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $80.11.

Edison International Price Performance

Shares of EIX opened at $52.39 on Tuesday. 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 has a fifty-two week low of $49.06 and a fifty-two week high of $88.77. The firm has a 50-day simple moving average of $65.84 and a 200-day simple moving average of $78.08. The company has a market capitalization of $20.28 billion, a price-to-earnings ratio of 15.36, a price-to-earnings-growth ratio of 1.03 and a beta of 0.90.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. AMF Tjanstepension AB increased its holdings in Edison International by 9.8% during the 3rd quarter. AMF Tjanstepension AB now owns 271,365 shares of the utilities provider’s stock valued at $23,662,000 after acquiring an additional 24,208 shares in the last quarter. Creative Planning lifted its holdings in shares of Edison International by 6.4% in the third quarter. Creative Planning now owns 50,962 shares of the utilities provider’s stock valued at $4,438,000 after purchasing an additional 3,078 shares in the last quarter. Blue Trust Inc. grew its position in shares of Edison International by 135.2% in the third quarter. Blue Trust Inc. now owns 2,465 shares of the utilities provider’s stock valued at $215,000 after purchasing an additional 1,417 shares during the last quarter. Raymond James & Associates increased its stake in shares of Edison International by 6.2% during the 3rd quarter. Raymond James & Associates now owns 403,309 shares of the utilities provider’s stock worth $35,124,000 after purchasing an additional 23,441 shares in the last quarter. Finally, OLD National Bancorp IN acquired a new position in shares of Edison International during the 3rd quarter worth approximately $208,000. Hedge funds and other 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.