Edison International (EIX) to Issue Quarterly Dividend of $0.78 on July 31st

Edison International (NYSE:EIX) declared a quarterly dividend on Wednesday, June 26th, RTT News reports. Stockholders of record on Monday, July 8th will be given a dividend of 0.78 per share by the utilities provider on Wednesday, July 31st. This represents a $3.12 annualized dividend and a dividend yield of 4.33%. The ex-dividend date is Monday, July 8th.

Edison International has raised its dividend payment by an average of 5.1% per year over the last three years and has raised its dividend annually for the last 21 consecutive years. Edison International has a dividend payout ratio of 55.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Edison International to earn $5.58 per share next year, which means the company should continue to be able to cover its $3.12 annual dividend with an expected future payout ratio of 55.9%.

Edison International Trading Up 0.3 %

Edison International stock opened at $72.04 on Friday. The stock has a market cap of $27.72 billion, a P/E ratio of 31.60 and a beta of 0.95. Edison International has a 12 month low of $58.82 and a 12 month high of $77.04. The company’s fifty day simple moving average is $73.34 and its 200-day simple moving average is $70.41. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 2.04.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.01. The firm had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.16 billion. Edison International had a net margin of 6.14% and a return on equity of 12.48%. Edison International’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.09 earnings per share. As a group, sell-side analysts forecast that Edison International will post 4.92 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Caroline Choi sold 10,004 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $75.77, for a total value of $758,003.08. Following the completion of the transaction, the senior vice president now owns 26,918 shares of the company’s stock, valued at $2,039,576.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Edison International news, SVP Caroline Choi sold 10,004 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $75.77, for a total transaction of $758,003.08. Following the sale, the senior vice president now directly owns 26,918 shares of the company’s stock, valued at $2,039,576.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO J Andrew Murphy sold 58,099 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $75.01, for a total transaction of $4,358,005.99. Following the sale, the chief executive officer now directly owns 19,660 shares in the company, valued at $1,474,696.60. The disclosure for this sale can be found here. Insiders sold 77,897 shares of company stock valued at $5,851,245 over the last quarter. Corporate insiders own 1.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Morgan Stanley decreased their price objective on shares of Edison International from $64.00 to $61.00 and set an “underweight” rating for the company in a report on Monday. Wells Fargo & Company upgraded shares of Edison International from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $72.00 to $86.00 in a report on Tuesday, May 14th. Royal Bank of Canada decreased their price target on shares of Edison International from $81.00 to $80.00 and set an “outperform” rating for the company in a report on Thursday, March 7th. Argus upped their price target on shares of Edison International from $78.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday, June 12th. Finally, Barclays upped their price target on shares of Edison International from $72.00 to $75.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $77.40.

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.