Equities research analysts at JPMorgan Chase & Co. started coverage on shares of Edison International (NYSE:EIX) in a research report issued to clients and investors on Friday. The firm set a “neutral” rating and a $67.00 price target on the utilities provider’s stock. JPMorgan Chase & Co.’s price objective would indicate a potential upside of 9.08% from the company’s previous close.
EIX has been the subject of a number of other reports. Edward Jones cut shares of Edison International from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Royal Bank of Canada reissued a “buy” rating and issued a $84.00 price target on shares of Edison International in a research report on Sunday, September 17th. Morgan Stanley dropped their price target on shares of Edison International from $96.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 13th. Citigroup lifted their price target on shares of Edison International from $84.00 to $87.00 and gave the company a “neutral” rating in a research report on Tuesday, October 17th. Finally, Mizuho reissued a “buy” rating and issued a $86.00 price target on shares of Edison International in a research report on Monday, October 9th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $80.67.
Shares of Edison International (NYSE EIX) opened at $61.42 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.51 and a quick ratio of 0.47. The stock has a market cap of $20,010.00, a P/E ratio of 14.02, a price-to-earnings-growth ratio of 2.26 and a beta of 0.24. Edison International has a one year low of $61.25 and a one year high of $83.38.
Edison International (NYSE:EIX) last posted its earnings results on Monday, October 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.10. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.53 billion. Edison International had a net margin of 13.18% and a return on equity of 10.84%. The company’s revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.29 earnings per share. equities research analysts predict that Edison International will post 4.33 EPS for the current fiscal year.
In related news, insider Ronald L. Litzinger sold 224,718 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $82.00, for a total transaction of $18,426,876.00. Following the transaction, the insider now owns 14,121 shares of the company’s stock, valued at $1,157,922. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.41% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Amica Retiree Medical Trust bought a new position in Edison International during the third quarter worth $138,000. Sun Life Financial INC increased its position in Edison International by 16,935.7% during the second quarter. Sun Life Financial INC now owns 2,385 shares of the utilities provider’s stock worth $186,000 after acquiring an additional 2,371 shares during the period. First Command Financial Services Inc. bought a new position in Edison International during the fourth quarter worth $154,000. OxFORD Asset Management LLP bought a new position in Edison International during the second quarter worth $204,000. Finally, TCI Wealth Advisors Inc. increased its position in Edison International by 139.7% during the third quarter. TCI Wealth Advisors Inc. now owns 2,630 shares of the utilities provider’s stock worth $203,000 after acquiring an additional 1,533 shares during the period. 81.14% of the stock is currently owned by institutional investors and hedge funds.
About Edison International
Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.
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