Edison International (EIX) Given New $71.00 Price Target at Morgan Stanley
Edison International (NYSE:EIX) had its price objective dropped by research analysts at Morgan Stanley from $76.00 to $71.00 in a research report issued to clients and investors on Tuesday. The brokerage presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price target would suggest a potential upside of 18.22% from the company’s current price.
Other equities research analysts also recently issued research reports about the company. SunTrust Banks reiterated a “buy” rating and issued a $85.00 price objective on shares of Edison International in a research report on Thursday, December 7th. Goldman Sachs Group set a $70.00 price objective on Edison International and gave the stock a “hold” rating in a research report on Friday, December 15th. Mizuho downgraded Edison International from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 6th. ValuEngine upgraded Edison International from a “hold” rating to a “buy” rating in a research report on Wednesday, November 15th. Finally, Citigroup set a $87.00 price objective on Edison International and gave the stock a “hold” rating in a research report on Tuesday, December 12th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $77.21.
Shares of Edison International (NYSE EIX) opened at $60.06 on Tuesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.51 and a quick ratio of 0.47. Edison International has a 12-month low of $57.63 and a 12-month high of $83.38. The stock has a market capitalization of $19,203.31, a price-to-earnings ratio of 13.56, a P/E/G ratio of 2.17 and a beta of 0.17.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Maple Brown Abbott Ltd purchased a new stake in Edison International during the fourth quarter valued at about $1,192,752,000. BlackRock Inc. raised its position in Edison International by 7.4% during the fourth quarter. BlackRock Inc. now owns 26,746,136 shares of the utilities provider’s stock valued at $1,691,424,000 after purchasing an additional 1,832,822 shares in the last quarter. Legal & General Group Plc raised its position in Edison International by 5.8% during the third quarter. Legal & General Group Plc now owns 2,750,911 shares of the utilities provider’s stock valued at $212,288,000 after purchasing an additional 149,780 shares in the last quarter. Wells Fargo & Company MN raised its position in Edison International by 2.6% during the fourth quarter. Wells Fargo & Company MN now owns 2,640,821 shares of the utilities provider’s stock valued at $167,006,000 after purchasing an additional 67,884 shares in the last quarter. Finally, Brookfield Asset Management Inc. raised its position in Edison International by 14.8% during the second quarter. Brookfield Asset Management Inc. now owns 2,284,007 shares of the utilities provider’s stock valued at $178,587,000 after purchasing an additional 294,030 shares in the last quarter. Institutional investors and hedge funds own 79.43% of the company’s stock.
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About Edison International
Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.
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