Wells Fargo & Company Boosts Edison International (NYSE:EIX) Price Target to $87.00

Edison International (NYSE:EIX) had its price objective raised by stock analysts at Wells Fargo & Company from $86.00 to $87.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 13.83% from the company’s current price.

Several other research analysts have also recently weighed in on EIX. Barclays lifted their price target on shares of Edison International from $72.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Mizuho lifted their target price on Edison International from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Morgan Stanley reduced their price target on Edison International from $64.00 to $61.00 and set an “underweight” rating for the company in a research report on Monday, June 24th. Argus raised their price objective on Edison International from $78.00 to $82.00 and gave the stock a “buy” rating in a research note on Wednesday, June 12th. Finally, UBS Group downgraded Edison International from a “buy” rating to a “neutral” rating and cut their price objective for the company from $83.00 to $82.00 in a research note on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Edison International currently has a consensus rating of “Hold” and an average target price of $77.91.

Edison International Stock Up 0.5 %

Edison International stock opened at $76.43 on Friday. The stock has a market cap of $29.41 billion, a PE ratio of 33.52 and a beta of 0.91. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.93 and a current ratio of 1.00. The stock has a fifty day moving average of $73.77 and a 200 day moving average of $70.84. Edison International has a one year low of $58.82 and a one year high of $77.59.

Edison International (NYSE:EIX) last released its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.12 by $0.01. The firm had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.16 billion. Edison International had a net margin of 6.14% and a return on equity of 12.48%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.09 EPS. As a group, sell-side analysts predict that Edison International will post 4.92 EPS for the current year.

Insider Activity at Edison International

In other Edison International news, SVP Caroline Choi sold 10,004 shares of Edison International stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $75.77, for a total value of $758,003.08. Following the sale, the senior vice president now directly owns 26,918 shares in the company, valued at approximately $2,039,576.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO J Andrew Murphy sold 9,794 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $75.07, for a total value of $735,235.58. Following the completion of the transaction, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at $1,475,876.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Caroline Choi sold 10,004 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $75.77, for a total transaction of $758,003.08. Following the completion of the sale, the senior vice president now owns 26,918 shares in the company, valued at approximately $2,039,576.86. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,897 shares of company stock valued at $5,851,245. Corporate insiders own 1.03% of the company’s stock.

Hedge Funds Weigh In On Edison International

Institutional investors and hedge funds have recently made changes to their positions in the business. Able Wealth Management LLC purchased a new stake in shares of Edison International during the 4th quarter valued at about $25,000. Global Trust Asset Management LLC purchased a new stake in Edison International during the first quarter valued at approximately $28,000. Country Trust Bank bought a new stake in shares of Edison International in the 2nd quarter valued at approximately $29,000. OFI Invest Asset Management purchased a new position in shares of Edison International in the 2nd quarter worth approximately $32,000. Finally, WASHINGTON TRUST Co increased its position in shares of Edison International by 117.4% during the 4th quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 270 shares during the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

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.