JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Edison International (NYSE:EIX) Stock

Edison International (NYSE:EIX) had its target price boosted by equities researchers at JPMorgan Chase & Co. from $65.00 to $66.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 6.14% from the stock’s current price.

A number of other brokerages also recently commented on EIX. Weiss Ratings restated a “hold (c)” rating on shares of Edison International in a research report on Monday, December 29th. Barclays cut their price target on shares of Edison International from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Thursday, January 22nd. TD Cowen started coverage on shares of Edison International in a research report on Thursday, October 16th. They issued a “buy” rating and a $71.00 price objective for the company. UBS Group reiterated a “buy” rating on shares of Edison International in a research report on Friday, January 16th. Finally, Jefferies Financial Group increased their target price on Edison International from $57.00 to $59.00 and gave the stock a “hold” rating in a research note on Wednesday, October 22nd. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $63.30.

Edison International Stock Down 0.7%

Shares of Edison International stock traded down $0.45 during trading hours on Wednesday, hitting $62.18. The company had a trading volume of 859,254 shares, compared to its average volume of 2,944,173. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.82 and a quick ratio of 0.76. The company’s 50-day moving average is $59.55 and its two-hundred day moving average is $56.65. The company has a market cap of $23.93 billion, a P/E ratio of 8.13, a price-to-earnings-growth ratio of 0.90 and a beta of 0.83. Edison International has a twelve month low of $47.73 and a twelve month high of $63.19.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $2.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.18. Edison International had a net margin of 17.24% and a return on equity of 13.62%. The company had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.31 billion. During the same period last year, the firm posted $1.51 EPS. Edison International’s revenue for the quarter was up 10.6% on a year-over-year basis. Analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Peter J. Taylor sold 1,800 shares of the business’s stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $55.27, for a total value of $99,486.00. Following the completion of the transaction, the director directly owned 35,212 shares of the company’s stock, valued at $1,946,167.24. The trade was a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.20% of the company’s stock.

Institutional Trading of Edison International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. LVW Advisors LLC lifted its holdings in Edison International by 4.6% in the 4th quarter. LVW Advisors LLC now owns 4,224 shares of the utilities provider’s stock valued at $254,000 after purchasing an additional 186 shares in the last quarter. Diligent Investors LLC raised its position in shares of Edison International by 1.5% in the third quarter. Diligent Investors LLC now owns 13,895 shares of the utilities provider’s stock valued at $768,000 after buying an additional 201 shares during the last quarter. MAI Capital Management raised its position in shares of Edison International by 20.8% in the second quarter. MAI Capital Management now owns 1,172 shares of the utilities provider’s stock valued at $60,000 after buying an additional 202 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Edison International by 2.4% during the first quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider’s stock valued at $523,000 after buying an additional 211 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its position in Edison International by 0.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 73,809 shares of the utilities provider’s stock worth $3,818,000 after acquiring an additional 213 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Company Profile

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.