Edison International (NYSE:EIX) Given New $51.00 Price Target at Morgan Stanley

Edison International (NYSE:EIX - Get Free Report) had its price target decreased by analysts at Morgan Stanley from $52.00 to $51.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an "underweight" rating on the utilities provider's stock. Morgan Stanley's target price would indicate a potential upside of 3.22% from the company's previous close.

EIX has been the topic of a number of other reports. JPMorgan Chase & Co. lowered their target price on shares of Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a research report on Monday, May 19th. Mizuho lowered their price objective on shares of Edison International from $75.00 to $66.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. Evercore ISI restated an "outperform" rating on shares of Edison International in a research note on Thursday, May 15th. Wells Fargo & Company decreased their target price on shares of Edison International from $94.00 to $75.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Finally, Wolfe Research lowered Edison International from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $76.82.

Edison International Stock Up 0.4%

NYSE:EIX traded up $0.21 during midday trading on Wednesday, hitting $49.41. 1,276,566 shares of the company were exchanged, compared to its average volume of 3,201,172. The company has a current ratio of 0.96, a quick ratio of 0.89 and a debt-to-equity ratio of 2.06. Edison International has a fifty-two week low of $47.73 and a fifty-two week high of $88.77. The company has a market capitalization of $19.01 billion, a PE ratio of 7.01, a price-to-earnings-growth ratio of 1.14 and a beta of 0.78. The company has a fifty day simple moving average of $55.38 and a 200 day simple moving average of $60.53.

Edison International (NYSE:EIX - Get Free Report) last posted its earnings results on Tuesday, April 29th. The utilities provider reported $1.37 EPS for the quarter, topping analysts' consensus estimates of $1.21 by $0.16. The business had revenue of $3.81 billion for the quarter, compared to analysts' expectations of $4.29 billion. Edison International had a return on equity of 13.21% and a net margin of 16.84%. The business's revenue was down 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.13 earnings per share. As a group, equities analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Edison International

Several institutional investors have recently made changes to their positions in EIX. Whittier Trust Co. lifted its stake in shares of Edison International by 4.9% in the fourth quarter. Whittier Trust Co. now owns 4,295 shares of the utilities provider's stock valued at $343,000 after purchasing an additional 200 shares during the period. Empowered Funds LLC increased its holdings in Edison International by 2.4% in 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 in the last quarter. Vontobel Holding Ltd. lifted its position in shares of Edison International by 5.0% during the 4th quarter. Vontobel Holding Ltd. now owns 4,579 shares of the utilities provider's stock valued at $366,000 after acquiring an additional 216 shares during the period. FSB Premier Wealth Management Inc. boosted its stake in shares of Edison International by 5.2% during the 4th quarter. FSB Premier Wealth Management Inc. now owns 4,403 shares of the utilities provider's stock worth $352,000 after acquiring an additional 217 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Edison International by 0.4% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 54,673 shares of the utilities provider's stock worth $4,365,000 after acquiring an additional 218 shares during the period. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

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.

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