Edison International (NYSE:EIX) Given a $83.00 Price Target by SunTrust Banks Analysts

Edison International (NYSE:EIX) has been given a $83.00 price target by equities research analysts at SunTrust Banks in a report released on Friday, TipRanks reports. The firm currently has a “buy” rating on the utilities provider’s stock. SunTrust Banks’ price objective suggests a potential upside of 28.56% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Morgan Stanley lifted their price target on shares of Edison International from $70.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Friday, August 16th. Wells Fargo & Co set a $73.00 price target on shares of Edison International and gave the stock a “hold” rating in a research note on Friday, July 26th. TheStreet upgraded shares of Edison International from a “c+” rating to a “b-” rating in a research note on Friday, July 26th. Royal Bank of Canada lifted their price target on shares of Edison International to $79.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. They noted that the move was a valuation call. Finally, UBS Group raised their price objective on shares of Edison International from $77.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, September 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $74.27.

Shares of Edison International stock traded down $1.49 on Friday, hitting $64.56. 4,231,199 shares of the company’s stock were exchanged, compared to its average volume of 2,549,667. The company has a 50-day simple moving average of $72.28 and a 200-day simple moving average of $67.86. The stock has a market capitalization of $25.55 billion, a PE ratio of 15.56, a PEG ratio of 2.91 and a beta of 0.10. Edison International has a 1 year low of $45.50 and a 1 year high of $76.45. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.64 and a current ratio of 0.69.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.43. The business had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Edison International had a negative net margin of 1.21% and a positive return on equity of 12.15%. During the same quarter last year, the company posted $0.85 EPS. On average, analysts expect that Edison International will post 4.69 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in EIX. CENTRAL TRUST Co increased its holdings in shares of Edison International by 6.0% in the 2nd quarter. CENTRAL TRUST Co now owns 2,772 shares of the utilities provider’s stock worth $194,000 after buying an additional 156 shares during the last quarter. Cerebellum GP LLC boosted its stake in shares of Edison International by 3.0% during the 2nd quarter. Cerebellum GP LLC now owns 5,288 shares of the utilities provider’s stock worth $356,000 after purchasing an additional 156 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Edison International by 1.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 10,137 shares of the utilities provider’s stock worth $683,000 after purchasing an additional 160 shares during the period. Hartford Investment Management Co. boosted its stake in shares of Edison International by 0.5% during the 2nd quarter. Hartford Investment Management Co. now owns 35,743 shares of the utilities provider’s stock worth $2,409,000 after purchasing an additional 172 shares during the period. Finally, Wealthfront Advisers LLC boosted its stake in shares of Edison International by 1.1% during the 3rd quarter. Wealthfront Advisers LLC now owns 18,891 shares of the utilities provider’s stock worth $1,425,000 after purchasing an additional 209 shares during the period. Institutional investors own 77.93% of the company’s stock.

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.

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