Edison International (NYSE:EIX) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Edison International (NYSE:EIX) had its price objective raised by Wells Fargo & Company from $87.00 to $94.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 12.85% from the stock’s current price.

A number of other equities analysts have also recently commented on EIX. Argus lifted their price objective on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Guggenheim increased their target price on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Royal Bank of Canada increased their price objective on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Bank of America began coverage on Edison International in a report on Thursday, September 12th. They set a “buy” rating and a $95.00 target price for the company. Finally, Barclays dropped their price objective on shares of Edison International from $91.00 to $89.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.36.

Edison International Stock Up 0.2 %

EIX stock traded up $0.16 during mid-day trading on Wednesday, reaching $83.30. The company had a trading volume of 538,178 shares, compared to its average volume of 1,984,283. Edison International has a 52 week low of $62.21 and a 52 week high of $88.77. The company has a market capitalization of $32.17 billion, a price-to-earnings ratio of 33.37, a PEG ratio of 1.94 and a beta of 0.91. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.03 and a quick ratio of 0.96. The stock has a 50 day simple moving average of $85.52 and a two-hundred day simple moving average of $78.58.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.12. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The company’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.38 EPS. As a group, equities analysts predict that Edison International will post 4.95 earnings per share for the current fiscal year.

Insider Transactions at Edison International

In other Edison International news, CEO J Andrew Murphy sold 1,362 shares of Edison International stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $85.00, for a total value of $115,770.00. Following the completion of the sale, the chief executive officer now directly owns 19,850 shares in the company, valued at approximately $1,687,250. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Institutional Trading of Edison International

Large investors have recently made changes to their positions in the company. CreativeOne Wealth LLC bought a new stake in shares of Edison International during the first quarter valued at approximately $230,000. Swedbank AB grew its holdings in shares of Edison International by 76.3% during the second quarter. Swedbank AB now owns 446,637 shares of the utilities provider’s stock valued at $32,073,000 after buying an additional 193,307 shares during the last quarter. Intech Investment Management LLC increased its position in shares of Edison International by 44.9% during the first quarter. Intech Investment Management LLC now owns 46,263 shares of the utilities provider’s stock worth $3,272,000 after acquiring an additional 14,346 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Edison International by 14.5% in the 1st quarter. Sei Investments Co. now owns 321,567 shares of the utilities provider’s stock worth $22,744,000 after acquiring an additional 40,646 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its position in Edison International by 150.6% in the 1st quarter. Janus Henderson Group PLC now owns 169,742 shares of the utilities provider’s stock valued at $12,004,000 after acquiring an additional 102,000 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

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.