Wells Fargo & Company Cuts Edison International (NYSE:EIX) Price Target to $75.00

Edison International (NYSE:EIX) had its price objective decreased by equities researchers at Wells Fargo & Company from $94.00 to $75.00 in a report released on Friday,Benzinga reports. The firm currently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 36.34% from the company’s current price.

EIX has been the topic of a number of other reports. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $72.00 price objective on shares of Edison International in a research note on Wednesday, February 12th. Barclays decreased their price target on Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. UBS Group upgraded shares of Edison International from a “neutral” rating to a “buy” rating and cut their price objective for the company from $69.00 to $65.00 in a research report on Tuesday, February 18th. LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective for the company in a research note on Wednesday, January 15th. Finally, Jefferies Financial Group assumed coverage on shares of Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.75.

Edison International Stock Performance

NYSE:EIX traded up $3.67 on Friday, reaching $55.01. 3,676,396 shares of the company’s stock were exchanged, compared to its average volume of 6,273,575. The firm has a market cap of $21.30 billion, a price-to-earnings ratio of 16.17, a P/E/G ratio of 1.07 and a beta of 0.90. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The stock has a fifty day simple moving average of $61.88 and a 200-day simple moving average of $76.70. Edison International has a 52 week low of $49.06 and a 52 week high of $88.77.

Edison International (NYSE:EIX) last released its quarterly earnings data on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.03). Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business had revenue of $17.60 billion during the quarter, compared to the consensus estimate of $3.92 billion. As a group, sell-side analysts predict that Edison International will post 4.95 earnings per share for the current year.

Hedge Funds Weigh In On Edison International

A number of large investors have recently added to or reduced their stakes in EIX. Crews Bank & Trust purchased a new position in shares of Edison International in the fourth quarter worth about $25,000. Larson Financial Group LLC boosted its stake in shares of Edison International by 125.0% during the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 195 shares during the period. Prospera Private Wealth LLC bought a new position in shares of Edison International in the third quarter worth approximately $32,000. Darwin Wealth Management LLC purchased a new position in shares of Edison International in the third quarter worth $35,000. Finally, Sierra Ocean LLC bought a new stake in Edison International during the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

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.