Royal Bank of Canada Increases Edison International (NYSE:EIX) Price Target to $100.00

Edison International (NYSE:EIX) had its price target increased by research analysts at Royal Bank of Canada from $94.00 to $100.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the utilities provider’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 16.04% from the company’s previous close.

Other research analysts have also recently issued reports about the company. Wells Fargo & Company boosted their price target on Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Evercore ISI boosted their price target on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Morgan Stanley lifted their price objective on Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th. Argus lifted their price objective on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Finally, Guggenheim lifted their price objective on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $86.67.

Edison International Stock Down 0.5 %

EIX stock opened at $86.18 on Friday. Edison International has a twelve month low of $58.82 and a twelve month high of $88.77. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 2.04. The stock has a market cap of $33.28 billion, a P/E ratio of 37.80, a PEG ratio of 2.02 and a beta of 0.91. The business’s 50-day moving average price is $84.56 and its 200-day moving average price is $76.75.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $4.12 billion. During the same period in the previous year, the firm earned $1.01 EPS. The firm’s revenue was up 9.4% compared to the same quarter last year. On average, equities research analysts forecast that Edison International will post 4.97 EPS for the current year.

Insider Activity at Edison International

In other Edison International news, CEO J Andrew Murphy sold 28,995 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 19,660 shares in the company, valued at $1,541,933.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Natalie K. Schilling sold 2,341 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total value of $187,280.00. Following the transaction, the vice president now directly owns 6,338 shares in the company, valued at approximately $507,040. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO J Andrew Murphy sold 28,995 shares of the firm’s 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 completion of the transaction, the chief executive officer now directly owns 19,660 shares in the company, valued at $1,541,933.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,099 shares of company stock worth $7,223,342. Insiders own 1.03% of the company’s stock.

Hedge Funds Weigh In On Edison International

Hedge funds have recently added to or reduced their stakes in the stock. CreativeOne Wealth LLC bought a new position in Edison International in the 1st quarter worth about $230,000. Swedbank AB grew its stake in Edison International by 76.3% in the 2nd quarter. Swedbank AB now owns 446,637 shares of the utilities provider’s stock worth $32,073,000 after acquiring an additional 193,307 shares in the last quarter. Brookstone Capital Management grew its stake in Edison International by 3,503.3% in the 1st quarter. Brookstone Capital Management now owns 135,341 shares of the utilities provider’s stock worth $9,573,000 after acquiring an additional 131,585 shares in the last quarter. Intech Investment Management LLC grew its stake in Edison International by 44.9% in the 1st quarter. Intech Investment Management LLC now owns 46,263 shares of the utilities provider’s stock worth $3,272,000 after acquiring an additional 14,346 shares in the last quarter. Finally, Sei Investments Co. grew its stake in Edison International by 14.5% in the 1st quarter. Sei Investments Co. now owns 321,567 shares of the utilities provider’s stock worth $22,744,000 after acquiring an additional 40,646 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors.

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.