Edison International (NYSE:EIX) Price Target Lowered to $67.00 at Barclays

Edison International (NYSE:EIX) had its target price lowered by Barclays from $76.00 to $67.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the utilities provider’s stock.

EIX has been the subject of a number of other research reports. Wells Fargo & Company lifted their price objective on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. UBS Group lowered their price target on shares of Edison International from $87.00 to $69.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective on the stock in a research note on Wednesday, January 15th. Jefferies Financial Group started coverage on shares of Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price for the company. Finally, Royal Bank of Canada increased their price target on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $82.88.

Edison International Stock Up 2.5 %

Shares of NYSE EIX opened at $58.71 on Thursday. The firm’s 50-day moving average is $77.19 and its two-hundred day moving average is $80.86. The company has a market capitalization of $22.73 billion, a PE ratio of 17.22, a price-to-earnings-growth ratio of 1.20 and a beta of 0.93. Edison International has a 12-month low of $55.27 and a 12-month high of $88.77. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81.

Edison International (NYSE:EIX) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. Edison International’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.38 EPS. Equities analysts anticipate that Edison International will post 4.94 EPS for the current fiscal year.

Edison International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th will be paid a $0.8275 dividend. This is a positive change from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 annualized dividend and a dividend yield of 5.64%. The ex-dividend date is Tuesday, January 7th. Edison International’s payout ratio is currently 97.07%.

Insider Activity at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.03% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. RBA Wealth Management LLC grew its stake in shares of Edison International by 6.9% in the fourth quarter. RBA Wealth Management LLC now owns 42,759 shares of the utilities provider’s stock valued at $3,414,000 after buying an additional 2,745 shares in the last quarter. abrdn plc grew its position in Edison International by 19.5% in the fourth quarter. abrdn plc now owns 1,695,182 shares of the utilities provider’s stock valued at $134,335,000 after acquiring an additional 276,656 shares in the last quarter. Greenleaf Trust raised its stake in shares of Edison International by 12.8% during the fourth quarter. Greenleaf Trust now owns 6,566 shares of the utilities provider’s stock valued at $524,000 after purchasing an additional 744 shares during the period. Custom Index Systems LLC acquired a new position in shares of Edison International during the fourth quarter worth $233,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of Edison International in the fourth quarter valued at $65,000. 88.95% of the stock is owned by hedge funds and other institutional investors.

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.