UBS Group Cuts Edison International (NYSE:EIX) Price Target to $87.00

Edison International (NYSE:EIX) had its price objective lowered by UBS Group from $96.00 to $87.00 in a research report report published on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the utilities provider’s stock.

EIX has been the topic of several other reports. Jefferies Financial Group began coverage on shares of Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price on the stock. Argus upped their price objective on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Barclays raised their target price on Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Bank of America started coverage on Edison International in a research note on Thursday, September 12th. They issued a “buy” rating and a $95.00 price target on the stock. Finally, Morgan Stanley cut their price objective on Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Edison International presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.58.

Edison International Stock Up 2.0 %

EIX stock opened at $79.52 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The firm has a 50-day moving average of $83.80 and a two-hundred day moving average of $81.30. Edison International has a 12 month low of $63.15 and a 12 month high of $88.77. The company has a market cap of $30.79 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 1.96 and a beta of 0.92.

Edison International (NYSE:EIX) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. During the same quarter in the previous year, the company posted $1.38 earnings per share. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, analysts forecast that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th will be issued 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 is Tuesday, January 7th. This represents a $3.31 annualized dividend and a yield of 4.16%. Edison International’s dividend payout ratio is 97.07%.

Insider Activity

In related news, VP Adam S. Umanoff sold 25,619 shares of the business’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.03% of the company’s stock.

Institutional Investors Weigh In On Edison International

Several hedge funds and other institutional investors have recently bought and sold shares of EIX. Blue Trust Inc. grew its position in shares of Edison International by 101.5% during the second quarter. Blue Trust Inc. now owns 1,048 shares of the utilities provider’s stock worth $74,000 after acquiring an additional 528 shares during the last quarter. Atria Wealth Solutions Inc. increased its stake in Edison International by 4.1% in the second quarter. Atria Wealth Solutions Inc. now owns 16,680 shares of the utilities provider’s stock valued at $1,198,000 after purchasing an additional 654 shares during the period. Van Lanschot Kempen Investment Management N.V. raised its holdings in shares of Edison International by 28.3% in the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 58,555 shares of the utilities provider’s stock valued at $4,205,000 after buying an additional 12,920 shares during the last quarter. Quotient Wealth Partners LLC acquired a new stake in shares of Edison International during the second quarter worth about $307,000. Finally, Retirement Systems of Alabama boosted its stake in shares of Edison International by 0.3% during the second quarter. Retirement Systems of Alabama now owns 84,873 shares of the utilities provider’s stock worth $6,095,000 after buying an additional 214 shares during the period. 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.