Barclays Cuts Edison International (NYSE:EIX) Price Target to $65.00

Edison International (NYSE:EIX) had its target price cut by Barclays from $67.00 to $65.00 in a report issued on Monday morning,Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

Several other research analysts also recently weighed in on the company. Morgan Stanley cut their price target on Edison International from $71.00 to $48.00 and set an “underweight” rating for the company in a research note on Friday, February 14th. Wells Fargo & Company lowered their price target on Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $72.00 price target on shares of Edison International in a report on Wednesday, February 12th. Jefferies Financial Group began coverage on Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 price objective on the stock. Finally, Guggenheim cut Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.54.

Edison International Price Performance

Shares of NYSE:EIX opened at $55.22 on Monday. The stock’s 50 day moving average is $59.88 and its 200-day moving average is $75.87. Edison International has a twelve month low of $49.06 and a twelve month high of $88.77. The firm has a market capitalization of $21.38 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 1.07 and a beta of 0.90. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Thursday, February 27th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). The business had revenue of $17.60 billion during the quarter, compared to the consensus estimate of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. Sell-side analysts forecast that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be paid a $0.8275 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.31 annualized dividend and a yield of 5.99%. Edison International’s payout ratio is 100.30%.

Institutional Investors Weigh In On Edison International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Crews Bank & Trust bought a new stake in Edison International in the fourth quarter worth $25,000. Larson Financial Group LLC grew its position in shares of Edison International by 125.0% during the third 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 Edison International during the third quarter valued at approximately $32,000. Darwin Wealth Management LLC bought a new position in Edison International during the third quarter valued at approximately $35,000. Finally, Sierra Ocean LLC bought a new position in Edison International during the fourth quarter valued at approximately $33,000. 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.