Barclays Boosts Edison International (NYSE:EIX) Price Target to $75.00

Edison International (NYSE:EIX) had its target price raised by equities researchers at Barclays from $72.00 to $75.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s target price would suggest a potential upside of 3.68% from the company’s current price.

Several other brokerages have also recently issued reports on EIX. Guggenheim upgraded Edison International from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $66.00 to $84.00 in a research note on Monday, January 22nd. The Goldman Sachs Group began coverage on Edison International in a report on Wednesday, April 10th. They set a “neutral” rating and a $78.00 target price on the stock. StockNews.com raised Edison International from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. Royal Bank of Canada dropped their target price on Edison International from $81.00 to $80.00 and set an “outperform” rating on the stock in a report on Thursday, March 7th. Finally, Mizuho dropped their target price on Edison International from $76.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, Edison International currently has an average rating of “Hold” and an average price target of $74.10.

Edison International Stock Up 0.5 %

Edison International stock traded up $0.37 during midday trading on Thursday, reaching $72.34. The company’s stock had a trading volume of 1,476,177 shares, compared to its average volume of 1,983,937. The stock’s 50-day simple moving average is $69.33 and its 200-day simple moving average is $67.89. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.00 and a quick ratio of 0.73. Edison International has a 52-week low of $58.82 and a 52-week high of $74.40. The stock has a market capitalization of $27.83 billion, a P/E ratio of 31.73 and a beta of 0.95.

Edison International (NYSE:EIX) last released its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.01. Edison International had a return on equity of 12.48% and a net margin of 6.14%. The company had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.16 billion. During the same period last year, the business posted $1.09 earnings per share. The firm’s revenue was up 2.8% compared to the same quarter last year. On average, sell-side analysts expect that Edison International will post 4.92 EPS for the current year.

Institutional Trading of Edison International

Large investors have recently made changes to their positions in the company. Able Wealth Management LLC purchased a new stake in shares of Edison International during the fourth quarter worth approximately $25,000. Bruce G. Allen Investments LLC acquired a new position in Edison International during the fourth quarter worth $27,000. Global Trust Asset Management LLC acquired a new position in Edison International during the first quarter worth $28,000. WASHINGTON TRUST Co boosted its stake in Edison International by 117.4% during the fourth quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock worth $36,000 after buying an additional 270 shares during the last quarter. Finally, Northwest Financial Advisors acquired a new position in Edison International during the fourth quarter worth $40,000. 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.