Brokerages Set Edison International (NYSE:EIX) PT at $77.40

Shares of Edison International (NYSE:EIX) have been given an average recommendation of “Hold” by the eleven ratings firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $77.40.

A number of equities analysts have recently weighed in on the company. Morgan Stanley lowered their price target on Edison International from $64.00 to $61.00 and set an “underweight” rating for the company in a report on Monday, June 24th. Mizuho lifted their price objective on Edison International from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Argus lifted their price objective on Edison International from $78.00 to $82.00 and gave the company a “buy” rating in a research note on Wednesday, June 12th. The Goldman Sachs Group assumed coverage on Edison International in a research report on Wednesday, April 10th. They set a “neutral” rating and a $78.00 target price on the stock. Finally, Barclays raised their target price on Edison International from $72.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd.

Edison International Stock Performance

Shares of NYSE:EIX opened at $72.39 on Wednesday. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.00 and a quick ratio of 0.93. The business’s 50 day moving average price is $73.51 and its 200-day moving average price is $70.50. The firm has a market capitalization of $27.85 billion, a PE ratio of 31.75 and a beta of 0.91. Edison International has a 1 year low of $58.82 and a 1 year high of $77.04.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.01. Edison International had a return on equity of 12.48% and a net margin of 6.14%. The business had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.16 billion. During the same period last year, the company earned $1.09 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, equities research analysts expect that Edison International will post 4.92 earnings per share for the current fiscal year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 8th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Monday, July 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.31%. Edison International’s dividend payout ratio (DPR) is presently 136.84%.

Insider Activity at Edison International

In related news, CEO J Andrew Murphy sold 9,794 shares of Edison International stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $75.07, for a total value of $735,235.58. Following the sale, the chief executive officer now directly owns 19,660 shares in the company, valued at $1,475,876.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Edison International news, SVP Caroline Choi sold 10,004 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $75.77, for a total transaction of $758,003.08. Following 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 document filed with the SEC, which can be accessed through the SEC website. Also, CEO J Andrew Murphy sold 9,794 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $75.07, for a total value of $735,235.58. Following the sale, the chief executive officer now owns 19,660 shares in the company, valued at $1,475,876.20. The disclosure for this sale can be found here. Insiders have sold a total of 77,897 shares of company stock worth $5,851,245 over the last three months. 1.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Edison International

A number of institutional investors have recently made changes to their positions in EIX. Ausbil Investment Management Ltd increased its stake in Edison International by 54.7% in the fourth quarter. Ausbil Investment Management Ltd now owns 135,099 shares of the utilities provider’s stock valued at $9,658,000 after purchasing an additional 47,784 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund increased its stake in Edison International by 4.2% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 13,655 shares of the utilities provider’s stock valued at $976,000 after purchasing an additional 551 shares during the last quarter. Jump Financial LLC acquired a new position in Edison International in the fourth quarter valued at $1,215,000. Avantax Advisory Services Inc. increased its stake in Edison International by 73.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 21,114 shares of the utilities provider’s stock valued at $1,509,000 after purchasing an additional 8,922 shares during the last quarter. Finally, Principal Securities Inc. acquired a new position in Edison International in the fourth quarter valued at $1,233,000. 88.95% of the stock is owned by institutional investors and hedge funds.

Edison International Company Profile

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.