Wells Fargo & Company Has Lowered Expectations for Edison International (NYSE:EIX) Stock Price

Edison International (NYSE:EIX) had its target price decreased by equities researchers at Wells Fargo & Company from $94.00 to $75.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price target points to a potential upside of 36.34% from the stock’s current price.

A number of other research firms also recently issued reports on EIX. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $72.00 price objective on shares of Edison International in a report on Wednesday, February 12th. Guggenheim lowered shares of Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Barclays lowered their target price on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Jefferies Financial Group assumed coverage on Edison International in a research report on Thursday, November 7th. They set a “buy” rating and a $93.00 price objective for the company. Finally, Morgan Stanley reduced their price target on Edison International from $71.00 to $48.00 and set an “underweight” rating for the company in a report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $78.75.

Edison International Trading Up 7.1 %

Shares of NYSE:EIX traded up $3.67 on Friday, hitting $55.01. The company had a trading volume of 3,676,396 shares, compared to its average volume of 6,273,575. Edison International has a 1 year low of $49.06 and a 1 year high of $88.77. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The firm’s 50-day simple moving average is $61.88 and its two-hundred day simple moving average is $76.70. The firm has a market capitalization of $21.30 billion, a price-to-earnings ratio of 16.17, a P/E/G ratio of 1.07 and a beta of 0.90.

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

Hedge Funds Weigh In On Edison International

A number of institutional investors and hedge funds have recently modified their holdings of EIX. Norges Bank bought a new position in Edison International in the fourth quarter valued at about $323,443,000. Canada Pension Plan Investment Board boosted its holdings in shares of Edison International by 364.1% in the fourth quarter. Canada Pension Plan Investment Board now owns 3,369,535 shares of the utilities provider’s stock worth $269,024,000 after buying an additional 2,643,571 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Edison International by 53.9% in the fourth quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider’s stock worth $459,642,000 after buying an additional 2,016,017 shares during the last quarter. FMR LLC grew its position in Edison International by 8.7% during the third quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock valued at $1,898,638,000 after buying an additional 1,741,835 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in Edison International by 149.3% during the fourth quarter. Ameriprise Financial Inc. now owns 2,793,795 shares of the utilities provider’s stock valued at $223,057,000 after buying an additional 1,673,204 shares during the last quarter. 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.