StockNews.com Begins Coverage on Edison International (NYSE:EIX)

Stock analysts at StockNews.com initiated coverage on shares of Edison International (NYSE:EIX – Get Rating) in a research note issued to investors on Thursday. The firm set a “hold” rating on the utilities provider’s stock.

EIX has been the topic of several other research reports. Morgan Stanley lowered their price objective on shares of Edison International from $57.00 to $54.00 and set an “underweight” rating on the stock in a report on Wednesday, February 22nd. Wells Fargo & Company lowered shares of Edison International from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $76.00 to $73.00 in a research report on Wednesday, February 1st. JPMorgan Chase & Co. increased their target price on shares of Edison International from $72.00 to $74.00 and gave the stock a “neutral” rating in a research report on Thursday, February 2nd. UBS Group upgraded shares of Edison International from a “neutral” rating to a “buy” rating and increased their target price for the stock from $69.00 to $75.00 in a research report on Tuesday, January 3rd. Finally, Credit Suisse Group lowered their price target on shares of Edison International from $68.00 to $67.00 and set a “neutral” rating on the stock in a report on Friday, February 24th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Edison International presently has a consensus rating of “Hold” and a consensus price target of $69.64.

Edison International Stock Performance

Shares of EIX opened at $68.12 on Thursday. The company has a market cap of $26.06 billion, a PE ratio of 42.58, a price-to-earnings-growth ratio of 4.72 and a beta of 0.78. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.68 and a quick ratio of 0.64. The firm has a 50-day moving average of $67.41 and a 200-day moving average of $64.48. Edison International has a one year low of $54.45 and a one year high of $73.32.

Edison International (NYSE:EIX – Get Rating) last issued its earnings results on Thursday, February 23rd. The utilities provider reported $1.15 EPS for the quarter, beating the consensus estimate of $1.08 by $0.07. The company had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.61 billion. Edison International had a net margin of 4.48% and a return on equity of 12.05%. During the same period in the previous year, the company earned $1.16 EPS. As a group, equities analysts forecast that Edison International will post 4.72 earnings per share for the current year.

Institutional Trading of Edison International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Edison International by 2.8% in the third quarter. Vanguard Group Inc. now owns 46,704,150 shares of the utilities provider’s stock worth $2,642,521,000 after purchasing an additional 1,250,820 shares during the period. State Street Corp boosted its position in shares of Edison International by 2.0% in the third quarter. State Street Corp now owns 29,265,929 shares of the utilities provider’s stock worth $1,675,871,000 after purchasing an additional 562,352 shares during the period. Pzena Investment Management LLC boosted its position in shares of Edison International by 1.5% in the fourth quarter. Pzena Investment Management LLC now owns 13,619,885 shares of the utilities provider’s stock worth $866,497,000 after purchasing an additional 201,583 shares during the period. Geode Capital Management LLC boosted its position in shares of Edison International by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 8,113,651 shares of the utilities provider’s stock worth $515,289,000 after purchasing an additional 106,738 shares during the period. Finally, Deutsche Bank AG boosted its position in shares of Edison International by 8.1% in the second quarter. Deutsche Bank AG now owns 6,822,323 shares of the utilities provider’s stock worth $431,444,000 after purchasing an additional 511,305 shares during the period. 87.19% of the stock is owned by hedge funds and other institutional investors.

Edison International Company Profile

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Edison International is a renewable energy company, which through its subsidiaries, generates and distributes electric power, and invests in energy services and technologies. The company was founded on July 4, 1886, and is headquartered in Rosemead, CA.