Morgan Stanley Issues Positive Forecast for Edison International (NYSE:EIX) Stock Price

Edison International (NYSE:EIX) had its price target hoisted by research analysts at Morgan Stanley from $48.00 to $52.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “underweight” rating on the utilities provider’s stock. Morgan Stanley’s price objective indicates a potential downside of 11.76% from the company’s previous close.

A number of other brokerages have also issued reports on EIX. Mizuho decreased their target price on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. The Goldman Sachs Group reduced their price objective on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Barclays reduced their price objective on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Wells Fargo & Company reduced their price objective on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $72.00 price objective on shares of Edison International in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.82.

Edison International Stock Up 0.7 %

Shares of NYSE:EIX traded up $0.43 during trading on Thursday, reaching $58.93. 381,946 shares of the company traded hands, compared to its average volume of 2,608,237. The firm has a fifty day simple moving average of $55.58 and a 200 day simple moving average of $73.91. The firm has a market cap of $22.69 billion, a P/E ratio of 17.28, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87. Edison International has a 1-year low of $49.06 and a 1-year high of $88.77. 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 issued its earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). The company had revenue of $17.60 billion for the quarter, compared to analyst estimates of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. Analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of EIX. Crews Bank & Trust bought a new position in Edison International in the 4th quarter worth $25,000. Groupama Asset Managment increased its holdings in shares of Edison International by 0.8% during the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 237 shares during the period. Larson Financial Group LLC increased its holdings in shares of Edison International by 125.0% during the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 195 shares during the period. Prospera Private Wealth LLC bought a new stake in Edison International in the third quarter valued at about $32,000. Finally, Sierra Ocean LLC bought a new stake in Edison International in the fourth quarter valued at about $33,000. 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.