Edison International (EIX) Price Target Raised to $75.00

Edison International (NYSE:EIX) had its price target boosted by equities research analysts at Wells Fargo & Co from $65.00 to $75.00 in a research report issued to clients and investors on Monday, BenzingaRatingsTable reports. The brokerage presently has a “market perform” rating on the utilities provider’s stock. Wells Fargo & Co‘s price objective would suggest a potential upside of 14.33% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on EIX. Zacks Investment Research downgraded Edison International from a “hold” rating to a “sell” rating in a report on Monday. SunTrust Banks boosted their price target on Edison International to $77.00 and gave the company a “positive” rating in a report on Monday. Barclays restated a “hold” rating and set a $65.00 price objective on shares of Edison International in a research report on Friday, February 15th. Mizuho boosted their price objective on Edison International from $57.00 to $66.50 and gave the company a “buy” rating in a research report on Thursday, March 14th. Finally, Citigroup boosted their price objective on Edison International to $64.00 and gave the company a “buy” rating in a research report on Thursday, January 24th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $70.14.

Shares of NYSE EIX traded down $1.53 during trading on Monday, reaching $65.60. The stock had a trading volume of 2,673,113 shares, compared to its average volume of 2,147,631. Edison International has a one year low of $45.50 and a one year high of $71.00. The company has a current ratio of 0.62, a quick ratio of 0.57 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $20.40 billion, a price-to-earnings ratio of 15.81, a price-to-earnings-growth ratio of 2.45 and a beta of -0.06.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, February 28th. The utilities provider reported $0.94 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.06). Edison International had a negative net margin of 2.45% and a positive return on equity of 10.47%. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter last year, the firm posted $1.10 earnings per share. As a group, equities analysts predict that Edison International will post 4.53 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the business. Commonwealth Bank of Australia lifted its holdings in shares of Edison International by 14.3% in the fourth quarter. Commonwealth Bank of Australia now owns 59,509 shares of the utilities provider’s stock valued at $3,372,000 after buying an additional 7,428 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of Edison International by 3.9% in the fourth quarter. State of Alaska Department of Revenue now owns 96,634 shares of the utilities provider’s stock valued at $5,484,000 after buying an additional 3,629 shares during the period. Advisor Group Inc. lifted its holdings in shares of Edison International by 32.0% in the fourth quarter. Advisor Group Inc. now owns 12,930 shares of the utilities provider’s stock valued at $734,000 after buying an additional 3,138 shares during the period. KBC Group NV lifted its holdings in shares of Edison International by 222.6% in the fourth quarter. KBC Group NV now owns 115,350 shares of the utilities provider’s stock valued at $6,549,000 after buying an additional 79,599 shares during the period. Finally, Perella Weinberg Partners Capital Management LP acquired a new stake in shares of Edison International in the fourth quarter valued at $662,000. Institutional investors own 84.82% of the company’s stock.

About Edison International

Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.

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Analyst Recommendations for Edison International (NYSE:EIX)

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