Barclays Has Lowered Expectations for Edison International (NYSE:EIX) Stock Price

Edison International (NYSE:EIX) had its price target dropped by investment analysts at Barclays from $84.00 to $76.00 in a report released on Monday,Benzinga reports. The firm currently has an “overweight” rating on the utilities provider’s stock. Barclays‘s price target points to a potential upside of 29.89% from the stock’s previous close.

A number of other research firms have also recently commented on EIX. Royal Bank of Canada increased their target price on shares of Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Jefferies Financial Group assumed coverage on shares of Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target for the company. UBS Group decreased their price target on shares of Edison International from $96.00 to $87.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. Morgan Stanley decreased their price target on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Finally, Wells Fargo & Company raised their price target on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $87.33.

Edison International Trading Up 2.2 %

NYSE:EIX opened at $58.51 on Monday. Edison International has a 52 week low of $55.27 and a 52 week high of $88.77. The firm has a 50 day moving average of $80.71 and a 200 day moving average of $81.62. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The stock has a market capitalization of $22.65 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 1.96 and a beta of 0.93.

Edison International (NYSE:EIX) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.01 billion. During the same quarter in the prior year, the company posted $1.38 earnings per share. Edison International’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, sell-side analysts anticipate 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 firm’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.03% of the stock is currently owned by corporate insiders.

Institutional Trading of Edison International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EIX. FMR LLC grew its position in Edison International by 8.7% during the third quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock valued at $1,898,638,000 after buying an additional 1,741,835 shares during the period. abrdn plc grew its position in Edison International by 166.4% during the third quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock valued at $123,149,000 after buying an additional 885,955 shares during the period. Robeco Institutional Asset Management B.V. grew its position in Edison International by 117.8% during the third 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 during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Edison International by 595.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 318,672 shares of the utilities provider’s stock valued at $22,884,000 after buying an additional 272,876 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in Edison International during the second quarter valued at $18,484,000. Institutional investors and hedge funds 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.