Edison International (NYSE:EIX) had its target price decreased by stock analysts at Morgan Stanley from $76.00 to $71.00 in a report released on Tuesday, February 13th. The brokerage presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price target would suggest a potential upside of 15.00% from the company’s current price.
Other analysts have also issued research reports about the company. SunTrust Banks restated a “buy” rating and issued a $85.00 target price on shares of Edison International in a report on Thursday, December 7th. Goldman Sachs Group set a $70.00 price target on shares of Edison International and gave the stock a “hold” rating in a research note on Friday, December 15th. Mizuho downgraded shares of Edison International from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 6th. ValuEngine raised shares of Edison International from a “hold” rating to a “buy” rating in a research report on Wednesday, November 15th. Finally, Citigroup set a $87.00 target price on shares of Edison International and gave the stock a “hold” rating in a research report on Tuesday, December 12th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company’s stock. Edison International currently has a consensus rating of “Hold” and an average price target of $77.21.
Shares of Edison International (EIX) opened at $61.74 on Tuesday. The firm has a market capitalization of $19,252.18, a P/E ratio of 13.49, a price-to-earnings-growth ratio of 2.18 and a beta of 0.17. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.51 and a quick ratio of 0.47. Edison International has a 52-week low of $57.63 and a 52-week high of $83.38.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. FDx Advisors Inc. lifted its stake in Edison International by 16.5% during the third quarter. FDx Advisors Inc. now owns 4,602 shares of the utilities provider’s stock worth $355,000 after purchasing an additional 653 shares during the period. Amalgamated Bank increased its holdings in shares of Edison International by 1.9% during the third quarter. Amalgamated Bank now owns 36,581 shares of the utilities provider’s stock worth $2,823,000 after buying an additional 679 shares in the last quarter. Eqis Capital Management Inc. increased its holdings in shares of Edison International by 9.2% during the third quarter. Eqis Capital Management Inc. now owns 8,290 shares of the utilities provider’s stock worth $640,000 after buying an additional 698 shares in the last quarter. Norinchukin Bank The increased its holdings in shares of Edison International by 2.9% during the third quarter. Norinchukin Bank The now owns 25,949 shares of the utilities provider’s stock worth $2,002,000 after buying an additional 738 shares in the last quarter. Finally, Pacer Advisors Inc. increased its holdings in shares of Edison International by 10.6% during the third quarter. Pacer Advisors Inc. now owns 7,728 shares of the utilities provider’s stock worth $596,000 after buying an additional 741 shares in the last quarter. Hedge funds and other institutional investors own 80.57% 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.
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