Edison International (EIX) Stock Rating Upgraded by Zacks Investment Research

Edison International (NYSE:EIX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday.

According to Zacks, “Edison International enjoys a strong portfolio of regulated utility assets and well-managed merchant energy operations, presents a lower risk profile than its utility-only peers. A stable financial position enables Edison International to maximize shareholder value through the payment of regular dividends. However, the company's performance are subject to approvals from regulatory bodies like California Public Utilities Commission (CPUC) and Federal Energy Regulatory Commission (FERC). Moreover adverse decision taken by ORA in April, on SCE’s 2018 General Rate Case will affect the utility's earnings growth. Further, the company's share price has underperformed the broader industry’s price over a year. “

EIX has been the topic of a number of other research reports. Edward Jones cut Edison International from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. Morgan Stanley lowered their target price on Edison International from $96.00 to $82.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 13th. Royal Bank of Canada reiterated a “buy” rating and set a $74.00 target price on shares of Edison International in a report on Friday, December 22nd. Citigroup increased their target price on Edison International from $84.00 to $87.00 and gave the company a “neutral” rating in a report on Tuesday, October 17th. Finally, Mizuho reiterated a “buy” rating and set a $86.00 target price on shares of Edison International in a report on Monday, October 9th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company’s stock. Edison International presently has an average rating of “Hold” and an average price target of $81.00.

Shares of Edison International (NYSE EIX) opened at $62.12 on Friday. The company has a market capitalization of $20,240.00, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 2.28 and a beta of 0.24. The company has a current ratio of 0.51, a quick ratio of 0.47 and a debt-to-equity ratio of 0.80. Edison International has a fifty-two week low of $60.64 and a fifty-two week high of $83.38.

Edison International (NYSE:EIX) last announced its earnings results on Monday, October 30th. The utilities provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.10. The firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.53 billion. Edison International had a return on equity of 10.84% and a net margin of 13.18%. Edison International’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.29 EPS. equities research analysts forecast that Edison International will post 4.32 earnings per share for the current year.

In other news, insider Ronald L. Litzinger sold 224,718 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $82.00, for a total transaction of $18,426,876.00. Following the sale, the insider now owns 14,121 shares in the company, valued at $1,157,922. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.41% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the company. Amica Retiree Medical Trust acquired a new position in Edison International in the third quarter valued at $138,000. First Command Financial Services Inc. acquired a new position in Edison International in the fourth quarter valued at $154,000. Sun Life Financial INC boosted its holdings in Edison International by 16,935.7% in the second quarter. Sun Life Financial INC now owns 2,385 shares of the utilities provider’s stock valued at $186,000 after acquiring an additional 2,371 shares during the last quarter. TCI Wealth Advisors Inc. boosted its holdings in Edison International by 139.7% in the third quarter. TCI Wealth Advisors Inc. now owns 2,630 shares of the utilities provider’s stock valued at $203,000 after acquiring an additional 1,533 shares during the last quarter. Finally, OxFORD Asset Management LLP acquired a new position in Edison International in the second quarter valued at $204,000. Institutional investors and hedge funds own 81.15% of the company’s stock.

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Edison International Company Profile

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.

Analyst Recommendations for Edison International (NYSE:EIX)

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