Edison International (EIX) has been under a strong bear grip, hence the stock is down -2.74% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 1.08% in the past 1 week. The stock has risen by 1.13% in the past week indicating that the buyers are active at lower levels, but the stock is down -1.74% in the past 4 weeks.
The stock has recorded a 20-day Moving Average of 0.74% and the 50-Day Moving Average is 0.46%. Edison International (NYSE:EIX): stock turned positive on Friday. Though the stock opened at $75.78, the bulls momentum made the stock top out at $76.24 level for the day. The stock recorded a low of $75.56 and closed the trading day at $75.84, in the green by 0.45%. The total traded volume for the day was 1,194,963. The stock had closed at $75.5 in the previous days trading.
The company Insiders own 1.51% of Edison International shares according to the proxy statements. Institutional Investors own 81.55% of Edison International shares. During last six month period, the net percent change held by insiders has seen a change of -58.78%. Also, In a research note released to the investors, Deutsche Bank maintains its rating on Edison International (NYSE:EIX).The analysts at the brokerage house have a current rating of Hold on the shares. In a recent information released to the investors, Deutsche Bank raises the new price target from $76 per share to $77 per share. The rating by the firm was issued on July 29, 2016.
Edison International is the parent holding company of Southern California Edison Company (SCE) and subsidiaries. SCE is a public utility primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. Edison International is also the parent company of subsidiaries that are engaged in businesses related to the generation or use of electricity. Edison Internationals other subsidiaries include Edison Mission Group Inc. and SoCore Energy LLC. Edison Mission Group Inc. is a wholly owned subsidiary of Edison International and the parent company of Edison Mission Energy and Edison Capital. SoCore Energy LLC, a subsidiary engaged in distributed generation, has constructed 26 Megawatt of rooftop solar systems in nine states selling power back to commercial customers under power purchase agreements.