Edison International (NYSE:EIX) Rating Increased to Overweight at Barclays

Barclays upgraded shares of Edison International (NYSE:EIX) from an equal weight rating to an overweight rating in a report released on Thursday morning, Marketbeat.com reports. Barclays currently has $84.00 price target on the utilities provider’s stock, down from their previous price target of $91.00.

Other analysts have also recently issued research reports about the stock. Bank of America started coverage on shares of Edison International in a research note on Thursday, September 12th. They issued a “buy” rating and a $95.00 price objective for the company. Wells Fargo & Company increased their target price on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Argus raised their price objective on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Jefferies Financial Group initiated coverage on Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 price target on the stock. Finally, Morgan Stanley lowered their price objective on Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

Edison International Trading Up 0.2 %

Shares of NYSE:EIX opened at $80.01 on Thursday. Edison International has a 52-week low of $63.15 and a 52-week high of $88.77. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The company has a market capitalization of $30.98 billion, a P/E ratio of 23.46, a price-to-earnings-growth ratio of 1.96 and a beta of 0.92. The company has a 50-day simple moving average of $82.84 and a 200 day simple moving average of $81.62.

Edison International (NYSE:EIX) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the firm posted $1.38 earnings per share. Sell-side analysts forecast that Edison International will post 4.94 earnings per share for the current year.

Edison International Increases Dividend

The company 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. This is a positive change from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Tuesday, January 7th. This represents a $3.31 annualized dividend and a yield of 4.14%. Edison International’s payout ratio is presently 97.07%.

Insiders Place Their Bets

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.03% of the company’s stock.

Institutional Trading of Edison International

Large investors have recently modified their holdings of the stock. Highline Wealth Partners LLC bought a new position in Edison International during the third quarter worth $26,000. Eastern Bank acquired a new position in shares of Edison International during the third quarter valued at about $27,000. Larson Financial Group LLC boosted its position in shares of Edison International by 125.0% during the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 195 shares in the last quarter. Prospera Private Wealth LLC bought a new position in shares of Edison International during the 3rd quarter worth about $32,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Edison International in the 2nd quarter valued at about $27,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

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.