Edison International (NYSE:EIX) Given New $67.00 Price Target at Barclays

Edison International (NYSE:EIX) had its price objective lowered by analysts at Barclays from $76.00 to $67.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the utilities provider’s stock. Barclays‘s target price indicates a potential upside of 15.28% from the company’s previous close.

A number of other brokerages have also recently commented on EIX. Jefferies Financial Group assumed coverage on shares of Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 target price on the stock. LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective on the stock in a research note on Wednesday, January 15th. Morgan Stanley decreased their target price on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. Royal Bank of Canada upped their price target on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Finally, UBS Group lowered their price objective on Edison International from $87.00 to $69.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $82.88.

Edison International Stock Down 6.6 %

Shares of Edison International stock opened at $58.12 on Thursday. The stock has a market capitalization of $22.50 billion, a price-to-earnings ratio of 17.04, a P/E/G ratio of 1.28 and a beta of 0.93. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The company’s 50 day moving average price is $78.19 and its 200-day moving average price is $81.12. Edison International has a 52-week low of $55.27 and a 52-week high of $88.77.

Edison International (NYSE:EIX) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.13. The firm 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%. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.38 EPS. Equities research analysts forecast that Edison International will post 4.94 EPS for the current year.

Insider Activity at Edison International

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.03% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Highline Wealth Partners LLC bought a new position in Edison International in the 3rd quarter worth $26,000. Groupama Asset Managment lifted its holdings in shares of Edison International by 0.8% in the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock worth $26,000 after buying an additional 237 shares in the last quarter. Eastern Bank purchased a new position in shares of Edison International in the third quarter worth $27,000. Larson Financial Group LLC boosted its position in shares of Edison International by 125.0% during the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 195 shares during the last quarter. Finally, Prospera Private Wealth LLC purchased a new position in Edison International during the third quarter valued at $32,000. 88.95% of the stock is 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.