UBS Group Increases Edison International (NYSE:EIX) Price Target to $89.00

Edison International (NYSE:EIX) had its target price hoisted by UBS Group from $86.00 to $89.00 in a report issued on Wednesday morning, Benzinga reports. UBS Group currently has a neutral rating on the utilities provider’s stock.

A number of other research firms have also commented on EIX. Mizuho boosted their price target on shares of Edison International from $75.00 to $85.00 and gave the company a buy rating in a research report on Friday, May 17th. Guggenheim boosted their target price on Edison International from $80.00 to $83.00 and gave the stock a buy rating in a research report on Friday, July 26th. Argus raised their price target on Edison International from $78.00 to $82.00 and gave the company a buy rating in a report on Wednesday, June 12th. Wells Fargo & Company boosted their price objective on Edison International from $86.00 to $87.00 and gave the stock an overweight rating in a report on Friday, July 26th. Finally, Evercore ISI raised their target price on shares of Edison International from $82.00 to $88.00 and gave the company an outperform rating in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Edison International presently has an average rating of Hold and an average target price of $82.36.

Edison International Stock Performance

Shares of EIX opened at $86.65 on Wednesday. Edison International has a 52-week low of $58.82 and a 52-week high of $88.77. The stock’s 50-day simple moving average is $79.74 and its 200 day simple moving average is $74.28. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03. The stock has a market capitalization of $33.46 billion, a price-to-earnings ratio of 38.00 and a beta of 0.91.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. The firm had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.12 billion. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.01 earnings per share. Research analysts forecast that Edison International will post 4.96 EPS for the current fiscal year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 8th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend was Monday, July 8th. Edison International’s payout ratio is currently 136.84%.

Insiders Place Their Bets

In other news, CEO J Andrew Murphy sold 23,896 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $85.45, for a total value of $2,041,913.20. Following the completion of the sale, the chief executive officer now owns 19,850 shares of the company’s stock, valued at approximately $1,696,182.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO J Andrew Murphy sold 23,896 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $85.45, for a total value of $2,041,913.20. Following the completion of the sale, the chief executive officer now owns 19,850 shares of the company’s stock, valued at approximately $1,696,182.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Natalie K. Schilling sold 2,341 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total value of $187,280.00. Following the transaction, the vice president now owns 6,338 shares in the company, valued at $507,040. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 89,099 shares of company stock valued at $7,223,342. 1.03% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Edison International

Institutional investors and hedge funds have recently bought and sold shares of the business. Able Wealth Management LLC purchased a new position in Edison International during the 4th quarter valued at $25,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Edison International during the 2nd quarter worth approximately $27,000. Global Trust Asset Management LLC bought a new position in shares of Edison International in the 1st quarter worth approximately $28,000. Country Trust Bank purchased a new position in shares of Edison International in the 2nd quarter valued at approximately $29,000. Finally, Farmers & Merchants Investments Inc. boosted its position in shares of Edison International by 53.8% during the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 140 shares in the last quarter. 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.