Downgrade of the Day: Edison International

Edison International (NYSE:EIX) received a stock rating downgrade from Goldman on Apr-01-16. In a note to investors, the firm issued a Neutral rating. The analysts previously had a Buy rating on the stock.

The 52-week price range is $53.61-$72.34 and the company has a market capitalization of $23.42 billion. Analysts covering the shares maintain a consensus Strong Buy rating, according to Zacks Investment Research. Zero analyst has rated the stock with a sell rating, 4 has assigned a hold rating, 0 says it’s a buy, and 6 have assigned a strong buy rating to the company.

On March 29, 2016 Edison International (EIX) introduced a new business that will focus on meeting the energy needs of the largest users of energy nationwide. The new business, Edison Energy, is based in Irvine, Calif., and will collaborate with clients throughout the country to identify and execute opportunities to help them lower costs in managing their entire energy portfolio, reduce complexity, and deliver on increasingly important sustainability objectives.

“Edison International has a long history of leading the way in innovative solutions to energy challenges, both through our regulated businesses and our experience in competitive markets,” said Ted Craver, chairman and chief executive officer of Edison International. “Large energy users increasingly need a strategic partner to help them navigate through the diverse energy marketplace. Edison Energy will provide the expertise that will enable large commercial and industrial energy users to explore the many options available to them and to select the best portfolio of alternatives to power their operations.”

The research indicated that companies are concerned about managing costs and volatility, demonstrated by a finding that 25 percent of companies surveyed do not have an accurate overview of their total energy spend. In addition, the study found that only 6 percent of all companies believe they have captured all the energy opportunities available to them. A key finding for Edison Energy, the study showed an absence of trusted advisors and partners to help companies steer through the complex array of energy options, with more than 40 percent of companies stating the lack of a credible partner as a major barrier to making new investments in energy.

See also: A Peek Inside Donald Trump’s Financials Shows How He Takes Advantage Of A Little Known Income Stream That’s Available To Everyone!