Edison International (NYSE:EIX) Receives Average Rating of “Moderate Buy” from Analysts

Edison International (NYSE:EIX) has been assigned an average rating of “Moderate Buy” from the twelve analysts that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $88.75.

A number of research analysts have recently issued reports on the company. Bank of America assumed coverage on Edison International in a report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price target on the stock. Morgan Stanley cut their price target on Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Evercore ISI boosted their target price on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Wells Fargo & Company boosted their target price on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group began coverage on Edison International in a research note on Thursday, November 7th. They set a “buy” rating and a $93.00 target price on the stock.

Edison International Trading Down 0.7 %

Shares of NYSE:EIX opened at $87.75 on Friday. Edison International has a 12-month low of $63.15 and a 12-month high of $88.77. The business’s fifty day simple moving average is $84.89 and its 200-day simple moving average is $80.56. The company has a market capitalization of $33.97 billion, a PE ratio of 25.73, a P/E/G ratio of 2.11 and a beta of 0.92. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. During the same period last year, the business posted $1.38 EPS. The business’s revenue was up 10.6% compared to the same quarter last year. As a group, equities research analysts predict that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.56%. Edison International’s dividend payout ratio is currently 91.50%.

Insiders Place Their Bets

In other Edison International 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 transaction of $2,127,657.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.03% of the stock is currently owned by insiders.

Institutional Trading of Edison International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Edison International by 0.7% in the 3rd quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock valued at $2,834,774,000 after buying an additional 224,337 shares during the period. FMR LLC lifted its holdings in shares of Edison International by 8.7% in the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock valued at $1,898,638,000 after buying an additional 1,741,835 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Edison International by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider’s stock valued at $835,142,000 after buying an additional 210,461 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of Edison International by 0.5% in the 2nd quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock valued at $360,198,000 after buying an additional 24,834 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of Edison International by 1.8% in the 2nd quarter. American Century Companies Inc. now owns 3,864,399 shares of the utilities provider’s stock valued at $277,503,000 after buying an additional 67,089 shares during the period. Institutional investors and hedge funds own 88.95% 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.