Traders Buy Shares of Edison International (EIX) on Weakness on Analyst Downgrade

Traders bought shares of Edison International (NYSE:EIX) on weakness during trading on Wednesday after Deutsche Bank lowered their price target on the stock to $78.00. $149.46 million flowed into the stock on the tick-up and $121.67 million flowed out of the stock on the tick-down, for a money net flow of $27.79 million into the stock. Of all equities tracked, Edison International had the 33rd highest net in-flow for the day. Edison International traded down ($1.28) for the day and closed at $68.72

A number of other brokerages have also recently commented on EIX. ValuEngine raised Edison International from a “hold” rating to a “buy” rating in a report on Wednesday, November 15th. SunTrust Banks reaffirmed a “buy” rating and issued a $89.00 price target on shares of Edison International in a report on Monday, October 30th. Jefferies Group raised Edison International from a “hold” rating to a “buy” rating and increased their price target for the company from $85.00 to $90.00 in a report on Friday, August 11th. Mizuho cut Edison International from a “buy” rating to a “neutral” rating in a report on Wednesday. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $85.00 price target on shares of Edison International in a report on Thursday, August 17th. Eleven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $84.85.

In related news, insider Ronald L. Litzinger sold 224,718 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $82.00, for a total value of $18,426,876.00. Following the completion of the transaction, the insider now directly owns 14,121 shares in the company, valued at $1,157,922. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.41% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in EIX. USS Investment Management Ltd purchased a new position in shares of Edison International during the third quarter worth $137,776,000. Capital International Investors purchased a new position in shares of Edison International during the third quarter worth $95,783,000. Janus Henderson Group PLC boosted its position in shares of Edison International by 2,522.5% during the second quarter. Janus Henderson Group PLC now owns 1,234,840 shares of the utilities provider’s stock worth $96,552,000 after buying an additional 1,187,754 shares during the period. BT Investment Management Ltd purchased a new position in shares of Edison International during the second quarter worth $55,640,000. Finally, Wells Fargo & Company MN boosted its position in shares of Edison International by 30.3% during the third quarter. Wells Fargo & Company MN now owns 2,572,937 shares of the utilities provider’s stock worth $198,553,000 after buying an additional 598,402 shares during the period. Institutional investors and hedge funds own 81.36% of the company’s stock.

The stock has a market cap of $26,149.61, a PE ratio of 18.28, a P/E/G ratio of 2.91 and a beta of 0.23. The company has a quick ratio of 0.47, a current ratio of 0.51 and a debt-to-equity ratio of 0.80.

Edison International (NYSE:EIX) last released its quarterly earnings results on Monday, October 30th. The utilities provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.33 by $0.10. Edison International had a return on equity of 10.84% and a net margin of 13.18%. The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.53 billion. During the same period last year, the business posted $1.29 earnings per share. The company’s quarterly revenue was down 2.5% on a year-over-year basis. research analysts predict that Edison International will post 4.33 earnings per share for the current fiscal year.

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Edison International Company Profile

Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.

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