Edison International (NYSE:EIX) Cut to “Peer Perform” at Wolfe Research

Wolfe Research lowered shares of Edison International (NYSE:EIX) from an outperform rating to a peer perform rating in a report released on Monday, MarketBeat.com reports.

Several other brokerages also recently weighed in on EIX. Barclays increased their price target on Edison International from $64.00 to $67.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. Mizuho decreased their target price 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. JPMorgan Chase & Co. decreased their price target on Edison International from $75.00 to $71.00 and set a “neutral” rating on the stock in a research note on Monday, May 19th. 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. Finally, Evercore ISI reissued an “outperform” rating on shares of Edison International in a research report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Edison International currently has an average rating of “Moderate Buy” and a consensus price target of $76.89.

Edison International Stock Down 1.8%

Shares of NYSE EIX opened at $49.54 on Monday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The firm has a market capitalization of $19.06 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 1.07 and a beta of 0.78. The stock has a 50 day moving average price of $55.75 and a 200 day moving average price of $61.79. Edison International has a 52-week low of $48.38 and a 52-week high of $88.77.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its position in shares of Edison International by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,416,770 shares of the utilities provider’s stock valued at $192,955,000 after purchasing an additional 76,654 shares during the last quarter. Tounjian Advisory Partners LLC purchased a new position in Edison International during the first quarter worth approximately $1,151,000. Proficio Capital Partners LLC purchased a new position in Edison International during the fourth quarter worth approximately $6,859,000. GAMMA Investing LLC raised its stake in shares of Edison International by 4,157.4% in the 1st quarter. GAMMA Investing LLC now owns 145,179 shares of the utilities provider’s stock valued at $8,554,000 after acquiring an additional 141,769 shares during the period. Finally, RWC Asset Management LLP raised its stake in shares of Edison International by 207.1% in the 4th quarter. RWC Asset Management LLP now owns 398,812 shares of the utilities provider’s stock valued at $31,841,000 after acquiring an additional 268,951 shares during the period. 88.95% of the stock is currently owned by institutional investors and hedge funds.

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.