Edison International (NYSE:EIX) Reaches New 1-Year High After Analyst Upgrade

Edison International (NYSE:EIX)’s stock price reached a new 52-week high during trading on Monday after Morgan Stanley raised their price target on the stock from $62.00 to $68.00. Morgan Stanley currently has an underweight rating on the stock. Edison International traded as high as $85.35 and last traded at $85.29, with a volume of 57004 shares trading hands. The stock had previously closed at $84.76.

Other analysts also recently issued reports about the company. Barclays increased their price target on Edison International from $75.00 to $80.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. UBS Group downgraded Edison International from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $83.00 to $82.00 in a report on Friday, July 19th. Mizuho boosted their price target on Edison International from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Guggenheim raised their price objective on shares of Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Wells Fargo & Company boosted their target price on shares of Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $80.73.

Insider Activity at Edison International

In other news, VP Natalie K. Schilling sold 2,341 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the completion of the sale, the vice president now directly owns 6,338 shares of the company’s stock, valued at $507,040. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 completion of the sale, the senior vice president now directly owns 26,918 shares of the company’s stock, valued at approximately $2,039,576.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Natalie K. Schilling sold 2,341 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total value of $187,280.00. Following the transaction, the vice president now owns 6,338 shares in the company, valued at $507,040. The disclosure for this sale can be found here. In the last 90 days, insiders sold 99,103 shares of company stock valued at $7,981,345. 1.03% of the stock is owned by company insiders.

Institutional Trading of Edison International

Several institutional investors have recently made changes to their positions in the company. Clearbridge Investments LLC boosted its stake 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. Cetera Investment Advisers lifted its holdings in Edison International by 0.5% during the second quarter. Cetera Investment Advisers now owns 105,345 shares of the utilities provider’s stock worth $7,565,000 after acquiring an additional 540 shares during the period. EP Wealth Advisors LLC lifted its holdings in Edison International by 9.5% during the second quarter. EP Wealth Advisors LLC now owns 10,851 shares of the utilities provider’s stock worth $779,000 after acquiring an additional 937 shares during the period. Quarry LP boosted its position in Edison International by 154.0% in the second quarter. Quarry LP now owns 37,371 shares of the utilities provider’s stock worth $2,684,000 after purchasing an additional 22,658 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in Edison International by 8.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 10,126 shares of the utilities provider’s stock valued at $727,000 after purchasing an additional 816 shares during the period. Institutional investors own 88.95% of the company’s stock.

Edison International Trading Down 0.7 %

The stock has a market capitalization of $32.62 billion, a PE ratio of 37.18 and a beta of 0.91. The company has a current ratio of 1.03, a quick ratio of 0.96 and a debt-to-equity ratio of 2.04. The firm has a 50-day moving average price of $77.08 and a 200-day moving average price of $73.01.

Edison International (NYSE:EIX) last posted its quarterly earnings data 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 business had revenue of $4.34 billion during the quarter, compared to the consensus estimate 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 last year, the company posted $1.01 earnings per share. As a group, equities analysts forecast that Edison International will post 4.94 EPS for the current fiscal year.

Edison International Announces Dividend

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

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.