Analysts Set Edison International (NYSE:EIX) PT at $88.58

Edison International (NYSE:EIX) has been assigned an average rating of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $88.58.

EIX has been the subject of several research analyst reports. UBS Group lowered their price objective on shares of Edison International from $96.00 to $87.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. Bank of America started coverage on Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 price target on the stock. Morgan Stanley reduced their price target on Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Barclays boosted their target price on shares of Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company increased their price target on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th.

Edison International Trading Down 0.3 %

EIX opened at $79.79 on Wednesday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. Edison International has a one year low of $63.15 and a one year high of $88.77. The firm has a market capitalization of $30.89 billion, a price-to-earnings ratio of 23.40, a PEG ratio of 1.96 and a beta of 0.92. The business has a 50 day simple moving average of $83.29 and a two-hundred day simple moving average of $81.44.

Edison International (NYSE:EIX) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The business had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.01 billion. During the same quarter in the previous year, the business posted $1.38 earnings per share. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. Analysts predict that Edison International will post 4.94 EPS for the current year.

Edison International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 7th will be issued a $0.8275 dividend. The ex-dividend date is Tuesday, January 7th. This represents a $3.31 annualized dividend and a yield of 4.15%. This is a boost from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio (DPR) is currently 97.07%.

Insider Buying and Selling at Edison International

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

Hedge Funds Weigh In On Edison International

Institutional investors have recently bought and sold shares of the stock. Highline Wealth Partners LLC bought a new position in shares of Edison International in the third quarter worth about $26,000. Groupama Asset Managment raised its stake in Edison International by 0.8% during the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 237 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in Edison International during the second quarter valued at approximately $27,000. Eastern Bank bought a new position in shares of Edison International in the third quarter worth approximately $27,000. Finally, Farmers & Merchants Investments Inc. increased its stake in shares of Edison International by 53.8% in the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 140 shares in the last quarter. 88.95% of the stock is owned by institutional investors.

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.