Edison International (NYSE:EIX) Stock Price Expected to Rise, UBS Group Analyst Says

Edison International (NYSE:EIX) had its price target raised by research analysts at UBS Group from $57.00 to $62.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the utilities provider’s stock. UBS Group‘s target price suggests a potential upside of 5.23% from the stock’s current price.

Several other analysts have also recently commented on EIX. Jefferies Financial Group cut Edison International from a “hold” rating to an “underperform” rating and lowered their price target for the company from $53.00 to $42.00 in a report on Friday, October 2nd. Barclays upped their price target on shares of Edison International from $53.00 to $58.00 and gave the company an “equal weight” rating in a report on Friday. Mizuho lowered Edison International from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $86.00 to $70.00 in a research report on Monday, August 31st. HSBC initiated coverage on Edison International in a report on Thursday, October 22nd. They issued a “hold” rating and a $56.50 price target on the stock. Finally, Argus cut Edison International from a “buy” rating to a “hold” rating in a research report on Wednesday, August 26th. One research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $61.12.

Edison International Stock Performance

Shares of EIX opened at $58.92 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.77 and a debt-to-equity ratio of 2.01. Edison International has a 52-week low of $51.10 and a 52-week high of $81.62. The company has a 50-day simple moving average of $57.77 and a 200-day simple moving average of $67.72. 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 released its quarterly earnings data on Thursday, October 29th. The utilities provider reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.11. Edison International had a net margin of 20.50% and a return on equity of 14.17%. The firm had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $5.34 billion. During the same quarter in the previous year, the firm earned $2.34 earnings per share. The firm’s revenue was down 15.0% on a year-over-year basis. Equities research analysts predict that Edison International will post 6.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Peter Taylor sold 500 shares of the company’s stock in a transaction on Monday, October 12th. The stock was sold at an average price of $55.56, for a total transaction of $27,780.00. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Edison International

A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in Edison International in the second quarter valued at approximately $3,340,412,000. Legal & General Group Plc bought a new position in shares of Edison International during the 2nd quarter worth about $329,766,000. Bank of New York Mellon Corp bought a new stake in Edison International during the second quarter worth about $309,361,000. Amundi lifted its position in Edison International by 27.0% during the 2nd quarter. Amundi now owns 3,570,726 shares of the utilities provider’s stock worth $265,843,000 after buying an additional 759,236 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in Edison International in the second quarter worth about $261,275,000. 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.