Morgan Stanley Increases Edison International (NYSE:EIX) Price Target to $52.00

Edison International (NYSE:EIX) had its target price lifted by Morgan Stanley from $48.00 to $52.00 in a research report report published on Thursday morning,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. Wells Fargo & Company cut their target price on shares of 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. restated a “neutral” rating and issued a $72.00 target price on shares of Edison International in a report on Wednesday, February 12th. LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price on the stock in a report on Wednesday, January 15th. Mizuho cut their price target on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. Finally, Barclays cut their price target on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $76.82.

Edison International Trading Down 1.0 %

Shares of Edison International stock opened at $58.32 on Thursday. Edison International has a 12-month low of $49.06 and a 12-month high of $88.77. The company has a market cap of $22.45 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 1.07 and a beta of 0.87. 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 $55.24 and its 200-day moving average price is $73.51.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company had revenue of $17.60 billion during the quarter, compared to analysts’ expectations of $3.92 billion. On average, equities analysts expect that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be given a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a dividend yield of 5.68%. The ex-dividend date of this dividend is Monday, April 7th. Edison International’s payout ratio is currently 100.30%.

Institutional Investors Weigh In On Edison International

Several hedge funds and other institutional investors have recently made changes to their positions in EIX. 111 Capital purchased a new stake in Edison International in the 4th quarter worth approximately $1,859,000. Wealth Enhancement Advisory Services LLC increased its holdings in Edison International by 159.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 52,692 shares of the utilities provider’s stock worth $4,207,000 after acquiring an additional 32,393 shares in the last quarter. Aegis Wealth Management LLC purchased a new stake in Edison International in the 4th quarter worth approximately $376,000. Probity Advisors Inc. increased its holdings in Edison International by 12.3% in the 4th quarter. Probity Advisors Inc. now owns 2,830 shares of the utilities provider’s stock worth $226,000 after acquiring an additional 309 shares in the last quarter. Finally, Park Square Financial Group LLC purchased a new stake in Edison International in the 4th quarter worth approximately $112,000. Hedge funds and other 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.