Royal Bank of Canada Raises Edison International (NYSE:EIX) Price Target to $100.00

Edison International (NYSE:EIX) had its price objective increased by analysts at Royal Bank of Canada from $94.00 to $100.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the utilities provider’s stock. Royal Bank of Canada’s target price points to a potential upside of 16.04% from the stock’s previous close.

Several other equities research analysts also recently weighed in on EIX. Argus raised their target price on shares of Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. UBS Group boosted their target price on Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Morgan Stanley increased their price target on Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a research note on Wednesday, September 25th. Bank of America started coverage on Edison International in a research note on Thursday, September 12th. They set a “buy” rating and a $95.00 price target on the stock. Finally, Evercore ISI boosted their price target on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $86.67.

Edison International Price Performance

NYSE EIX opened at $86.18 on Friday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03. The firm’s 50 day moving average price is $84.56 and its 200-day moving average price is $76.75. Edison International has a 52-week low of $58.82 and a 52-week high of $88.77. The company has a market cap of $33.28 billion, a PE ratio of 37.80, a P/E/G ratio of 2.02 and a beta of 0.91.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The business had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same period in the previous year, the company posted $1.01 earnings per share. The firm’s revenue was up 9.4% on a year-over-year basis. Sell-side analysts forecast that Edison International will post 4.97 EPS for the current fiscal year.

Insider Transactions at Edison International

In related news, CEO J Andrew Murphy sold 32,505 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.12, for a total transaction of $2,604,300.60. Following the completion of the transaction, the chief executive officer now directly owns 19,660 shares in the company, valued at $1,575,159.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Edison International news, VP Natalie K. Schilling sold 2,341 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total value of $187,280.00. Following the sale, the vice president now owns 6,338 shares in the company, valued at approximately $507,040. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO J Andrew Murphy sold 32,505 shares of Edison International stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $80.12, for a total transaction of $2,604,300.60. Following the transaction, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at approximately $1,575,159.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 89,099 shares of company stock worth $7,223,342 over the last 90 days. 1.03% of the stock is currently owned by company insiders.

Institutional Trading of Edison International

A number of hedge funds have recently added to or reduced their stakes in the company. Able Wealth Management LLC acquired a new position in shares of Edison International in the fourth quarter worth about $25,000. Ashton Thomas Private Wealth LLC acquired a new position in Edison International in the 2nd quarter worth about $27,000. Global Trust Asset Management LLC purchased a new position in Edison International during the first quarter worth approximately $28,000. Country Trust Bank acquired a new stake in Edison International in the second quarter valued at approximately $29,000. Finally, Farmers & Merchants Investments Inc. increased its position in shares of Edison International by 53.8% in the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after buying an additional 140 shares in the last quarter. 88.95% of the stock is 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.