Barclays Cuts Edison International (NYSE:EIX) Price Target to $67.00

Edison International (NYSE:EIX) had its target price cut by stock analysts at Barclays from $76.00 to $67.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the utilities provider’s stock. Barclays‘s price target points to a potential upside of 14.13% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Wells Fargo & Company increased their price objective on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective for the company in a report on Wednesday, January 15th. Jefferies Financial Group assumed coverage on shares of Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 price objective on the stock. Morgan Stanley reduced their target price on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. Finally, Royal Bank of Canada upped their price target on shares of Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $82.88.

Edison International Stock Up 2.5 %

Shares of NYSE:EIX opened at $58.71 on Thursday. Edison International has a 1 year low of $55.27 and a 1 year high of $88.77. The company has a market capitalization of $22.73 billion, a PE ratio of 17.22, a price-to-earnings-growth ratio of 1.20 and a beta of 0.93. The business has a fifty day moving average price of $77.69 and a two-hundred day moving average price of $80.95. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81.

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. 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 in the prior year, the business earned $1.38 earnings per share. Analysts forecast that Edison International will post 4.94 earnings per share for the current year.

Insider Activity

In related news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.03% of the company’s stock.

Hedge Funds Weigh In On Edison International

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC lifted its holdings in shares of Edison International by 8.7% during the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock worth $1,898,638,000 after acquiring an additional 1,741,835 shares during the last quarter. abrdn plc raised its position in Edison International by 166.4% during the third quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock valued at $123,149,000 after purchasing an additional 885,955 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in Edison International by 117.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 781,736 shares of the utilities provider’s stock worth $68,081,000 after purchasing an additional 422,752 shares during the last quarter. State Street Corp boosted its holdings in shares of Edison International by 0.7% in 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 in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Edison International by 2.2% during 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 purchasing an additional 210,461 shares during the last quarter. 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.