Edison International (NYSE:EIX) Price Target Cut to $76.00 by Analysts at Barclays

Edison International (NYSE:EIX) had its price objective decreased by Barclays from $84.00 to $76.00 in a research note released on Monday,Benzinga reports. Barclays currently has an overweight rating on the utilities provider’s stock.

Several other equities research analysts have also recently weighed in on the company. UBS Group dropped their price objective on Edison International from $96.00 to $87.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. Jefferies Financial Group assumed coverage on shares of Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target on the stock. Wells Fargo & Company upped their price objective 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. Morgan Stanley cut their target price on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Finally, Royal Bank of Canada increased their price target on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Edison International currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.33.

Edison International Stock Performance

NYSE:EIX opened at $57.09 on Monday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. Edison International has a fifty-two week low of $55.27 and a fifty-two week high of $88.77. The firm has a market cap of $22.10 billion, a PE ratio of 16.74, a price-to-earnings-growth ratio of 1.96 and a beta of 0.93. The business has a 50 day moving average price of $81.18 and a 200-day moving average price of $81.71.

Edison International (NYSE:EIX) last announced 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 during the quarter, compared to analysts’ expectations of $5.01 billion. During the same quarter in the prior year, the company posted $1.38 EPS. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. Equities research analysts predict that Edison International will post 4.94 earnings per share for the current year.

Edison International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 7th will be given a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a yield of 5.80%. The ex-dividend date of this dividend is Tuesday, January 7th. This is a positive change from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio (DPR) is 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 dated Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.03% of the stock is owned by company insiders.

Institutional Trading of Edison International

Several institutional investors have recently bought and sold shares of the company. FMR LLC raised its holdings in Edison International by 8.7% in the third quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock worth $1,898,638,000 after buying an additional 1,741,835 shares during the last quarter. abrdn plc increased its position in shares of Edison International by 166.4% during the third quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock valued at $123,149,000 after acquiring an additional 885,955 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in Edison International by 117.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 781,736 shares of the utilities provider’s stock worth $68,081,000 after acquiring an additional 422,752 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Edison International by 595.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 318,672 shares of the utilities provider’s stock valued at $22,884,000 after acquiring an additional 272,876 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Edison International during the 2nd quarter valued at $18,484,000. 88.95% of the stock is owned by hedge funds and other institutional investors.

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.