Edison International (NYSE:EIX) Given New $71.00 Price Target at JPMorgan Chase & Co.

Edison International (NYSE:EIX) had its target price cut by equities researchers at JPMorgan Chase & Co. from $75.00 to $71.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 21.87% from the company’s previous close.

Other analysts have also recently issued reports about the company. Evercore ISI reissued an “outperform” rating on shares of Edison International in a report on Thursday, May 15th. Wells Fargo & Company dropped their price target 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. Mizuho reduced their price objective on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. The Goldman Sachs Group lowered their target price on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Finally, Barclays increased their price target on Edison International from $64.00 to $67.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $76.89.

Edison International Stock Performance

EIX stock opened at $58.26 on Monday. The company has a 50 day moving average price of $56.91 and a 200 day moving average price of $64.86. Edison International has a fifty-two week low of $49.06 and a fifty-two week high of $88.77. 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 market capitalization of $22.42 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 1.07 and a beta of 0.77.

Edison International (NYSE:EIX) last released its earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.16. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the previous year, the company posted $1.13 earnings per share. The firm’s quarterly revenue was down 6.5% on a year-over-year basis. Analysts forecast that Edison International will post 4.95 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Crews Bank & Trust acquired a new stake in shares of Edison International during the fourth quarter worth $25,000. Sierra Ocean LLC bought a new position in Edison International during the 4th quarter worth about $33,000. Raleigh Capital Management Inc. raised its stake in shares of Edison International by 285.3% in the 4th quarter. Raleigh Capital Management Inc. now owns 420 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 311 shares during the period. Bellwether Advisors LLC bought a new stake in shares of Edison International in the fourth quarter valued at about $34,000. Finally, Rakuten Securities Inc. lifted its holdings in shares of Edison International by 4,633.3% in the first quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 417 shares in the last quarter. Institutional investors and hedge funds 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.