Edison International (NYSE:EIX) Stock Rating Reaffirmed by Royal Bank of Canada

Edison International (NYSE:EIX)‘s stock had its “outperform” rating restated by analysts at Royal Bank of Canada in a report released on Monday, Benzinga reports. They presently have a $94.00 price objective on the utilities provider’s stock. Royal Bank of Canada’s target price points to a potential upside of 8.53% from the stock’s current price.

EIX has been the topic of a number of other research reports. Bank of America assumed coverage on Edison International in a report on Thursday. They set a “buy” rating and a $95.00 price target on the stock. Wells Fargo & Company boosted their price target on shares of Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Morgan Stanley lifted their price objective on Edison International from $62.00 to $68.00 and gave the company an “underweight” rating in a report on Friday, August 23rd. Argus increased their target price on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Finally, Evercore ISI increased their price objective on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. One equities research 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, Edison International has a consensus rating of “Hold” and a consensus price target of $85.83.

Edison International Stock Up 1.4 %

Shares of EIX traded up $1.19 during midday trading on Monday, hitting $86.61. The company had a trading volume of 102,933 shares, compared to its average volume of 2,000,234. Edison International has a 1 year low of $58.82 and a 1 year high of $88.77. The firm has a market capitalization of $33.32 billion, a P/E ratio of 37.81 and a beta of 0.91. 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 company’s 50-day simple moving average is $81.06 and its 200-day simple moving average is $74.94.

Edison International (NYSE:EIX) last posted its earnings results on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.05 by $0.18. The firm had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.12 billion. Edison International had a return on equity of 13.01% and a net margin of 6.60%. Edison International’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.01 earnings per share. As a group, sell-side analysts expect that Edison International will post 4.96 EPS for the current year.

Insider Activity

In other Edison International news, CEO J Andrew Murphy sold 28,995 shares of Edison International stock in a transaction on Friday, July 26th. The shares were sold at an average price of $78.43, for a total value of $2,274,077.85. Following the completion of the transaction, the chief executive officer now owns 19,660 shares of the company’s stock, valued at $1,541,933.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other 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 transaction of $187,280.00. Following the completion of the transaction, the vice president now directly owns 6,338 shares of the company’s stock, valued at $507,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO J Andrew Murphy sold 28,995 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $78.43, for a total value of $2,274,077.85. Following the completion of the sale, the chief executive officer now directly owns 19,660 shares in the company, valued at approximately $1,541,933.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,099 shares of company stock worth $7,223,342. 1.03% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Edison International

Large investors have recently added to or reduced their stakes in the stock. Capital Research Global Investors raised its holdings in shares of Edison International by 1.7% during the first quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider’s stock valued at $1,438,984,000 after buying an additional 345,189 shares during the last quarter. Pzena Investment Management LLC grew its stake in shares of Edison International by 2.3% in the first quarter. Pzena Investment Management LLC now owns 13,605,080 shares of the utilities provider’s stock worth $962,287,000 after purchasing an additional 305,459 shares in the last quarter. Capital International Investors grew its stake in shares of Edison International by 6.4% in the first quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock worth $940,562,000 after purchasing an additional 795,950 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Edison International by 4.4% during the fourth quarter. Wellington Management Group LLP now owns 10,276,016 shares of the utilities provider’s stock valued at $734,632,000 after purchasing an additional 433,845 shares during the period. Finally, Clearbridge Investments LLC lifted its holdings in Edison International by 0.5% in the second quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock worth $360,198,000 after purchasing an additional 24,834 shares during the period. 88.95% of the stock is owned by institutional investors and hedge funds.

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.