Edison International (NYSE:EIX) Receives $80.09 Average PT from Brokerages

Shares of Edison International (NYSE:EIX) have earned a consensus rating of “Hold” from the eleven brokerages that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $80.73.

EIX has been the subject of a number of research reports. Wells Fargo & Company lifted their target price on shares of Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. UBS Group cut shares of Edison International from a “buy” rating to a “neutral” rating and cut their target price for the stock from $83.00 to $82.00 in a research report on Friday, July 19th. Barclays lifted their target price on shares of Edison International from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Mizuho lifted their target price on shares of Edison International from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Finally, Evercore ISI lifted their target price on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th.

Edison International Stock Up 0.5 %

Shares of NYSE EIX opened at $84.76 on Thursday. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 2.04. Edison International has a 52 week low of $58.82 and a 52 week high of $85.00. The firm has a 50-day moving average price of $76.80 and a 200 day moving average price of $72.82. The stock has a market capitalization of $32.61 billion, a price-to-earnings ratio of 37.18 and a beta of 0.91.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. The company had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.01 earnings per share. Equities research analysts anticipate that Edison International will post 4.94 EPS for the current fiscal year.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, July 8th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.68%. Edison International’s dividend payout ratio (DPR) is presently 136.84%.

Insider Transactions at Edison International

In related news, SVP Caroline Choi sold 10,004 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $75.77, for a total value of $758,003.08. Following the completion of the sale, the senior vice president now directly owns 26,918 shares in the company, valued at $2,039,576.86. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Caroline Choi sold 10,004 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $75.77, for a total value of $758,003.08. Following the transaction, the senior vice president now directly owns 26,918 shares of the company’s stock, valued at approximately $2,039,576.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO J Andrew Murphy sold 32,505 shares of Edison International stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.12, for a total value of $2,604,300.60. Following the completion of the transaction, the chief executive officer now owns 19,660 shares in the company, valued at approximately $1,575,159.20. The disclosure for this sale can be found here. Insiders sold a total of 73,845 shares of company stock worth $5,823,662 over the last ninety days. 1.03% of the stock is currently owned by corporate insiders.

Institutional Trading of Edison International

A number of institutional investors have recently modified their holdings of EIX. Able Wealth Management LLC purchased a new stake in Edison International during the 4th quarter worth $25,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Edison International in the second quarter worth about $27,000. Global Trust Asset Management LLC purchased a new stake in shares of Edison International in the first quarter worth about $28,000. Country Trust Bank acquired a new stake in shares of Edison International in the second quarter valued at about $29,000. Finally, Farmers & Merchants Investments Inc. raised its holdings in shares of Edison International by 53.8% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after buying an additional 140 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

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.