Jefferies Financial Group Begins Coverage on Edison International (NYSE:EIX)

Equities researchers at Jefferies Financial Group initiated coverage on shares of Edison International (NYSE:EIX) in a research note issued to investors on Thursday, Marketbeat.com reports. The brokerage set a “buy” rating and a $93.00 price target on the utilities provider’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 11.87% from the company’s current price.

A number of other analysts have also weighed in on the stock. Evercore ISI upped their price objective on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Morgan Stanley boosted their price target on shares of Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a report on Wednesday, September 25th. Barclays increased their price objective on shares of Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Argus boosted their price objective on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Finally, UBS Group increased their target price on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Edison International currently has a consensus rating of “Moderate Buy” and an average price target of $88.75.

Edison International Stock Performance

Shares of NYSE:EIX opened at $83.13 on Thursday. The firm’s 50 day simple moving average is $84.99 and its 200-day simple moving average is $79.18. 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 one year low of $62.21 and a one year high of $88.77. The firm has a market cap of $32.18 billion, a PE ratio of 24.38, a price-to-earnings-growth ratio of 1.88 and a beta of 0.92.

Edison International (NYSE:EIX) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 EPS 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 the consensus estimate of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. Edison International’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the business posted $1.38 EPS. As a group, equities analysts predict that Edison International will post 4.95 EPS for the current year.

Insider Buying and Selling at Edison International

In other news, CEO J Andrew Murphy sold 23,896 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the sale, the chief executive officer now owns 19,850 shares in the company, valued at approximately $1,696,182.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO J Andrew Murphy sold 23,896 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were 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 directly owns 19,850 shares of the company’s stock, valued at $1,696,182.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,878 shares of company stock worth $4,285,422. 1.03% of the stock is owned by insiders.

Institutional Investors Weigh In On Edison International

A number of institutional investors and hedge funds have recently modified their holdings of the company. Darwin Wealth Management LLC acquired a new stake in Edison International during the 3rd quarter valued at approximately $35,000. Prospera Private Wealth LLC purchased a new position in shares of Edison International during the third quarter worth $32,000. PNC Financial Services Group Inc. lifted its position in Edison International by 6.6% during the third quarter. PNC Financial Services Group Inc. now owns 53,577 shares of the utilities provider’s stock valued at $4,666,000 after purchasing an additional 3,311 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Edison International in the third quarter valued at $1,387,000. Finally, Fifth Third Wealth Advisors LLC grew its position in Edison International by 51.7% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 7,494 shares of the utilities provider’s stock worth $653,000 after purchasing an additional 2,554 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

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.