Edison International (NYSE:EIX) Upgraded by LADENBURG THALM/SH SH to Neutral Rating

Edison International (NYSE:EIX) was upgraded by analysts at LADENBURG THALM/SH SH from a “sell” rating to a “neutral” rating in a report released on Wednesday, MarketBeat Ratings reports. The firm currently has a $56.50 price objective on the utilities provider’s stock. LADENBURG THALM/SH SH’s price objective would indicate a potential downside of 7.62% from the stock’s current price.

Several other research analysts have also issued reports on the company. Royal Bank of Canada upped their target price on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Morgan Stanley cut their price objective on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Barclays lowered their target price on shares of Edison International from $84.00 to $76.00 and set an “overweight” rating for the company in a research note on Monday. Wells Fargo & Company upped their price target on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group assumed coverage on shares of Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.58.

Edison International Stock Down 0.2 %

Shares of Edison International stock opened at $61.16 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The company has a market cap of $23.68 billion, a P/E ratio of 17.94, a PEG ratio of 1.34 and a beta of 0.93. The firm’s 50 day moving average price is $80.31 and its 200-day moving average price is $81.48. Edison International has a 52-week low of $55.27 and a 52-week high of $88.77.

Edison International (NYSE:EIX) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.13. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.38 earnings per share. On average, sell-side analysts predict that Edison International will post 4.94 EPS for the current fiscal year.

Insider Buying and Selling at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of EIX. Lake Street Advisors Group LLC increased its holdings in shares of Edison International by 4.3% during the 3rd quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock valued at $263,000 after purchasing an additional 124 shares in the last quarter. Baker Tilly Wealth Management LLC grew its position in Edison International by 2.8% during the third quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock valued at $416,000 after buying an additional 129 shares during the period. SFE Investment Counsel increased its holdings in Edison International by 0.3% in the third quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock valued at $3,721,000 after buying an additional 130 shares in the last quarter. Assetmark Inc. raised its position in shares of Edison International by 32.9% in the third quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock worth $55,000 after acquiring an additional 157 shares during the period. Finally, Dynamic Advisor Solutions LLC grew its position in shares of Edison International by 2.1% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 7,697 shares of the utilities provider’s stock valued at $670,000 after acquiring an additional 159 shares during the period. 88.95% of the stock is owned by institutional investors and hedge funds.

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.