Edison International (NYSE:EIX) Given New $62.00 Price Target at UBS Group

Edison International (NYSE:EIX) had its price target lifted by UBS Group from $57.00 to $62.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the utilities provider’s stock. UBS Group‘s target price points to a potential upside of 5.23% from the company’s previous close.

Several other analysts also recently weighed in on the stock. Barclays boosted their target price on shares of Edison International from $53.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Friday. Bank of America downgraded Edison International from a “buy” rating to a “neutral” rating and cut their target price for the company from $81.00 to $51.00 in a research report on Tuesday, September 1st. JPMorgan Chase & Co. reduced their target price on Edison International from $61.00 to $59.00 and set a “neutral” rating for the company in a research note on Monday, October 12th. Argus cut Edison International from a “buy” rating to a “hold” rating in a research report on Wednesday, August 26th. Finally, Mizuho downgraded Edison International from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $86.00 to $70.00 in a research note on Monday, August 31st. One research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $61.12.

Edison International Stock Performance

Shares of Edison International stock opened at $58.92 on Friday. The company has a 50-day simple moving average of $57.77 and a two-hundred day simple moving average of $67.72. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.71 and a current ratio of 0.77. Edison International has a one year low of $51.10 and a one year high of $81.62. The company has a market capitalization of $22.67 billion, a PE ratio of 6.26, a P/E/G ratio of 2.49 and a beta of 0.56.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Thursday, October 29th. The utilities provider reported $1.92 EPS for the quarter, beating the consensus estimate of $1.81 by $0.11. Edison International had a return on equity of 14.17% and a net margin of 20.50%. The firm had revenue of $4.89 billion during the quarter, compared to analyst estimates of $5.34 billion. During the same quarter in the prior year, the business posted $2.34 EPS. The business’s revenue for the quarter was down 15.0% compared to the same quarter last year. Research analysts expect that Edison International will post 6.13 EPS for the current fiscal year.

Insider Activity at Edison International

In other Edison International news, Director Peter Taylor sold 500 shares of the business’s stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $55.56, for a total value of $27,780.00. Following the completion of the transaction, the director directly owned 33,212 shares of the company’s stock, valued at approximately $1,845,258.72. The trade was a 1.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Edison International

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ascent Group LLC boosted its holdings in Edison International by 1.2% during the third quarter. Ascent Group LLC now owns 40,344 shares of the utilities provider’s stock worth $2,168,000 after buying an additional 485 shares in the last quarter. Rakuten Investment Management Inc. increased its holdings in Edison International by 9.7% in the third quarter. Rakuten Investment Management Inc. now owns 69,068 shares of the utilities provider’s stock valued at $3,699,000 after buying an additional 6,124 shares in the last quarter. Provenance Wealth Advisors LLC purchased a new position in Edison International in the third quarter valued at $27,000. Putney Financial Group LLC purchased a new position in Edison International in the third quarter valued at $38,000. Finally, Welch Group LLC acquired a new position in shares of Edison International in the third quarter worth about $501,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

About Edison International

Edison International (NYSE: EIX) is an electric power holding company based in California. Its principal subsidiary, Southern California Edison (SCE), is one of the largest electric utilities in the United States and delivers electricity across central, coastal and Southern California. SCE serves millions of residential, commercial and industrial customers through an extensive transmission and distribution network.

Edison International’s operations are focused on the generation, transmission and distribution of electricity, as well as supporting the transition to cleaner energy.