Morgan Stanley Cuts Edison International (NYSE:EIX) Price Target to $72.00

Edison International (NYSE:EIX) had its price objective lowered by stock analysts at Morgan Stanley from $74.00 to $72.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “underweight” rating on the utilities provider’s stock. Morgan Stanley’s price target suggests a potential downside of 17.48% from the company’s previous close.

A number of other analysts have also weighed in on EIX. Wells Fargo & Company upped their price objective on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Barclays lifted their price objective on shares of Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Evercore ISI upped their target price on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. 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 report on Friday, October 4th. Finally, UBS Group upped their price objective on Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $88.75.

Edison International Trading Up 0.2 %

Edison International stock traded up $0.16 during mid-day trading on Friday, hitting $87.25. The company’s stock had a trading volume of 677,412 shares, compared to its average volume of 2,023,814. Edison International has a one year low of $63.15 and a one year high of $88.77. The stock has a market cap of $33.78 billion, a PE ratio of 25.59, a P/E/G ratio of 2.05 and a beta of 0.92. The company has a 50 day moving average of $84.61 and a 200-day moving average of $79.99. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter last year, the business posted $1.38 EPS. On average, research analysts anticipate that Edison International will post 4.95 EPS for the current year.

Insider Buying and Selling

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the business’s 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO J Andrew Murphy sold 23,896 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $85.45, for a total value of $2,041,913.20. Following the completion of the transaction, the chief executive officer now owns 19,850 shares of the company’s stock, valued at approximately $1,696,182.50. The trade was a 54.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,516 shares of company stock worth $4,169,652 in the last three months. Corporate insiders own 1.03% of the company’s stock.

Institutional Trading of Edison International

Large investors have recently made changes to their positions in the business. Virtu Financial LLC purchased a new position in Edison International during the third quarter valued at approximately $1,791,000. Toronto Dominion Bank grew its stake in shares of Edison International by 45.5% during the 3rd quarter. Toronto Dominion Bank now owns 180,916 shares of the utilities provider’s stock worth $15,756,000 after purchasing an additional 56,571 shares during the period. Coldstream Capital Management Inc. increased its holdings in shares of Edison International by 5.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 8,426 shares of the utilities provider’s stock valued at $732,000 after purchasing an additional 421 shares in the last quarter. Strait & Sound Wealth Management LLC lifted its stake in shares of Edison International by 52.9% in the 3rd quarter. Strait & Sound Wealth Management LLC now owns 5,823 shares of the utilities provider’s stock valued at $507,000 after purchasing an additional 2,014 shares during the period. Finally, RB Capital Management LLC purchased a new stake in Edison International during the third quarter worth $245,000. 88.95% of the stock is owned by hedge funds and other institutional investors.

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.