Edison International (NYSE:EIX) Hits New 1-Year Low – What’s Next?

Edison International (NYSE:EIX) shares reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $55.02 and last traded at $55.45, with a volume of 979288 shares trading hands. The stock had previously closed at $55.80.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Wells Fargo & Company raised their price target on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Guggenheim downgraded shares of Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. Jefferies Financial Group assumed coverage on Edison International in a research report on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price on the stock. LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target for the company in a report on Wednesday, January 15th. Finally, Morgan Stanley decreased 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. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $82.88.

Edison International Price Performance

The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The stock has a market capitalization of $20.79 billion, a price-to-earnings ratio of 15.72, a P/E/G ratio of 1.20 and a beta of 0.93. The business’s 50 day simple moving average is $75.46 and its 200-day simple moving average is $80.56.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.13. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations 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 previous year, the firm earned $1.38 EPS. On average, research analysts forecast that Edison International will post 4.94 earnings per share for the current year.

Edison International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th will be paid a dividend of $0.8275 per share. This is an increase from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Tuesday, January 7th. This represents a $3.31 annualized dividend and a yield of 6.16%. Edison International’s payout ratio is presently 97.07%.

Institutional Investors Weigh In On Edison International

Hedge funds have recently made changes to their positions in the stock. Crews Bank & Trust bought a new position in Edison International in the 4th quarter valued at approximately $25,000. Highline Wealth Partners LLC acquired a new position in shares of Edison International during the third quarter worth $26,000. Groupama Asset Managment lifted its stake in shares of Edison International by 0.8% in the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 237 shares during the last quarter. Eastern Bank acquired a new stake in shares of Edison International during the 3rd quarter valued at $27,000. Finally, Larson Financial Group LLC grew its position in Edison International by 125.0% during the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 195 shares during the last quarter. 88.95% of the stock is currently 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.