Edison International (NYSE:EIX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Edison International (NYSE:EIX) have been given an average recommendation of “Moderate Buy” by the twelve brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $84.67.

Several equities analysts recently commented on the company. Morgan Stanley boosted their price target on Edison International from $62.00 to $68.00 and gave the stock an “underweight” rating in a research report on Friday, August 23rd. Barclays raised their price target on shares of Edison International from $80.00 to $91.00 and gave the company an “equal weight” rating in a report on Wednesday, September 4th. Argus boosted their price objective on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Evercore ISI raised their target price on Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Finally, Guggenheim lifted their target price on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, July 26th.

Insider Activity at Edison International

In other Edison International news, CEO J Andrew Murphy sold 1,362 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $85.00, for a total value of $115,770.00. Following the transaction, the chief executive officer now owns 19,850 shares of the company’s stock, valued at $1,687,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Natalie K. Schilling sold 2,341 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total value of $187,280.00. Following the sale, the vice president now owns 6,338 shares of the company’s stock, valued at approximately $507,040. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO J Andrew Murphy sold 1,362 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $85.00, for a total transaction of $115,770.00. Following the transaction, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at $1,687,250. The disclosure for this sale can be found here. Insiders sold a total of 89,099 shares of company stock valued at $7,223,342 in the last quarter. Insiders own 1.03% of the company’s stock.

Institutional Investors Weigh In On Edison International

A number of hedge funds have recently made changes to their positions in EIX. Capital Research Global Investors increased its position in Edison International by 23.0% in the 4th quarter. Capital Research Global Investors now owns 19,999,563 shares of the utilities provider’s stock valued at $1,429,769,000 after acquiring an additional 3,734,550 shares during the period. Norges Bank acquired a new position in shares of Edison International during the fourth quarter valued at $210,327,000. M&G Plc acquired a new stake in Edison International in the first quarter worth about $85,436,000. Capital International Investors grew its position in Edison International by 6.4% in the 1st quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock valued at $940,562,000 after buying an additional 795,950 shares in the last quarter. Finally, Morningstar Investment Services LLC increased its stake in Edison International by 98.1% during the 4th quarter. Morningstar Investment Services LLC now owns 1,347,664 shares of the utilities provider’s stock valued at $96,492,000 after buying an additional 667,273 shares during the period. Institutional investors own 88.95% of the company’s stock.

Edison International Stock Up 0.9 %

Shares of NYSE:EIX opened at $85.42 on Monday. The stock has a 50-day simple moving average of $81.06 and a 200-day simple moving average of $74.94. The stock has a market capitalization of $32.99 billion, a P/E ratio of 37.47 and a beta of 0.91. Edison International has a 1 year low of $58.82 and a 1 year high of $88.77. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03.

Edison International (NYSE:EIX) last released its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.18. The company had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.12 billion. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.01 earnings per share. Equities analysts forecast that Edison International will post 4.96 earnings per share for the current year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, July 8th were given a $0.78 dividend. The ex-dividend date was Monday, July 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.65%. Edison International’s payout ratio is currently 136.84%.

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.