Evercore ISI Raises Edison International (NYSE:EIX) Price Target to $88.00

Edison International (NYSE:EIX - Get Free Report) had its price objective raised by Evercore ISI from $82.00 to $88.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an "outperform" rating on the utilities provider's stock. Evercore ISI's target price would suggest a potential upside of 5.85% from the stock's previous close.

Several other equities research analysts have also issued reports on EIX. Guggenheim lifted their price objective on shares of Edison International from $80.00 to $83.00 and gave the company a "buy" rating in a research note on Friday, July 26th. Barclays lifted their price objective on shares of Edison International from $75.00 to $80.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 30th. Morgan Stanley reduced their price objective on shares of Edison International from $64.00 to $61.00 and set an "underweight" rating for the company in a research note on Monday, June 24th. Wells Fargo & Company lifted their price objective on shares of Edison International from $86.00 to $87.00 and gave the company an "overweight" rating in a research note on Friday, July 26th. Finally, UBS Group lowered shares of Edison International from a "buy" rating to a "neutral" rating and cut their target price for the stock from $83.00 to $82.00 in a research report on Friday, July 19th. One 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 data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $80.09.

Edison International Trading Up 0.3 %

NYSE EIX traded up $0.23 on Wednesday, hitting $83.14. 2,118,393 shares of the stock were exchanged, compared to its average volume of 2,034,655. Edison International has a 52-week low of $58.82 and a 52-week high of $83.80. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.03 and a quick ratio of 0.96. The company has a market capitalization of $32.11 billion, a price-to-earnings ratio of 36.47 and a beta of 0.91. The company's 50-day moving average price is $75.37 and its two-hundred day moving average price is $71.98.

Edison International (NYSE:EIX - Get Free Report) last posted its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.05 by $0.18. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The business had revenue of $4.34 billion for the quarter, compared to analysts' expectations of $4.12 billion. During the same period in the previous year, the company posted $1.01 EPS. Edison International's revenue was up 9.4% on a year-over-year basis. Research analysts predict that Edison International will post 4.92 EPS for the current year.

Insider Transactions at Edison International

In other news, VP Natalie K. Schilling sold 2,341 shares of the business's stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the transaction, the vice president now owns 6,338 shares in the company, valued at approximately $507,040. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, VP Natalie K. Schilling sold 2,341 shares of the company's stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total value of $187,280.00. Following the sale, the vice president now owns 6,338 shares of the company's stock, valued at $507,040. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Caroline Choi sold 10,004 shares of the company's stock in a transaction dated Wednesday, June 5th. The shares were 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 directly owns 26,918 shares in the company, valued at approximately $2,039,576.86. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 73,845 shares of company stock worth $5,823,662. 1.03% of the stock is currently owned by company insiders.

Institutional Trading of Edison International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EIX. Able Wealth Management LLC bought a new stake in Edison International during the fourth quarter worth about $25,000. Ashton Thomas Private Wealth LLC bought a new stake in Edison International during the second quarter worth about $27,000. Global Trust Asset Management LLC bought a new stake in Edison International during the first quarter worth about $28,000. Country Trust Bank bought a new stake in Edison International during the second quarter worth about $29,000. Finally, Farmers & Merchants Investments Inc. grew its stake in Edison International by 53.8% during the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider's stock worth $29,000 after buying an additional 140 shares during the last quarter. 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.