Edison International (NYSE:EIX) had its target price lifted by research analysts at Argus to $80.00 in a research note issued on Thursday, The Fly reports. The brokerage presently has a “buy” rating on the utilities provider’s stock. Argus’ target price would suggest a potential upside of 14.16% from the stock’s previous close. The analysts noted that the move was a valuation call.
Several other research firms also recently weighed in on EIX. Bank of America downgraded Edison International from a “buy” rating to a “neutral” rating in a report on Thursday. Zacks Investment Research raised Edison International from a “hold” rating to a “buy” rating and set a $79.00 price objective on the stock in a report on Wednesday. Citigroup set a $72.00 price objective on Edison International and gave the company a “hold” rating in a report on Tuesday. ValuEngine raised Edison International from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd. Finally, Wells Fargo & Co raised their price objective on Edison International from $76.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, September 17th. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $74.08.
Shares of EIX opened at $70.08 on Thursday. Edison International has a 52-week low of $57.63 and a 52-week high of $83.38. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.61 and a current ratio of 0.66. The firm has a market capitalization of $22.05 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 2.84 and a beta of 0.08.
A number of institutional investors and hedge funds have recently made changes to their positions in EIX. Kiley Juergens Wealth Management LLC acquired a new position in shares of Edison International in the 2nd quarter valued at about $110,000. CSat Investment Advisory L.P. acquired a new position in shares of Edison International in the 2nd quarter valued at about $182,000. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Edison International by 416.1% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 3,045 shares of the utilities provider’s stock valued at $177,000 after purchasing an additional 2,455 shares during the period. Centaurus Financial Inc. acquired a new position in shares of Edison International in the 2nd quarter valued at about $198,000. Finally, Levin Capital Strategies L.P. acquired a new position in shares of Edison International in the 1st quarter valued at about $208,000. 81.83% of the stock is currently owned by hedge funds and other institutional investors.
About Edison International
Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.
Further Reading: Should You Consider an Index Fund?
Receive News & Ratings for Edison International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edison International and related companies with MarketBeat.com's FREE daily email newsletter.