Edison International (NYSE:EIX) Reaches New 12-Month Low on Analyst Downgrade

Shares of Edison International (NYSE:EIX) hit a new 52-week low during trading on Tuesday after Barclays lowered their price target on the stock from $84.00 to $76.00. Barclays currently has an overweight rating on the stock. Edison International traded as low as $55.27 and last traded at $57.09, with a volume of 17334754 shares traded. The stock had previously closed at $65.00.

Other research analysts have also issued research reports about the company. Morgan Stanley decreased their target price on Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. Royal Bank of Canada boosted their target price on shares of Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Jefferies Financial Group initiated coverage on shares of Edison International in a research report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target on the stock. Wells Fargo & Company boosted their price objective on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, UBS Group cut their target price on shares of Edison International from $96.00 to $87.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. One research 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 MarketBeat, Edison International has a consensus rating of “Moderate Buy” and an average target price of $87.33.

Insiders Place Their Bets

In other news, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were 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 Securities & Exchange Commission, which is available through this link. 1.03% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Edison International

A number of institutional investors have recently added to or reduced their stakes in the company. Highline Wealth Partners LLC bought a new stake in shares of Edison International in the 3rd quarter worth $26,000. Groupama Asset Managment grew its holdings in Edison International by 0.8% during the third 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 bought a new stake in Edison International in the second quarter worth about $27,000. Eastern Bank acquired a new stake in Edison International in the 3rd quarter valued at about $27,000. Finally, 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 valued at $31,000 after purchasing an additional 195 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Stock Performance

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 company’s 50-day moving average price is $80.71 and its two-hundred day moving average price is $81.62. The company has a market cap of $22.65 billion, a P/E ratio of 17.16, a price-to-earnings-growth ratio of 1.96 and a beta of 0.93.

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, topping analysts’ consensus estimates of $1.38 by $0.13. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period last year, the firm posted $1.38 earnings per share. As a group, equities analysts forecast that Edison International will post 4.94 earnings per share for the current year.

Edison International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th will be given a dividend of $0.8275 per share. 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. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.66%. Edison International’s payout ratio is 97.07%.

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.