Edison International (NYSE:EIX) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Edison International (NYSE:EIX) had its target price hoisted by analysts at Morgan Stanley from $48.00 to $52.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “underweight” rating on the utilities provider’s stock. Morgan Stanley’s price target would indicate a potential downside of 11.76% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target on the stock in a report on Wednesday, January 15th. Barclays lowered their price objective on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $72.00 price objective on shares of Edison International in a research note on Wednesday, February 12th. Wells Fargo & Company lowered their price objective on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Finally, Guggenheim lowered shares of Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $76.82.

Edison International Stock Performance

Shares of EIX traded up $0.43 during mid-day trading on Thursday, reaching $58.93. 381,946 shares of the company’s stock traded hands, compared to its average volume of 2,608,237. The business’s 50-day moving average price is $55.58 and its 200-day moving average price is $73.91. The stock has a market capitalization of $22.69 billion, a P/E ratio of 17.28, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87. 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 has a 12 month low of $49.06 and a 12 month high of $88.77.

Edison International (NYSE:EIX) last released its quarterly earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). The business had revenue of $17.60 billion for the quarter, compared to the consensus estimate of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. Equities analysts predict that Edison International will post 4.95 earnings per share for the current year.

Hedge Funds Weigh In On Edison International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EIX. Norges Bank acquired a new position in Edison International in the 4th quarter worth approximately $323,443,000. Canada Pension Plan Investment Board boosted its stake in Edison International by 364.1% in the 4th quarter. Canada Pension Plan Investment Board now owns 3,369,535 shares of the utilities provider’s stock worth $269,024,000 after purchasing an additional 2,643,571 shares during the period. Northern Trust Corp boosted its stake in Edison International by 53.9% in the 4th quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider’s stock worth $459,642,000 after purchasing an additional 2,016,017 shares during the period. FMR LLC boosted its stake in Edison International by 8.7% in the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock worth $1,898,638,000 after purchasing an additional 1,741,835 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in Edison International by 149.3% in the 4th quarter. Ameriprise Financial Inc. now owns 2,793,795 shares of the utilities provider’s stock worth $223,057,000 after purchasing an additional 1,673,204 shares during the period. Institutional investors and hedge funds 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.