UBS Group Lowers Edison International (NYSE:EIX) Price Target to $87.00

Edison International (NYSE:EIX - Get Free Report) had its target price lowered by equities researchers at UBS Group from $96.00 to $87.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the utilities provider's stock. UBS Group's price objective would suggest a potential upside of 11.64% from the stock's current price.

A number of other brokerages have also recently commented on EIX. Royal Bank of Canada upped their price target on Edison International from $94.00 to $100.00 and gave the company an "outperform" rating in a research report on Friday, October 4th. Bank of America initiated coverage on shares of Edison International in a research note on Thursday, September 12th. They set a "buy" rating and a $95.00 price target on the stock. Barclays lifted their price objective on shares of Edison International from $89.00 to $91.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Argus boosted their target price on shares of Edison International from $82.00 to $97.00 and gave the company a "buy" rating in a report on Wednesday, September 11th. Finally, Morgan Stanley cut their price target on Edison International from $74.00 to $72.00 and set an "underweight" rating for the company in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $88.58.

Edison International Stock Down 0.4 %

Shares of NYSE:EIX traded down $0.33 during trading on Thursday, reaching $77.93. 2,636,651 shares of the stock were exchanged, compared to its average volume of 2,028,489. Edison International has a 1-year low of $63.15 and a 1-year high of $88.77. The stock has a fifty day moving average of $83.88 and a two-hundred day moving average of $81.24. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The firm has a market cap of $30.17 billion, a price-to-earnings ratio of 22.85, a price-to-earnings-growth ratio of 1.96 and a beta of 0.92.

Edison International (NYSE:EIX - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.13. The business had revenue of $5.20 billion for the quarter, compared to analysts' expectations of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.38 EPS. Research analysts anticipate that Edison International will post 4.94 earnings per share for the current fiscal year.

Insider Activity

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the company's stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.03% of the company's stock.

Institutional Investors Weigh In On Edison International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. grew its position in Edison International by 101.5% during the 2nd quarter. Blue Trust Inc. now owns 1,048 shares of the utilities provider's stock valued at $74,000 after purchasing an additional 528 shares during the last quarter. Atria Wealth Solutions Inc. increased its position in shares of Edison International by 4.1% during the second quarter. Atria Wealth Solutions Inc. now owns 16,680 shares of the utilities provider's stock valued at $1,198,000 after acquiring an additional 654 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. raised its holdings in Edison International by 28.3% in the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 58,555 shares of the utilities provider's stock worth $4,205,000 after acquiring an additional 12,920 shares during the last quarter. Quotient Wealth Partners LLC bought a new position in Edison International in the 2nd quarter valued at approximately $307,000. Finally, Retirement Systems of Alabama boosted its stake in Edison International by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 84,873 shares of the utilities provider's stock valued at $6,095,000 after purchasing an additional 214 shares during the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

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.