Edison International (NYSE:EIX) Coverage Initiated at Jefferies Financial Group

Investment analysts at Jefferies Financial Group initiated coverage on shares of Edison International (NYSE:EIX) in a report issued on Thursday, Briefing.com reports. The brokerage set a “buy” rating and a $93.00 price target on the utilities provider’s stock. Jefferies Financial Group’s target price suggests a potential upside of 14.59% from the stock’s current price.

Several other research analysts also recently issued reports on the company. Guggenheim lifted their price target on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. UBS Group upped their price target on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Bank of America began coverage on shares of Edison International in a research note on Thursday, September 12th. They set a “buy” rating and a $95.00 price objective for the company. Evercore ISI increased their price objective on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Finally, Wells Fargo & Company boosted their price objective 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.75.

Edison International Trading Down 1.0 %

NYSE EIX opened at $81.16 on Thursday. Edison International has a 52-week low of $62.21 and a 52-week high of $88.77. The firm has a 50-day moving average price of $85.17 and a 200 day moving average price of $79.08. The stock has a market capitalization of $31.42 billion, a P/E ratio of 23.80, a P/E/G ratio of 1.88 and a beta of 0.92. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. During the same quarter in the prior year, the company posted $1.38 earnings per share. Edison International’s quarterly revenue was up 10.6% on a year-over-year basis. Equities research analysts expect that Edison International will post 4.94 EPS for the current year.

Insiders Place Their Bets

In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the transaction, the chief executive officer now owns 19,850 shares of the company’s stock, valued at $1,696,182.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO J Andrew Murphy sold 23,896 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $85.45, for a total value of $2,041,913.20. Following the transaction, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at $1,696,182.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,878 shares of company stock valued at $4,285,422 in the last ninety days. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Edison International

A number of hedge funds have recently added to or reduced their stakes in the stock. Highline Wealth Partners LLC acquired a new position in Edison International during the 3rd quarter valued at about $26,000. Ashton Thomas Private Wealth LLC bought a new stake in Edison International during the 2nd quarter valued at $27,000. Eastern Bank bought a new stake in Edison International during the third quarter worth approximately $27,000. Country Trust Bank bought a new position in Edison International during the 2nd quarter valued at $29,000. Finally, Farmers & Merchants Investments Inc. increased its position in shares of Edison International by 53.8% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 140 shares during the period. 88.95% of the stock is currently owned by institutional investors.

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.