Bank of America Begins Coverage on Edison International (NYSE:EIX)

Analysts at Bank of America initiated coverage on shares of Edison International (NYSE:EIX) in a research note issued to investors on Thursday, StockNewsAPI reports. The firm set a “buy” rating and a $95.00 price target on the utilities provider’s stock. Bank of America‘s price objective points to a potential upside of 12.77% from the company’s current price.

Other analysts also recently issued reports about the stock. Argus raised their target price on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays raised their price target on shares of Edison International from $80.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 4th. Evercore ISI raised their price target 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. UBS Group raised their price target on shares of Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Finally, Mizuho raised their price target on shares of Edison International from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Edison International has an average rating of “Hold” and a consensus price target of $84.67.

Edison International Stock Performance

Shares of EIX stock opened at $84.24 on Thursday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03. The company has a market capitalization of $32.53 billion, a P/E ratio of 36.95 and a beta of 0.91. The company’s 50 day moving average price is $80.55 and its two-hundred day moving average price is $74.64. Edison International has a 52 week low of $58.82 and a 52 week high of $88.77.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.05 by $0.18. The firm had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.12 billion. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the company posted $1.01 EPS. On average, analysts expect that Edison International will post 4.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Edison International news, VP Natalie K. Schilling sold 2,341 shares of Edison International stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the completion of the transaction, the vice president now directly owns 6,338 shares of the company’s stock, valued at $507,040. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Edison International news, VP Natalie K. Schilling sold 2,341 shares of Edison International stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the completion of the transaction, the vice president now directly owns 6,338 shares of the company’s stock, valued at $507,040. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO J Andrew Murphy sold 23,896 shares of Edison International stock in a transaction on 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 transaction, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at $1,696,182.50. The disclosure for this sale can be found here. Insiders sold a total of 89,099 shares of company stock valued at $7,223,342 over the last ninety days. 1.03% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Edison International

Hedge funds and other institutional investors have recently modified their holdings of the company. Capital Research Global Investors raised its stake in Edison International by 1.7% in the first quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider’s stock valued at $1,438,984,000 after purchasing an additional 345,189 shares in the last quarter. Pzena Investment Management LLC raised its stake in Edison International by 2.3% in the first quarter. Pzena Investment Management LLC now owns 13,605,080 shares of the utilities provider’s stock valued at $962,287,000 after purchasing an additional 305,459 shares in the last quarter. Capital International Investors raised its stake in Edison International by 6.4% in the first quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock valued at $940,562,000 after purchasing an additional 795,950 shares in the last quarter. Wellington Management Group LLP raised its stake in Edison International by 4.4% in the fourth quarter. Wellington Management Group LLP now owns 10,276,016 shares of the utilities provider’s stock valued at $734,632,000 after purchasing an additional 433,845 shares in the last quarter. Finally, Clearbridge Investments LLC raised its stake in Edison International by 0.5% in the second quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock valued at $360,198,000 after purchasing an additional 24,834 shares in the last quarter. 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.