Wells Fargo & Company Forecasts Strong Price Appreciation for Edison International (NYSE:EIX) Stock

Edison International (NYSE:EIX) had its target price boosted by analysts at Wells Fargo & Company from $87.00 to $94.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 12.85% from the company’s current price.

A number of other equities research analysts have also recently commented on EIX. Barclays dropped their price objective on Edison International from $91.00 to $89.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 15th. Argus increased their price target on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Evercore ISI boosted their price objective on Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Bank of America began coverage on shares of Edison International in a research report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price target on the stock. Finally, Morgan Stanley lifted their price objective on shares of Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a research note on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.36.

Edison International Stock Performance

Shares of EIX stock traded up $0.16 during trading on Wednesday, hitting $83.30. The company’s stock had a trading volume of 538,178 shares, compared to its average volume of 1,984,283. The company has a current ratio of 1.03, a quick ratio of 0.96 and a debt-to-equity ratio of 2.04. The company has a market cap of $32.17 billion, a PE ratio of 33.37, a P/E/G ratio of 1.94 and a beta of 0.91. The business has a fifty day moving average of $85.52 and a 200-day moving average of $78.58. Edison International has a 52 week low of $62.21 and a 52 week high of $88.77.

Edison International (NYSE:EIX) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.12. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.01 billion. During the same period in the previous year, the business posted $1.38 EPS. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, research analysts anticipate that Edison International will post 4.95 earnings per share for the current year.

Insider Buying and Selling at Edison International

In other Edison International news, CEO J Andrew Murphy sold 1,362 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $85.00, for a total value of $115,770.00. Following the transaction, the chief executive officer now owns 19,850 shares in the company, valued at approximately $1,687,250. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Institutional Trading of Edison International

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lake Street Advisors Group LLC boosted its stake in shares of Edison International by 4.3% during the 3rd quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock valued at $263,000 after purchasing an additional 124 shares in the last quarter. Baker Tilly Wealth Management LLC boosted its holdings in shares of Edison International by 2.8% during the 3rd quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock valued at $416,000 after buying an additional 129 shares in the last quarter. SFE Investment Counsel grew its position in shares of Edison International by 0.3% in the 3rd quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock worth $3,721,000 after buying an additional 130 shares during the period. Equitable Trust Co. grew its position in shares of Edison International by 0.9% in the 2nd quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider’s stock worth $1,108,000 after buying an additional 132 shares during the period. Finally, TIAA Trust National Association grew its holdings in Edison International by 2.0% in the second quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock worth $483,000 after purchasing an additional 134 shares during the period. Hedge funds and other institutional investors 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.