Barclays Trims Edison International (NYSE:EIX) Target Price to $89.00

Edison International (NYSE:EIX) had its price objective cut by Barclays from $91.00 to $89.00 in a research note released on Tuesday morning, Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

Several other analysts also recently issued reports on EIX. Bank of America started coverage on shares of Edison International in a report on Thursday, September 12th. They issued a buy rating and a $95.00 price target on the stock. Wells Fargo & Company increased their target price on Edison International from $86.00 to $87.00 and gave the company an overweight rating in a report on Friday, July 26th. Morgan Stanley boosted their price target on Edison International from $68.00 to $72.00 and gave the stock an underweight rating in a report on Wednesday, September 25th. Guggenheim upped their price objective on Edison International from $80.00 to $83.00 and gave the company a buy rating in a research report on Friday, July 26th. Finally, Evercore ISI lifted their price objective on Edison International from $82.00 to $88.00 and gave the stock an outperform rating in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $86.50.

Edison International Stock Performance

NYSE EIX opened at $85.07 on Tuesday. The business has a 50 day moving average price of $85.09 and a 200 day moving average price of $77.52. The company has a market capitalization of $32.73 billion, a P/E ratio of 37.31, a PEG ratio of 1.92 and a beta of 0.91. Edison International has a 1-year low of $61.64 and a 1-year high of $88.77. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.03 and a quick ratio of 0.96.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The business had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter last year, the business posted $1.01 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. Sell-side analysts expect that Edison International will post 4.97 EPS for the current fiscal year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 7th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date is Monday, October 7th. Edison International’s dividend payout ratio (DPR) is presently 136.84%.

Insider Activity at Edison International

In other news, CEO J Andrew Murphy sold 23,896 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $85.45, for a total value of $2,041,913.20. Following the completion of the sale, the chief executive officer now owns 19,850 shares of the company’s stock, valued at $1,696,182.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Natalie K. Schilling sold 2,341 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total value of $187,280.00. Following the completion of the sale, the vice president now owns 6,338 shares of the company’s stock, valued at $507,040. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO J Andrew Murphy sold 23,896 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $85.45, for a total value of $2,041,913.20. Following the completion of the sale, the chief executive officer now owns 19,850 shares of the company’s stock, valued at approximately $1,696,182.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,099 shares of company stock worth $7,223,342. Company insiders own 1.03% of the company’s stock.

Hedge Funds Weigh In On Edison International

Several hedge funds and other institutional investors have recently bought and sold shares of EIX. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Edison International during the second quarter valued at approximately $27,000. Global Trust Asset Management LLC acquired a new stake in Edison International during the 1st quarter valued at $28,000. Country Trust Bank purchased a new stake in Edison International during the 2nd quarter worth $29,000. Farmers & Merchants Investments Inc. lifted its holdings in Edison International by 53.8% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after buying an additional 140 shares in the last quarter. Finally, OFI Invest Asset Management purchased a new position in Edison International in the 2nd quarter valued at about $32,000. 88.95% of the stock is owned by institutional investors and hedge funds.

About Edison International

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.