Edison International (NYSE:EIX) Price Target Raised to $94.00 at Wells Fargo & Company

Edison International (NYSE:EIX) had its price target boosted by Wells Fargo & Company from $87.00 to $94.00 in a research report released on Wednesday, Benzinga reports. The firm currently has an overweight rating on the utilities provider’s stock.

A number of other equities research analysts have also recently commented on EIX. Bank of America assumed coverage on shares of Edison International in a report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price target for the company. UBS Group raised their price objective on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Morgan Stanley raised their price objective on shares of Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a research note on Wednesday, September 25th. Royal Bank of Canada raised their price objective on shares of Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Finally, Evercore ISI raised their price objective on shares of Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $88.36.

Edison International Trading Down 1.5 %

EIX opened at $81.13 on Wednesday. Edison International has a twelve month low of $62.21 and a twelve month high of $88.77. The company has a quick ratio of 0.96, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The company has a fifty day moving average of $85.39 and a 200-day moving average of $78.81. The stock has a market cap of $31.41 billion, a PE ratio of 23.79, a price-to-earnings-growth ratio of 1.92 and a beta of 0.92.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.01 billion. During the same period in the prior year, the company posted $1.38 earnings per share. Edison International’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, sell-side analysts predict that Edison International will post 4.94 EPS for the current year.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s payout ratio is currently 91.50%.

Insider Activity at Edison International

In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of Edison International 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 sale, the chief executive officer now owns 19,850 shares of the company’s stock, valued at approximately $1,696,182.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.03% of the stock is owned by insiders.

Institutional Trading of Edison International

Hedge funds have recently added to or reduced their stakes in the stock. Highline Wealth Partners LLC bought a new stake in Edison International in the third quarter worth about $26,000. Eastern Bank bought a new stake in Edison International in the third quarter worth about $27,000. Ashton Thomas Private Wealth LLC bought a new stake in Edison International in the second quarter worth about $27,000. Concord Wealth Partners raised its position in Edison International by 277.0% in the third quarter. Concord Wealth Partners now owns 377 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 277 shares during the period. Finally, Country Trust Bank purchased a new position in shares of Edison International in the second quarter worth about $29,000. Institutional investors own 88.95% of the company’s stock.

Edison International Company Profile

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.