Sunday, June 26, 2022

Investing in Edison International (EIX) Is Getting More Attractive

Edison International’s filing revealed that its Director CHANG VANESSA C L acquired Company’s shares for reported $7692.0 on May 02. In the deal valued at $69.30 per share,111 shares were bought. As a result of this transaction, CHANG VANESSA C L now holds 6,178 shares worth roughly $ 0.37 million.

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Then, CHANG VANESSA C L bought 155 shares, generating $10,413 in total proceeds. Upon buying the shares at $67.18, the Director now owns 6,011 shares.

Before that, CHANG VANESSA C L bought 200 shares. Edison International shares valued at $13,234 were divested by the Director at a price of $66.17 per share. As a result of the transaction, CHANG VANESSA C L now holds 5,856 shares, worth roughly $0.35 million.

Following these proceedings, UBS downgraded its Edison International [EIX] rating to a Neutral from a a Buy in a research note published on Tuesday, June 06, 2022; the price target was decreased to $73 from $75. PT values the company’s stock at a premium of 17.42 to its Tuesday closing price. A number of analysts have revised their coverage, including Mizuho’s analysts, who decreased its forecast for the stock in early May from “a Buy” to “a Neutral”. BofA Securities also remained covering EIX and has decreased its forecast on July 13, 2021 with a “Neutral” recommendation from previously “Buy” rating. KeyBanc Capital Markets revised its rating on July 01, 2021. It rated EIX as “a Sector weight” which previously was an “an Overweight”.

Price Performance Review of EIX

On Tuesday, Edison International [NYSE:EIX] saw its stock jump 2.31% to $60.28. On the same session, the stock had its day’s lowest price of $59.06, but rose to a high of $60.65. Over the last five days, the stock has lost -3.37%. Edison International shares have fallen nearly -11.68% since the year began. Nevertheless, the stocks have risen 7.45% over the past one year. While a 52-week high of $73.32 was reached on 04/21/22, a 52-week low of $54.14 was recorded on 02/24/22. SMA at 50 days reached $68.25, while 200 days put it at $64.42. A total of 1.83 million shares were traded, compared to the trading of 3.92 million shares in the previous session.

Levels Of Support And Resistance For EIX Stock

The 24-hour chart illustrates a support level at 59.34, which if violated will result in even more drops to 58.41. On the upside, there is a resistance level at 60.93. A further resistance level may holdings at 61.59. The Relative Strength Index (RSI) on the 14-day chart is 30.75, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -5.61, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 85.86%. Stochastics %K at 6.51% indicates the stock is a buying.

Edison International [EIX] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 42,884,533 shares, or roughly 11.25% of the outstanding EIX shares. In other words, the investor’s shares have risen by 802,438 from its previous 13-F filing of 42082095.0. Additionally, SSgA Funds Management, Inc. increased 6.82% of its stake after which the total value it holdings stand at $1,949,706,567, while BlackRock Fund Advisors added 1.13% of its stake to hold $1.59 billion in the firm. Over the last quarter, Capital Research & Management Co purchased 6,272,409 shares of Edison International, while Franklin Advisers, Inc. bought -258,879 shares. At present, Capital Research & Management Co is holding 16,819,184 shares valued at $1.18 billion. Pzena Investment Management LLC owned 14,670,491 shares of the company at the time of its most recent 13F filing, worth $1.03 billion.

According to FactSet, Edison International’s share price will average $75.73 in the next year, based on opinions of analysts polled by the firm. This is up nearly 28.99 percent from its previous closing price of $58.92. Analysts expect Edison International stock to reach the higher price of $86.00, while the lowest price estimate is $64.00. However, 19 analysts have rated EIX stock as an Overweight in their predictions for 2022.

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