Edison International (NYSE:EIX) Receives $83.58 Average Price Target from Brokerages

Edison International (NYSE:EIX) has earned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and eight have given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $82.88.

A number of brokerages recently commented on EIX. Guggenheim cut shares of Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday. Barclays cut their price target on Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a report on Thursday. Morgan Stanley dropped their price objective on Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price for the company in a research note on Wednesday, January 15th. Finally, Wells Fargo & Company upped their price target on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th.

Edison International Stock Performance

Shares of EIX opened at $58.71 on Friday. The firm has a market capitalization of $22.73 billion, a P/E ratio of 17.22, a P/E/G ratio of 1.20 and a beta of 0.93. Edison International has a 52 week low of $55.27 and a 52 week high of $88.77. The stock has a 50 day moving average price of $77.19 and a two-hundred day moving average price of $80.86. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88.

Edison International (NYSE:EIX) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.13. The firm had revenue of $5.20 billion during 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%. The business’s revenue was up 10.6% compared to the same quarter last year. During the same period last year, the firm posted $1.38 EPS. Equities analysts forecast that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Increases Dividend

The firm 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 boost from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date is Tuesday, January 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.64%. Edison International’s dividend payout ratio is 97.07%.

Insider Activity

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.03% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in EIX. State Street Corp grew its holdings in Edison International by 0.7% in the 3rd quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock worth $2,834,774,000 after acquiring an additional 224,337 shares during the last quarter. FMR LLC increased its holdings in Edison International by 8.7% during the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock valued at $1,898,638,000 after purchasing an additional 1,741,835 shares during the period. Geode Capital Management LLC raised its position in Edison International by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider’s stock valued at $835,142,000 after purchasing an additional 210,461 shares during the last quarter. Clearbridge Investments LLC grew its position in shares of Edison International by 0.5% in the 2nd quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock worth $360,198,000 after buying an additional 24,834 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Edison International by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,340,116 shares of the utilities provider’s stock valued at $203,801,000 after buying an additional 28,240 shares during the period. 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.