Edison International (NYSE:EIX) Lowered to Peer Perform Rating by Wolfe Research

Edison International (NYSE:EIX - Get Free Report) was downgraded by equities research analysts at Wolfe Research from an "outperform" rating to a "peer perform" rating in a research report issued to clients and investors on Monday, Marketbeat Ratings reports.

Several other equities analysts also recently weighed in on EIX. The Goldman Sachs Group decreased their target price on Edison International from $88.00 to $68.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Morgan Stanley set a $52.00 target price on shares of Edison International and gave the stock an "underweight" rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. dropped their target price on shares of Edison International from $75.00 to $71.00 and set a "neutral" rating for the company in a report on Monday, May 19th. Evercore ISI reissued an "outperform" rating on shares of Edison International in a research note on Thursday, May 15th. Finally, Wells Fargo & Company dropped their price objective 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $76.89.

Edison International Price Performance

NYSE:EIX opened at $53.73 on Monday. The stock has a market capitalization of $20.67 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 1.07 and a beta of 0.78. The stock's 50-day moving average price is $56.22 and its 200-day moving average price is $62.22. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. Edison International has a 52 week low of $49.06 and a 52 week high of $88.77.

Edison International (NYSE:EIX - Get Free Report) last released 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 during the quarter, compared to analysts' expectations of $4.29 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company's quarterly revenue was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.13 earnings per share. As a group, equities analysts expect that Edison International will post 4.95 EPS for the current fiscal year.

Hedge Funds Weigh In On Edison International

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Edison International by 1.0% in the first quarter. Vanguard Group Inc. now owns 49,083,555 shares of the utilities provider's stock valued at $2,892,003,000 after purchasing an additional 493,778 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Edison International by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 9,983,519 shares of the utilities provider's stock valued at $795,123,000 after buying an additional 362,999 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Edison International by 19.8% during the 1st quarter. Invesco Ltd. now owns 5,770,535 shares of the utilities provider's stock valued at $340,000,000 after buying an additional 953,897 shares during the last quarter. Northern Trust Corp grew its position in shares of Edison International by 53.9% during the fourth quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider's stock worth $459,642,000 after buying an additional 2,016,017 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Edison International by 111.6% in the first quarter. JPMorgan Chase & Co. now owns 5,663,427 shares of the utilities provider's stock worth $333,689,000 after buying an additional 2,987,318 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company's stock.

About Edison International

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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