Edison International (NYSE:EIX) Receives $76.82 Average PT from Analysts

Shares of Edison International (NYSE:EIX) have been given an average recommendation of “Moderate Buy” by the fifteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $76.82.

EIX has been the subject of several recent research reports. Barclays raised their price target on shares of Edison International from $64.00 to $67.00 and gave the company an “overweight” rating in a research report on Thursday, May 1st. Wolfe Research cut shares of Edison International from an “outperform” rating to a “peer perform” rating in a research report on Monday, June 9th. JPMorgan Chase & Co. decreased their price objective on shares of Edison International from $75.00 to $71.00 and set a “neutral” rating for the company in a research report on Monday, May 19th. Evercore ISI reaffirmed an “outperform” rating on shares of Edison International in a research report on Thursday, May 15th. Finally, Morgan Stanley decreased their price objective on shares of Edison International from $52.00 to $51.00 and set an “underweight” rating for the company in a research report on Wednesday, June 18th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in EIX. Proficio Capital Partners LLC acquired a new position in Edison International during the fourth quarter worth about $6,859,000. Independent Advisor Alliance grew its position in Edison International by 32.5% during the fourth quarter. Independent Advisor Alliance now owns 6,604 shares of the utilities provider’s stock worth $527,000 after buying an additional 1,619 shares during the period. HighTower Advisors LLC grew its position in Edison International by 1.8% during the fourth quarter. HighTower Advisors LLC now owns 39,932 shares of the utilities provider’s stock worth $3,188,000 after buying an additional 695 shares during the period. Sequoia Financial Advisors LLC grew its position in Edison International by 35.5% during the fourth quarter. Sequoia Financial Advisors LLC now owns 10,038 shares of the utilities provider’s stock worth $801,000 after buying an additional 2,631 shares during the period. Finally, Farther Finance Advisors LLC grew its position in Edison International by 92.0% during the fourth quarter. Farther Finance Advisors LLC now owns 2,752 shares of the utilities provider’s stock worth $220,000 after buying an additional 1,319 shares during the period. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Stock Down 1.0%

Edison International stock opened at $50.47 on Friday. Edison International has a fifty-two week low of $47.73 and a fifty-two week high of $88.77. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.89 and a current ratio of 0.96. The firm has a 50 day moving average price of $53.21 and a 200 day moving average price of $56.29. The company has a market capitalization of $19.42 billion, a PE ratio of 7.16, a price-to-earnings-growth ratio of 1.19 and a beta of 0.75.

Edison International (NYSE:EIX) last posted its earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.16. Edison International had a net margin of 16.84% and a return on equity of 13.21%. The firm had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter last year, the firm earned $1.13 EPS. The firm’s revenue for the quarter was down 6.5% on a year-over-year basis. Research analysts expect that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, July 7th will be paid a dividend of $0.8275 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.56%. Edison International’s dividend payout ratio (DPR) is 46.95%.

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.