Edison International (NYSE:EIX) Given New $72.00 Price Target at Morgan Stanley

Edison International (NYSE:EIX) had its price objective decreased by Morgan Stanley from $74.00 to $72.00 in a research note published on Friday,Benzinga reports. Morgan Stanley currently has an underweight rating on the utilities provider’s stock.

Other research analysts have also issued research reports about the stock. 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 research note on Wednesday, September 11th. UBS Group upped their price objective on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Evercore ISI raised their target price on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Guggenheim raised their price target on shares of Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Wells Fargo & Company raised their price objective on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $88.75.

Edison International Stock Up 1.3 %

Shares of EIX opened at $87.60 on Friday. The firm has a market capitalization of $33.91 billion, a P/E ratio of 25.69, a P/E/G ratio of 2.07 and a beta of 0.92. Edison International has a 12-month low of $63.15 and a 12-month high of $88.77. The firm has a fifty day moving average price of $84.66 and a 200-day moving average price of $80.26. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.13. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.38 EPS. Equities research analysts expect that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.56%. The ex-dividend date was Monday, October 7th. Edison International’s payout ratio is currently 91.50%.

Insider Activity

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.03% of the company’s stock.

Hedge Funds Weigh In On Edison International

Large investors have recently made changes to their positions in the stock. Highline Wealth Partners LLC acquired a new stake in Edison International in the 3rd quarter valued at approximately $26,000. Groupama Asset Managment grew its stake in shares of Edison International by 0.8% in the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock valued at $26,000 after buying an additional 237 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Edison International in the 2nd quarter valued at $27,000. Eastern Bank acquired a new position in Edison International during the 3rd quarter worth about $27,000. Finally, Country Trust Bank purchased a new position in Edison International during the 2nd quarter valued at about $29,000. 88.95% of the stock is currently 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.