Edison International (NYSE:EIX) Upgraded at UBS Group

UBS Group upgraded shares of Edison International (NYSE:EIX) from a neutral rating to a buy rating in a report issued on Tuesday, MarketBeat Ratings reports. The brokerage currently has $65.00 price target on the utilities provider’s stock, down from their prior price target of $69.00.

Other equities research analysts also recently issued reports about the company. Guggenheim downgraded Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price on the stock in a research report on Wednesday, January 15th. Wells Fargo & Company raised their price objective on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Morgan Stanley lowered their price objective on Edison International from $71.00 to $48.00 and set an “underweight” rating for the company in a research report on Friday, February 14th. Finally, Barclays reduced their target price on Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $80.11.

Edison International Trading Down 1.1 %

Shares of EIX stock opened at $51.86 on Tuesday. Edison International has a 1 year low of $49.06 and a 1 year high of $88.77. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The stock’s 50 day simple moving average is $65.26 and its two-hundred day simple moving average is $77.90. The company has a market cap of $20.08 billion, a PE ratio of 15.21, a price-to-earnings-growth ratio of 1.05 and a beta of 0.90.

Edison International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th were issued a $0.8275 dividend. The ex-dividend date was Tuesday, January 7th. This is a positive change from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 annualized dividend and a dividend yield of 6.38%. Edison International’s payout ratio is 97.07%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in Edison International during the fourth quarter valued at approximately $323,443,000. Canada Pension Plan Investment Board increased its stake in shares of Edison International by 364.1% during the 4th quarter. Canada Pension Plan Investment Board now owns 3,369,535 shares of the utilities provider’s stock worth $269,024,000 after purchasing an additional 2,643,571 shares during the last quarter. Northern Trust Corp increased its stake in shares of Edison International by 53.9% during the 4th quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider’s stock worth $459,642,000 after purchasing an additional 2,016,017 shares during the last quarter. FMR LLC grew its stake in Edison International by 8.7% in the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock valued at $1,898,638,000 after buying an additional 1,741,835 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Edison International by 149.3% in the 4th quarter. Ameriprise Financial Inc. now owns 2,793,795 shares of the utilities provider’s stock valued at $223,057,000 after buying an additional 1,673,204 shares during the last quarter. 88.95% of the stock is 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.