Edison International (NYSE:EIX) Announces Dividend Increase – $0.83 Per Share

Edison International (NYSE:EIX) announced a quarterly dividend on Thursday, December 12th,RTT News reports. Stockholders of record on Tuesday, January 7th will be paid a dividend of 0.8275 per share by the utilities provider on Friday, January 31st. This represents a $3.31 annualized dividend and a dividend yield of 4.15%. The ex-dividend date is Tuesday, January 7th. This is a positive change from Edison International’s previous quarterly dividend of $0.78.

Edison International has increased its dividend by an average of 5.1% annually over the last three years and has raised its dividend annually for the last 22 consecutive years. Edison International has a dividend payout ratio of 58.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Edison International to earn $5.73 per share next year, which means the company should continue to be able to cover its $3.31 annual dividend with an expected future payout ratio of 57.8%.

Edison International Stock Down 0.3 %

NYSE:EIX opened at $79.80 on Friday. Edison International has a 1-year low of $63.15 and a 1-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 0.93. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The business’s fifty day moving average price is $82.76 and its 200 day moving average price is $81.68.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. The company 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 firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.38 EPS. On average, sell-side analysts forecast that Edison International will post 4.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

EIX has been the topic of several research analyst reports. Jefferies Financial Group began coverage on shares of Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 price target on the stock. Bank of America initiated coverage on Edison International in a research note on Thursday, September 12th. They issued a “buy” rating and a $95.00 target price on the stock. Argus raised their price target on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Royal Bank of Canada boosted their price target on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Finally, Morgan Stanley cut their price objective on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $88.00.

Insider Buying and Selling at Edison International

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the business’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.03% 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.