Morgan Stanley Lowers Edison International (NYSE:EIX) Price Target to $48.00

Edison International (NYSE:EIX) had its price objective dropped by investment analysts at Morgan Stanley from $71.00 to $48.00 in a report released on Friday,Benzinga reports. The firm currently has an “underweight” rating on the utilities provider’s stock. Morgan Stanley’s price objective suggests a potential downside of 4.20% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective on the stock in a research note on Wednesday, January 15th. UBS Group decreased their price objective on Edison International from $87.00 to $69.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Wells Fargo & Company increased their target price on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. restated a “neutral” rating and set a $72.00 target price on shares of Edison International in a research report on Wednesday. Finally, Jefferies Financial Group assumed coverage on shares of Edison International in a research report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $80.39.

Edison International Stock Performance

Shares of NYSE:EIX opened at $50.11 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. Edison International has a 1-year low of $49.06 and a 1-year high of $88.77. The stock has a market capitalization of $19.40 billion, a P/E ratio of 14.69, a P/E/G ratio of 1.05 and a beta of 0.90. The business has a 50-day moving average price of $67.14 and a two-hundred day moving average price of $78.53.

Institutional Investors Weigh In On Edison International

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Edison International by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider’s stock worth $3,879,408,000 after purchasing an additional 1,559,501 shares in the last quarter. State Street Corp grew its holdings in shares of Edison International by 0.7% in the 3rd quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock valued at $2,834,774,000 after acquiring an additional 224,337 shares in the last quarter. FMR LLC grew its holdings in shares of Edison International by 8.7% in the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock valued at $1,898,638,000 after acquiring an additional 1,741,835 shares in the last quarter. Geode Capital Management LLC raised its holdings in Edison International by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 9,983,519 shares of the utilities provider’s stock worth $795,123,000 after acquiring an additional 362,999 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Edison International by 53.9% during the fourth quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider’s stock valued at $459,642,000 after purchasing an additional 2,016,017 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

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.