Edison International (NYSE:EIX) Price Target Cut to $64.00 by Analysts at Barclays

Edison International (NYSE:EIX) had its price target lowered by Barclays from $65.00 to $64.00 in a research note released on Tuesday,Benzinga reports. The firm currently has an overweight rating on the utilities provider’s stock.

A number of other equities research analysts have also issued reports on EIX. Mizuho decreased their price target on Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Wells Fargo & Company lowered their target price on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target on the stock in a report on Wednesday, January 15th. UBS Group upgraded shares of Edison International from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $69.00 to $65.00 in a report on Tuesday, February 18th. Finally, Guggenheim downgraded shares of Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $76.75.

Edison International Trading Down 2.3 %

EIX stock opened at $52.40 on Tuesday. Edison International has a twelve month low of $49.06 and a twelve month high of $88.77. The stock has a market capitalization of $20.18 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 1.07 and a beta of 0.74. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The firm’s fifty day simple moving average is $54.62 and its two-hundred day simple moving average is $70.88.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.03). The firm had revenue of $17.60 billion for 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%. As a group, analysts anticipate that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The business 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 $0.8275 dividend. This represents a $3.31 annualized dividend and a dividend yield of 6.32%. The ex-dividend date is Monday, April 7th. Edison International’s payout ratio is 100.30%.

Institutional Investors Weigh In On Edison International

Institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its position in shares of Edison International by 6.8% during the first quarter. Rhumbline Advisers now owns 798,439 shares of the utilities provider’s stock valued at $47,044,000 after buying an additional 50,538 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Edison International by 154.5% during the 1st quarter. Parallel Advisors LLC now owns 9,490 shares of the utilities provider’s stock worth $559,000 after acquiring an additional 5,761 shares in the last quarter. Summit Global Investments lifted its position in Edison International by 154.0% during the first quarter. Summit Global Investments now owns 13,166 shares of the utilities provider’s stock valued at $776,000 after acquiring an additional 7,982 shares during the last quarter. GAMMA Investing LLC boosted its stake in Edison International by 4,157.4% in the first quarter. GAMMA Investing LLC now owns 145,179 shares of the utilities provider’s stock valued at $8,554,000 after acquiring an additional 141,769 shares in the last quarter. Finally, Nexus Investment Management ULC acquired a new stake in Edison International in the first quarter valued at approximately $219,000. Institutional investors 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.