Edison International (NYSE:EIX) Price Target Raised to $64.00 at Morgan Stanley

Edison International (NYSE:EIX) had its price objective increased by Morgan Stanley from $58.00 to $64.00 in a report published on Tuesday morning, Benzinga reports. They currently have an underweight rating on the utilities provider’s stock.

Several other research firms have also recently issued reports on EIX. TheStreet cut Edison International from a b rating to a c+ rating in a research note on Thursday, February 22nd. Wells Fargo & Company raised Edison International from an equal weight rating to an overweight rating and boosted their target price for the company from $72.00 to $86.00 in a research note on Tuesday, May 14th. Mizuho boosted their target price on Edison International from $75.00 to $85.00 and gave the company a buy rating in a research note on Friday, May 17th. The Goldman Sachs Group assumed coverage on Edison International in a research note on Wednesday, April 10th. They set a neutral rating and a $78.00 target price on the stock. Finally, Barclays boosted their target price on Edison International from $72.00 to $75.00 and gave the company an equal weight rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $77.22.

Edison International Price Performance

Shares of Edison International stock opened at $74.67 on Tuesday. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.00 and a quick ratio of 0.93. The business’s 50 day simple moving average is $71.82 and its two-hundred day simple moving average is $69.42. The stock has a market capitalization of $28.73 billion, a P/E ratio of 32.75 and a beta of 0.95. Edison International has a one year low of $58.82 and a one year high of $76.83.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.01. The business had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.16 billion. Edison International had a return on equity of 12.48% and a net margin of 6.14%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.09 EPS. Analysts forecast that Edison International will post 4.92 EPS for the current year.

Insider Transactions at Edison International

In other news, CEO J Andrew Murphy sold 9,794 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $75.07, for a total value of $735,235.58. Following the sale, the chief executive officer now directly owns 19,660 shares in the company, valued at $1,475,876.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.03% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Capital Research Global Investors increased its holdings in Edison International by 1.7% during the 1st quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider’s stock worth $1,438,984,000 after purchasing an additional 345,189 shares during the period. Pzena Investment Management LLC increased its holdings in Edison International by 2.3% during the 1st quarter. Pzena Investment Management LLC now owns 13,605,080 shares of the utilities provider’s stock worth $962,287,000 after purchasing an additional 305,459 shares during the period. Capital International Investors increased its holdings in Edison International by 6.4% during the 1st quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock worth $940,562,000 after purchasing an additional 795,950 shares during the period. Wellington Management Group LLP increased its holdings in shares of Edison International by 4.4% in the 4th quarter. Wellington Management Group LLP now owns 10,276,016 shares of the utilities provider’s stock valued at $734,632,000 after acquiring an additional 433,845 shares during the period. Finally, Clearbridge Investments LLC increased its holdings in shares of Edison International by 8.9% in the 3rd quarter. Clearbridge Investments LLC now owns 6,830,749 shares of the utilities provider’s stock valued at $432,318,000 after acquiring an additional 558,351 shares during the period. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

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.