Bank of America Begins Coverage on Edison International (NYSE:EIX)

Investment analysts at Bank of America started coverage on shares of Edison International (NYSE:EIX) in a research note issued to investors on Thursday, StockNewsAPI reports. The brokerage set a “buy” rating and a $95.00 price target on the utilities provider’s stock. Bank of America‘s target price suggests a potential upside of 12.77% from the company’s current price.

Several other brokerages also recently issued reports on EIX. Argus raised their price target on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday. Evercore ISI raised their price target on Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. Morgan Stanley raised their price target on Edison International from $62.00 to $68.00 and gave the company an “underweight” rating in a research report on Friday, August 23rd. UBS Group raised their price target on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Finally, Mizuho raised their price target on Edison International from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, May 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $84.67.

Edison International Trading Down 0.4 %

Edison International stock opened at $84.24 on Thursday. 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 $32.53 billion, a price-to-earnings ratio of 36.95 and a beta of 0.91. Edison International has a one year low of $58.82 and a one year high of $88.77. The company’s fifty day moving average price is $80.55 and its two-hundred day moving average price is $74.64.

Edison International (NYSE:EIX) last posted its earnings results on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.05 by $0.18. The firm had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.12 billion. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.01 earnings per share. On average, analysts forecast that Edison International will post 4.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO J Andrew Murphy sold 28,995 shares of Edison International stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $78.43, for a total value of $2,274,077.85. Following the completion of the transaction, the chief executive officer now owns 19,660 shares in the company, valued at $1,541,933.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Natalie K. Schilling sold 2,341 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total value of $187,280.00. Following the completion of the sale, the vice president now owns 6,338 shares of the company’s stock, valued at $507,040. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO J Andrew Murphy sold 28,995 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $78.43, for a total transaction of $2,274,077.85. Following the completion of the sale, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at approximately $1,541,933.80. The disclosure for this sale can be found here. Insiders sold a total of 89,099 shares of company stock worth $7,223,342 over the last quarter. Company insiders own 1.03% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Capital Research Global Investors raised its position in shares of Edison International by 23.0% in the 4th quarter. Capital Research Global Investors now owns 19,999,563 shares of the utilities provider’s stock valued at $1,429,769,000 after acquiring an additional 3,734,550 shares during the period. Norges Bank acquired a new stake in shares of Edison International in the 4th quarter valued at approximately $210,327,000. M&G Plc acquired a new stake in shares of Edison International in the 1st quarter valued at approximately $85,436,000. Capital International Investors raised its position in shares of Edison International by 6.4% in the 1st quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock valued at $940,562,000 after acquiring an additional 795,950 shares during the period. Finally, Morningstar Investment Services LLC raised its position in shares of Edison International by 98.1% in the 4th quarter. Morningstar Investment Services LLC now owns 1,347,664 shares of the utilities provider’s stock valued at $96,492,000 after acquiring an additional 667,273 shares during the period. 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.