Morgan Stanley Raises Edison International (NYSE:EIX) Price Target to $52.00

Edison International (NYSE:EIX) had its price objective hoisted by analysts at Morgan Stanley from $48.00 to $52.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “underweight” rating on the utilities provider’s stock. Morgan Stanley’s target price would suggest a potential downside of 10.84% from the stock’s previous close.

A number of other research firms have also commented on EIX. Mizuho reduced their price objective on Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Guggenheim lowered Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. UBS Group raised Edison International from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $69.00 to $65.00 in a research note on Tuesday, February 18th. The Goldman Sachs Group reduced their price objective on Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Finally, LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective on the stock in a research note on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $76.82.

Edison International Price Performance

Shares of EIX stock opened at $58.32 on Thursday. The stock’s fifty day simple moving average is $55.24 and its 200 day simple moving average is $73.60. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The firm has a market cap of $22.45 billion, a price-to-earnings ratio of 17.10, a P/E/G ratio of 1.07 and a beta of 0.87. Edison International has a one year low of $49.06 and a one year high of $88.77.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.03). The company had revenue of $17.60 billion during the quarter, compared to analyst estimates of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. On average, analysts expect that Edison International will post 4.95 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Edison International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Edison International by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider’s stock valued at $3,879,408,000 after purchasing an additional 1,559,501 shares during the last quarter. State Street Corp increased its holdings in Edison International by 0.7% in the third quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock valued at $2,834,774,000 after purchasing an additional 224,337 shares during the last quarter. FMR LLC increased its holdings 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 during the last quarter. Geode Capital Management LLC increased its holdings in Edison International by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 9,983,519 shares of the utilities provider’s stock valued at $795,123,000 after purchasing an additional 362,999 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Edison International by 53.9% in the fourth quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider’s stock valued at $459,642,000 after purchasing an additional 2,016,017 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

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.