Edison International (NYSE:EIX) Given New $72.00 Price Target at Morgan Stanley

Edison International (NYSE:EIX) had its price target lowered by Morgan Stanley from $74.00 to $72.00 in a report issued on Friday,Benzinga reports. Morgan Stanley currently has an underweight rating on the utilities provider’s stock.

EIX has been the topic of several other research reports. Evercore ISI upped their price target on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Bank of America assumed coverage on shares of Edison International in a report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price target on the stock. UBS Group lifted their price objective on shares of Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Royal Bank of Canada increased their target price 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, Wells Fargo & Company lifted their price target on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $88.75.

Edison International Price Performance

EIX opened at $87.60 on Friday. 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 firm has a market cap of $33.91 billion, a P/E ratio of 25.69, a PEG ratio of 2.07 and a beta of 0.92. Edison International has a fifty-two week low of $63.15 and a fifty-two week high of $88.77. The firm has a 50-day moving average of $84.66 and a 200 day moving average of $80.26.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. The firm had revenue of $5.20 billion for 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 for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.38 EPS. On average, research analysts expect that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were paid a $0.78 dividend. The ex-dividend date was Monday, October 7th. This represents a $3.12 annualized dividend and a dividend yield of 3.56%. Edison International’s payout ratio is presently 91.50%.

Insider Activity

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.03% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Highline Wealth Partners LLC purchased a new stake in shares of Edison International during the third quarter valued at $26,000. Groupama Asset Managment boosted its stake in Edison International by 0.8% in the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 237 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in Edison International during the second quarter valued at $27,000. Eastern Bank purchased a new position in shares of Edison International during the third quarter valued at about $27,000. Finally, Country Trust Bank purchased a new position in Edison International during the 2nd quarter valued at approximately $29,000. Institutional investors own 88.95% of the company’s stock.

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.