Barclays Lowers Edison International (NYSE:EIX) Price Target to $76.00

Edison International (NYSE:EIX) had its target price dropped by equities researchers at Barclays from $84.00 to $76.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the utilities provider’s stock. Barclays‘s price target points to a potential upside of 26.67% from the company’s previous close.

Several other research firms have also commented on EIX. UBS Group reduced 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 target price on Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Jefferies Financial Group initiated coverage on shares of Edison International in a research report on Thursday, November 7th. They set a “buy” rating and a $93.00 price target for the company. Wells Fargo & Company upped their price target on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada lifted their price target on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $87.33.

Edison International Trading Down 7.7 %

Shares of EIX traded down $5.00 during trading hours on Monday, reaching $60.00. 1,627,719 shares of the company traded hands, compared to its average volume of 4,780,236. The stock’s fifty day moving average price is $81.66 and its 200 day moving average price is $81.82. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The firm has a market cap of $23.23 billion, a price-to-earnings ratio of 17.60, a PEG ratio of 1.96 and a beta of 0.93. Edison International has a 12-month low of $59.64 and a 12-month high of $88.77.

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

Insider Activity at Edison International

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of Edison International 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.03% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Edison International

Several hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp boosted its stake in 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 purchasing an additional 224,337 shares during the period. FMR LLC grew its holdings in shares of Edison International by 8.7% during the third quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock worth $1,898,638,000 after buying an additional 1,741,835 shares during the last quarter. Geode Capital Management LLC increased its position in Edison International by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider’s stock valued at $835,142,000 after acquiring an additional 210,461 shares during the period. Clearbridge Investments LLC raised its stake in Edison International by 0.5% during the 2nd quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock valued at $360,198,000 after acquiring an additional 24,834 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Edison International by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,340,116 shares of the utilities provider’s stock worth $203,801,000 after acquiring an additional 28,240 shares during the period. 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.