Wells Fargo & Company Has Lowered Expectations for Edison International (NYSE:EIX) Stock Price

Edison International (NYSE:EIX) had its target price cut by Wells Fargo & Company from $94.00 to $75.00 in a report released on Friday,Benzinga reports. The firm presently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 37.75% from the stock’s previous close.

A number of other research analysts have also commented on EIX. UBS Group upgraded shares of Edison International from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $69.00 to $65.00 in a research note on Tuesday, February 18th. LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target on the stock in a report on Wednesday, January 15th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $72.00 price target on shares of Edison International in a report on Wednesday, February 12th. Guggenheim lowered Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. Finally, Barclays lowered their price target on Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $78.75.

Edison International Trading Up 6.0 %

Shares of Edison International stock opened at $54.45 on Friday. The company has a fifty day simple moving average of $61.38 and a 200-day simple moving average of $76.46. Edison International has a 12-month low of $49.06 and a 12-month high of $88.77. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The stock has a market cap of $21.08 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 1.07 and a beta of 0.90.

Edison International (NYSE:EIX) last issued its earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.03). Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company had revenue of $17.60 billion during the quarter, compared to analyst estimates of $3.92 billion. On average, equities analysts forecast that Edison International will post 4.95 EPS for the current fiscal year.

Hedge Funds Weigh In On Edison International

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Edison International by 3.3% during the 4th quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider’s stock worth $3,879,408,000 after purchasing an additional 1,559,501 shares during the period. State Street Corp increased its position in Edison International by 0.7% during the 3rd quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock worth $2,834,774,000 after purchasing an additional 224,337 shares during the period. FMR LLC increased its position in Edison International by 8.7% during the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock worth $1,898,638,000 after purchasing an additional 1,741,835 shares during the period. Geode Capital Management LLC grew its holdings in shares of Edison International by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 9,983,519 shares of the utilities provider’s stock worth $795,123,000 after acquiring an additional 362,999 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Edison International by 53.9% in the 4th quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider’s stock worth $459,642,000 after acquiring an additional 2,016,017 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

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.