Edison International (NYSE:EIX) Raised to “Overweight” at Barclays

Edison International (NYSE:EIX) was upgraded by research analysts at Barclays from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage presently has a $84.00 target price on the utilities provider’s stock, down from their prior target price of $91.00. Barclays‘s price objective suggests a potential upside of 5.26% from the stock’s previous close.

EIX has been the subject of several other reports. Jefferies Financial Group began coverage on shares of Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price for the company. Morgan Stanley lowered their price objective on Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. Bank of America initiated coverage on Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 target price on the stock. Argus lifted their price target on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Finally, Royal Bank of Canada increased their price objective on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Edison International has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

Edison International Stock Performance

Shares of EIX opened at $79.80 on Thursday. Edison International has a 12-month low of $63.15 and a 12-month high of $88.77. The stock has a market cap of $30.89 billion, a P/E ratio of 23.40, a PEG ratio of 1.96 and a beta of 0.93. 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 company has a 50-day moving average of $82.84 and a two-hundred day moving average of $81.62.

Edison International (NYSE:EIX) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.13. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.38 earnings per share. As a group, research analysts predict that Edison International will post 4.94 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, VP Adam S. Umanoff sold 25,619 shares of the business’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 legal filing with the SEC, which is available through this hyperlink. 1.03% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Edison International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. TIAA Trust National Association grew its stake in shares of Edison International by 2.0% during the second quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock valued at $483,000 after acquiring an additional 134 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Edison International by 0.6% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 33,014 shares of the utilities provider’s stock valued at $2,371,000 after purchasing an additional 209 shares in the last quarter. Founders Financial Securities LLC raised its position in shares of Edison International by 4.0% in the 2nd quarter. Founders Financial Securities LLC now owns 10,741 shares of the utilities provider’s stock valued at $771,000 after purchasing an additional 415 shares in the last quarter. Foundations Investment Advisors LLC boosted its stake in shares of Edison International by 5.5% during the 2nd quarter. Foundations Investment Advisors LLC now owns 8,659 shares of the utilities provider’s stock valued at $622,000 after buying an additional 448 shares during the last quarter. Finally, Consolidated Planning Corp acquired a new stake in shares of Edison International during the second quarter worth approximately $260,000. Hedge funds and other institutional investors 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.