Edison International (NYSE:EIX) Stock Rating Lowered by Guggenheim

Edison International (NYSE:EIX) was downgraded by equities researchers at Guggenheim from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday, MarketBeat.com reports.

A number of other research firms also recently commented on EIX. Royal Bank of Canada raised 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. Jefferies Financial Group assumed coverage on shares of Edison International in a research note on Thursday, November 7th. They set a “buy” rating and a $93.00 price target for the company. Wells Fargo & Company upped their price objective on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. UBS Group decreased their price target on Edison International from $87.00 to $69.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Finally, LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective for the company in a research note on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.88.

Edison International Stock Up 2.5 %

NYSE EIX opened at $58.71 on Thursday. Edison International has a twelve month low of $55.27 and a twelve month high of $88.77. The stock has a market cap of $22.73 billion, a PE ratio of 17.22, a PEG ratio of 1.20 and a beta of 0.93. The firm has a 50-day simple moving average of $77.69 and a 200 day simple moving average of $80.95. 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, topping the consensus estimate of $1.38 by $0.13. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. Edison International’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.38 EPS. On average, research analysts forecast that Edison International will post 4.94 EPS for the current year.

Insider Activity at Edison International

In other news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.03% of the stock is currently owned by company insiders.

Institutional Trading of Edison International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Crews Bank & Trust acquired a new position in Edison International during the 4th quarter valued at about $25,000. Highline Wealth Partners LLC bought a new stake in shares of Edison International during the third quarter worth approximately $26,000. Groupama Asset Managment lifted its holdings in Edison International by 0.8% in the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock valued at $26,000 after buying an additional 237 shares during the period. Eastern Bank bought a new position in Edison International in the third quarter valued at approximately $27,000. Finally, Larson Financial Group LLC raised its position in shares of Edison International by 125.0% during the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 195 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

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.