Edison International (NYSE:EIX) Price Target Lowered to $72.00 at Morgan Stanley

Edison International (NYSE:EIX - Get Free Report) had its price objective reduced by stock analysts at Morgan Stanley from $74.00 to $72.00 in a research report issued on Friday,Benzinga reports. The firm presently has an "underweight" rating on the utilities provider's stock. Morgan Stanley's price objective indicates a potential downside of 16.74% from the company's current price.

Several other equities analysts have also recently weighed in on EIX. Wells Fargo & Company lifted their price objective on shares of Edison International from $87.00 to $94.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Bank of America began coverage on Edison International in a report on Thursday, September 12th. They set a "buy" rating and a $95.00 price target on the stock. Jefferies Financial Group started coverage on Edison International in a research note on Thursday, November 7th. They issued a "buy" rating and a $93.00 price objective for the company. Royal Bank of Canada lifted their target price on Edison International from $94.00 to $100.00 and gave the company an "outperform" rating in a research note on Friday, October 4th. Finally, Guggenheim upped their target price on Edison International from $80.00 to $83.00 and gave the company a "buy" rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Edison International has a consensus rating of "Moderate Buy" and a consensus price target of $88.75.

Edison International Trading Down 0.7 %

Shares of Edison International stock traded down $0.61 on Friday, reaching $86.48. 2,774,521 shares of the company were exchanged, compared to its average volume of 2,414,169. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. Edison International has a fifty-two week low of $63.15 and a fifty-two week high of $88.77. The firm has a market capitalization of $33.48 billion, a price-to-earnings ratio of 25.36, a price-to-earnings-growth ratio of 2.08 and a beta of 0.92. The stock has a fifty day moving average price of $84.64 and a 200-day moving average price of $80.13.

Edison International (NYSE:EIX - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter in the previous year, the company earned $1.38 EPS. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. On average, analysts expect that Edison International will post 4.95 EPS for the current year.

Insider Activity

In other news, CEO J Andrew Murphy sold 23,896 shares of Edison International stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $85.45, for a total value of $2,041,913.20. Following the transaction, the chief executive officer now owns 19,850 shares of the company's stock, valued at $1,696,182.50. This trade represents a 54.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Adam S. Umanoff sold 25,619 shares of the company's stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,516 shares of company stock worth $4,169,652. 1.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of EIX. Highline Wealth Partners LLC bought a new stake in shares of Edison International in the third quarter valued at approximately $26,000. Groupama Asset Managment grew its position in Edison International by 0.8% in the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider's stock worth $26,000 after purchasing an additional 237 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of Edison International during the 2nd quarter worth about $27,000. Eastern Bank acquired a new position in shares of Edison International during the third quarter valued at about $27,000. Finally, Country Trust Bank bought a new stake in shares of Edison International in the second quarter valued at about $29,000. Institutional investors and hedge funds own 88.95% of the company's stock.

Edison International Company Profile

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.