Edison International (NYSE:EIX) Price Target Lowered to $48.00 at Morgan Stanley

Edison International (NYSE:EIX) had its price target cut by equities researchers at Morgan Stanley from $71.00 to $48.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “underweight” rating on the utilities provider’s stock. Morgan Stanley’s price target suggests a potential downside of 4.20% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Barclays dropped their price target on Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Jefferies Financial Group assumed coverage on shares of Edison International in a research note on Thursday, November 7th. They set a “buy” rating and a $93.00 target price for the company. LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target on the stock in a research note on Wednesday, January 15th. Guggenheim downgraded shares of Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $72.00 target price on shares of Edison International in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $80.39.

Edison International Trading Down 2.7 %

Edison International stock opened at $50.11 on Friday. The stock has a 50-day simple moving average of $67.14 and a 200 day simple moving average of $78.53. The stock has a market capitalization of $19.40 billion, a P/E ratio of 14.69, a PEG ratio of 1.05 and a beta of 0.90. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. Edison International has a 52 week low of $49.06 and a 52 week high of $88.77.

Institutional Trading of Edison International

Several large investors have recently made changes to their positions in EIX. Swedbank AB lifted its stake in Edison International by 3.3% during the fourth quarter. Swedbank AB now owns 523,433 shares of the utilities provider’s stock worth $41,791,000 after purchasing an additional 16,614 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in Edison International in the fourth quarter valued at about $235,000. KBC Group NV grew its position in Edison International by 23.7% in the fourth quarter. KBC Group NV now owns 61,342 shares of the utilities provider’s stock valued at $4,898,000 after acquiring an additional 11,764 shares during the last quarter. abrdn plc raised its stake in Edison International by 19.5% during the fourth quarter. abrdn plc now owns 1,695,182 shares of the utilities provider’s stock worth $134,335,000 after acquiring an additional 276,656 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Edison International in the third quarter worth about $1,387,000. 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.