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

Investors 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 stocks 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 equities analysts also recently commented on the stock. Mizuho downgraded shares of Edison International from a “buy” rating to a “neutral” rating in a research note on Wednesday. ValuEngine downgraded shares of Edison International from a “buy” rating to a “hold” rating in a research note on Tuesday. SunTrust Banks reaffirmed a “buy” rating and set a $89.00 target price on shares of Edison International in a research note on Monday, October 30th. Bank of America reaffirmed a “buy” rating and set a $86.00 target price on shares of Edison International in a research note on Tuesday, October 24th. Finally, Citigroup lifted their target price on shares of Edison International from $84.00 to $87.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 17th. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $84.85.

In other Edison International news, insider Ronald L. Litzinger sold 224,718 shares of Edison International stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $82.00, for a total transaction of $18,426,876.00. Following the completion of the sale, 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 SEC, which is available through this hyperlink. 0.41% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Amica Retiree Medical Trust acquired a new position in shares of Edison International in the third quarter valued at approximately $138,000. Sun Life Financial INC grew its holdings in shares of Edison International by 16,935.7% in the second quarter. Sun Life Financial INC now owns 2,385 shares of the utilities provider’s stock valued at $186,000 after purchasing an additional 2,371 shares in the last quarter. TCI Wealth Advisors Inc. grew its holdings in shares of Edison International by 139.7% in the third quarter. TCI Wealth Advisors Inc. now owns 2,630 shares of the utilities provider’s stock valued at $203,000 after purchasing an additional 1,533 shares in the last quarter. OxFORD Asset Management LLP acquired a new position in shares of Edison International in the second quarter valued at approximately $204,000. Finally, Shelton Capital Management acquired a new position in shares of Edison International in the second quarter valued at approximately $206,000. Institutional investors and hedge funds own 81.36% of the company’s stock.

The company has a current ratio of 0.51, a quick ratio of 0.47 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $26,149.61, a price-to-earnings ratio of 18.28, a price-to-earnings-growth ratio of 2.91 and a beta of 0.23.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Monday, October 30th. The utilities provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.10. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.53 billion. Edison International had a net margin of 13.18% and a return on equity of 10.84%. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.29 earnings per share. analysts predict that Edison International will post 4.33 earnings per share for the current year.

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About Edison International

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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