Morgan Stanley Raises Edison International (NYSE:EIX) Price Target to $64.00

Edison International (NYSE:EIX) had its price objective boosted by Morgan Stanley from $58.00 to $64.00 in a research note published on Tuesday morning, Benzinga reports. The brokerage currently has an underweight rating on the utilities provider’s stock.

Several other analysts also recently weighed in on the company. The Goldman Sachs Group started coverage on Edison International in a report on Wednesday, April 10th. They issued a neutral rating and a $78.00 target price for the company. Royal Bank of Canada reduced their target price on Edison International from $81.00 to $80.00 and set an outperform rating for the company in a report on Thursday, March 7th. Barclays boosted their target price on Edison International from $72.00 to $75.00 and gave the company an equal weight rating in a report on Thursday, May 2nd. StockNews.com raised Edison International from a sell rating to a hold rating in a report on Saturday, February 24th. Finally, TheStreet downgraded Edison International from a b rating to a c+ rating in a research note on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Edison International currently has a consensus rating of Hold and an average target price of $77.22.

Edison International Trading Up 3.0 %

NYSE:EIX opened at $76.91 on Tuesday. The stock has a 50-day simple moving average of $71.97 and a 200-day simple moving average of $69.52. The stock has a market cap of $29.59 billion, a P/E ratio of 33.73 and a beta of 0.95. Edison International has a 1 year low of $58.82 and a 1 year high of $77.02. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.93 and a current ratio of 1.00.

Edison International (NYSE:EIX) last released its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.01. The business had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.16 billion. Edison International had a return on equity of 12.48% and a net margin of 6.14%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.09 EPS. As a group, analysts anticipate that Edison International will post 4.92 earnings per share for the current fiscal year.

Insider Transactions at Edison International

In other news, CEO J Andrew Murphy sold 58,099 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $75.01, for a total transaction of $4,358,005.99. Following the completion of the transaction, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at approximately $1,474,696.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.03% of the company’s stock.

Institutional Investors Weigh In On Edison International

Institutional investors and hedge funds have recently modified their holdings of the company. Able Wealth Management LLC acquired a new stake in shares of Edison International in the 4th quarter worth approximately $25,000. Bruce G. Allen Investments LLC acquired a new stake in Edison International during the 4th quarter valued at $27,000. Global Trust Asset Management LLC acquired a new stake in Edison International during the 1st quarter valued at $28,000. WASHINGTON TRUST Co grew its holdings in Edison International by 117.4% during the 4th quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock valued at $36,000 after buying an additional 270 shares during the last quarter. Finally, Northwest Financial Advisors acquired a new stake in Edison International during the 4th quarter valued at $40,000. 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.