Edison International (NYSE:EIX) Rating Reiterated by Royal Bank of Canada

Edison International (NYSE:EIX)‘s stock had its “outperform” rating reiterated by equities research analysts at Royal Bank of Canada in a research note issued to investors on Monday, Benzinga reports. They presently have a $94.00 target price on the utilities provider’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 9.23% from the stock’s previous close.

A number of other analysts have also recently weighed in on EIX. Evercore ISI boosted their price objective on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Barclays boosted their target price on shares of Edison International from $80.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 4th. Bank of America assumed coverage on Edison International in a research report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price target on the stock. Argus boosted their price objective on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Finally, Morgan Stanley raised their target price on Edison International from $62.00 to $68.00 and gave the company an “underweight” rating in a report on Friday, August 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $85.83.

Edison International Stock Down 0.2 %

Edison International stock opened at $86.06 on Monday. The company has a market capitalization of $33.11 billion, a P/E ratio of 37.75 and a beta of 0.91. Edison International has a 1-year low of $58.82 and a 1-year high of $88.77. The firm’s fifty day simple moving average is $81.65 and its 200-day simple moving average is $75.21. The company has a current ratio of 1.03, a quick ratio of 0.96 and a debt-to-equity ratio of 2.04.

Edison International (NYSE:EIX) last released its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.18. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The company had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the prior year, the company posted $1.01 EPS. The firm’s revenue was up 9.4% on a year-over-year basis. Sell-side analysts forecast that Edison International will post 4.96 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO J Andrew Murphy sold 28,995 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $78.43, for a total value of $2,274,077.85. Following the completion of the transaction, the chief executive officer now owns 19,660 shares of the company’s stock, valued at $1,541,933.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Natalie K. Schilling sold 2,341 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total value of $187,280.00. Following the sale, the vice president now owns 6,338 shares in the company, valued at approximately $507,040. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO J Andrew Murphy sold 28,995 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $78.43, for a total transaction of $2,274,077.85. Following the sale, the chief executive officer now owns 19,660 shares of the company’s stock, valued at approximately $1,541,933.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,099 shares of company stock worth $7,223,342. Corporate insiders own 1.03% of the company’s stock.

Hedge Funds Weigh In On Edison International

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised its stake in shares of Edison International by 7.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 114,115 shares of the utilities provider’s stock valued at $8,158,000 after acquiring an additional 7,919 shares during the last quarter. Quadrant Capital Group LLC raised its position in Edison International by 9.8% in the 4th quarter. Quadrant Capital Group LLC now owns 3,316 shares of the utilities provider’s stock valued at $237,000 after purchasing an additional 297 shares during the last quarter. Meridian Wealth Management LLC bought a new position in Edison International in the 4th quarter valued at $277,000. Kentucky Retirement Systems boosted its stake in Edison International by 4.5% in the fourth quarter. Kentucky Retirement Systems now owns 30,667 shares of the utilities provider’s stock worth $2,192,000 after purchasing an additional 1,317 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund grew its holdings in shares of Edison International by 4.2% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 13,655 shares of the utilities provider’s stock worth $976,000 after purchasing an additional 551 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

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.