Edison International (NYSE:EIX)‘s stock had its “buy” rating reiterated by investment analysts at SunTrust Banks, Inc. in a research report issued to clients and investors on Monday. They presently have a $89.00 price objective on the utilities provider’s stock. SunTrust Banks, Inc.’s target price points to a potential upside of 11.99% from the company’s current price.
A number of other equities research analysts have also weighed in on the company. Bank of America Corporation restated a “buy” rating and set a $86.00 price target on shares of Edison International in a research note on Tuesday, October 24th. Citigroup Inc. boosted their price target on Edison International from $84.00 to $87.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 17th. Mizuho restated a “buy” rating and set a $86.00 price target on shares of Edison International in a research note on Monday, October 9th. Royal Bank Of Canada restated a “buy” rating and set a $84.00 price target on shares of Edison International in a research note on Sunday, September 17th. Finally, Morgan Stanley boosted their price target on Edison International from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Friday, September 8th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $85.08.
Shares of Edison International (NYSE:EIX) traded up 0.11% during mid-day trading on Monday, reaching $79.56. 604,459 shares of the company traded hands. The firm has a 50 day moving average of $78.95 and a 200-day moving average of $79.42. The stock has a market capitalization of $25.92 billion, a PE ratio of 18.81 and a beta of 0.22. Edison International has a 52 week low of $67.44 and a 52 week high of $82.82.
Edison International (NYSE:EIX) last posted its earnings results on Thursday, July 27th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.85. Edison International had a return on equity of 10.58% and a net margin of 12.64%. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the previous year, the firm earned $0.85 earnings per share. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. On average, equities research analysts expect that Edison International will post $4.23 EPS for the current fiscal year.
In related news, insider Ronald L. Litzinger sold 224,715 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $80.54, for a total value of $18,098,546.10. Following the sale, the insider now owns 14,121 shares in the company, valued at $1,137,305.34. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.41% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Baillie Gifford & Co. boosted its position in Edison International by 0.8% in the third quarter. Baillie Gifford & Co. now owns 263,680 shares of the utilities provider’s stock valued at $20,348,000 after buying an additional 2,085 shares during the last quarter. Victory Capital Management Inc. boosted its position in Edison International by 19.3% in the third quarter. Victory Capital Management Inc. now owns 79,629 shares of the utilities provider’s stock valued at $6,145,000 after buying an additional 12,888 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in Edison International in the third quarter valued at approximately $2,432,000. Calamos Advisors LLC boosted its position in Edison International by 3.5% in the third quarter. Calamos Advisors LLC now owns 55,121 shares of the utilities provider’s stock valued at $4,254,000 after buying an additional 1,876 shares during the last quarter. Finally, Regentatlantic Capital LLC boosted its position in Edison International by 5.0% in the third quarter. Regentatlantic Capital LLC now owns 20,686 shares of the utilities provider’s stock valued at $1,596,000 after buying an additional 987 shares during the last quarter. Hedge funds and other institutional investors own 81.63% of the company’s stock.
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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