Edison International (NYSE:EIX) Receives Consensus Rating of “Hold” from Analysts

Edison International (NYSE:EIX) has earned an average recommendation of “Hold” from the eleven research firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $77.40.

A number of research firms have recently commented on EIX. Argus upped their price objective on shares of Edison International from $78.00 to $82.00 and gave the company a “buy” rating in a research note on Wednesday, June 12th. Morgan Stanley dropped their price target on shares of Edison International from $64.00 to $61.00 and set an “underweight” rating for the company in a research report on Monday, June 24th. The Goldman Sachs Group initiated coverage on shares of Edison International in a report on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 price target on the stock. Wells Fargo & Company upgraded Edison International from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $72.00 to $86.00 in a report on Tuesday, May 14th. Finally, Barclays lifted their target price on Edison International from $72.00 to $75.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd.

Edison International Stock Performance

Shares of EIX opened at $71.63 on Wednesday. Edison International has a 1 year low of $58.82 and a 1 year high of $77.04. The company’s 50 day simple moving average is $73.46 and its 200 day simple moving average is $70.47. The company has a market capitalization of $27.56 billion, a price-to-earnings ratio of 31.42 and a beta of 0.91. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.93 and a current ratio of 1.00.

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

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 8th will be issued a dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, July 8th. This represents a $3.12 annualized dividend and a dividend yield of 4.36%. Edison International’s payout ratio is currently 136.84%.

Insider Buying and Selling

In other Edison International news, SVP Caroline Choi sold 10,004 shares of the stock in a transaction that occurred on 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 sale, the senior vice president now owns 26,918 shares of the company’s stock, valued at $2,039,576.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Caroline Choi sold 10,004 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $75.77, for a total value of $758,003.08. Following the transaction, the senior vice president now owns 26,918 shares in the company, valued at $2,039,576.86. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO J Andrew Murphy sold 58,099 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $75.01, for a total value of $4,358,005.99. Following the completion of the transaction, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at approximately $1,474,696.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 77,897 shares of company stock valued at $5,851,245. Corporate insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Carson Advisory Inc. lifted its position in shares of Edison International by 0.3% during the first quarter. Carson Advisory Inc. now owns 54,625 shares of the utilities provider’s stock worth $3,864,000 after purchasing an additional 152 shares during the last quarter. Cohen Capital Management Inc. lifted its holdings in Edison International by 0.5% during the 1st quarter. Cohen Capital Management Inc. now owns 35,744 shares of the utilities provider’s stock worth $2,528,000 after buying an additional 161 shares during the last quarter. Orion Portfolio Solutions LLC grew its position in shares of Edison International by 1.1% in the 1st quarter. Orion Portfolio Solutions LLC now owns 14,743 shares of the utilities provider’s stock worth $1,043,000 after acquiring an additional 161 shares in the last quarter. Meeder Advisory Services Inc. grew its position in shares of Edison International by 3.8% in the 1st quarter. Meeder Advisory Services Inc. now owns 4,496 shares of the utilities provider’s stock worth $318,000 after acquiring an additional 163 shares in the last quarter. Finally, Axxcess Wealth Management LLC increased its holdings in shares of Edison International by 2.6% in the 3rd quarter. Axxcess Wealth Management LLC now owns 6,461 shares of the utilities provider’s stock valued at $409,000 after acquiring an additional 164 shares during the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

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.