Edison International (NYSE:EIX) Rating Lowered to “Peer Perform” at Wolfe Research

Edison International (NYSE:EIX) was downgraded by stock analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating in a note issued to investors on Monday, MarketBeat.com reports.

Several other analysts also recently weighed in on the company. Barclays lifted their target price on Edison International from $64.00 to $67.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Mizuho cut their price objective on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Morgan Stanley set a $52.00 target price on shares of Edison International and gave the company an “underweight” rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. lowered their target price on shares of Edison International from $75.00 to $71.00 and set a “neutral” rating on the stock in a research note on Monday, May 19th. Finally, Wells Fargo & Company dropped their price target on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Edison International currently has an average rating of “Moderate Buy” and an average target price of $76.89.

Edison International Stock Up 0.2%

EIX stock opened at $53.73 on Monday. The firm has a market cap of $20.67 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 1.07 and a beta of 0.78. Edison International has a 1-year low of $49.06 and a 1-year high of $88.77. The firm has a fifty day moving average price of $56.22 and a two-hundred day moving average price of $62.22. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.16. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $4.29 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same period last year, the company earned $1.13 earnings per share. Research analysts predict that Edison International will post 4.95 EPS for the current year.

Institutional Trading of Edison International

Institutional investors and hedge funds have recently made changes to their positions in the stock. Rakuten Securities Inc. raised its holdings in Edison International by 4,633.3% in the 1st quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 417 shares during the period. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Edison International in the first quarter worth about $25,000. Investment Management Corp VA ADV lifted its position in shares of Edison International by 159.6% during the 1st quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 265 shares during the last quarter. Sierra Ocean LLC bought a new stake in Edison International during the 4th quarter valued at approximately $33,000. Finally, Bellwether Advisors LLC bought a new stake in Edison International during the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

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.