Edison International [NYSE: EIX] price surged by 1.79 percent to reach at $1.22. The company report on January 11, 2023 that Southern California Edison Issues Catalina Island Clean Energy All-Source Request for Offers.
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Competitive procurement seeks incremental resources that can come online no later than 2027 as part of the company’s Pathway 2045 vision for carbon neutrality.
Southern California Edison launched the 2022 Catalina Island Clean Energy All-Source Request for Offers (RFO) to solicit bids from interested parties, including project sponsors and developers. The successful offer(s) will be part of the Catalina Island Repower Project and SCE’s long-term clean energy strategy as part of its Pathway 2045 vision for carbon neutrality by 2045.
A sum of 4205727 shares traded at recent session while its average daily volume was at 1.87M shares. Edison International shares reached a high of $69.48 and dropped to a low of $68.04 until finishing in the latest session at $69.42.
The one-year EIX stock forecast points to a potential downside of -1.24. The average equity rating for EIX stock is currently 2.40, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Edison International [EIX]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EIX shares is $68.57 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on EIX stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
UBS have made an estimate for Edison International shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 03, 2023. While these analysts kept the previous recommendation, Credit Suisse raised their target price to Neutral. The new note on the price target was released on October 03, 2022, representing the official price target for Edison International stock. Previously, the target price had yet another drop from $69 to $62, while Morgan Stanley kept a Underweight rating on EIX stock.
The Average True Range (ATR) for Edison International is set at 1.62, with the Price to Sales ratio for EIX stock in the period of the last 12 months amounting to 1.56. The Price to Book ratio for the last quarter was 1.98, with the Price to Cash per share for the same quarter was set at 0.63.
EIX Stock Performance Analysis:
Edison International [EIX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.56. With this latest performance, EIX shares gained by 5.52% in over the last four-week period, additionally plugging by 11.61% over the last 6 months – not to mention a rise of 5.76% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EIX stock in for the last two-week period is set at 66.18, with the RSI for the last a single of trading hit 70.53, and the three-weeks RSI is set at 63.20 for Edison International [EIX]. The present Moving Average for the last 50 days of trading for this stock 63.68, while it was recorded at 67.43 for the last single week of trading, and 65.25 for the last 200 days.
Insight into Edison International Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Edison International [EIX] shares currently have an operating margin of +18.92 and a Gross Margin at +23.50. Edison International’s Net Margin is presently recorded at +5.49.
Return on Equity for this stock inclined to 5.47, with Return on Assets sitting at 1.14.
Edison International’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.60.
EIX Stock EPS
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for EIX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Edison International go to 4.40%.
Edison International [EIX] Insider Position Details
There are presently around $23,268 million, or 90.40% of EIX stock, in the hands of institutional investors. The top three institutional holders of EIX stocks are: VANGUARD GROUP INC with ownership of 46,704,150, which is approximately 2.752% of the company’s market cap and around 0.09% of the total institutional ownership; BLACKROCK INC., holding 38,733,087 shares of the stock with an approximate value of $2.69 billion in EIX stocks shares; and STATE STREET CORP, currently with $2.03 billion in EIX stock with ownership of nearly 1.959% of the company’s market capitalization.
Positions in Edison International stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 354 institutional holders increased their position in Edison International [NYSE:EIX] by around 17,467,862 shares. Additionally, 283 investors decreased positions by around 15,940,556 shares, while 120 investors held positions by with 301,765,158 shares. The mentioned changes placed institutional holdings at 335,173,576 shares, according to the latest SEC report filing. EIX stock had 73 new institutional investments in for a total of 1,521,695 shares, while 58 institutional investors sold positions of 2,407,499 shares during the same period.