Edison International (NYSE:EIX) Announces Quarterly Dividend of $0.78

Edison International (NYSE:EIX) announced a quarterly dividend on Monday, September 23rd, NASDAQ reports. Stockholders of record on Monday, October 7th will be paid a dividend of 0.78 per share by the utilities provider on Thursday, October 31st. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend is Monday, October 7th.

Edison International has increased its dividend payment by an average of 5.1% annually over the last three years and has increased its dividend every year for the last 21 years. Edison International has a dividend payout ratio of 55.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Edison International to earn $5.65 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 55.2%.

Edison International Trading Down 0.2 %

NYSE:EIX traded down $0.16 during trading hours on Tuesday, reaching $85.94. The company’s stock had a trading volume of 1,735,114 shares, compared to its average volume of 2,014,398. 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 firm has a market capitalization of $33.07 billion, a price-to-earnings ratio of 37.75, a PEG ratio of 1.99 and a beta of 0.91. The firm has a 50-day simple moving average of $82.58 and a 200-day simple moving average of $75.70. Edison International has a 1 year low of $58.82 and a 1 year high of $88.77.

Edison International (NYSE:EIX) last released its earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. The company had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.12 billion. Edison International had a return on equity of 13.01% and a net margin of 6.60%. Edison International’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.01 EPS. Research analysts expect that Edison International will post 4.97 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

EIX has been the subject of several analyst reports. UBS Group increased their price target on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Guggenheim increased their target price on shares of Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Bank of America assumed coverage on Edison International in a report on Thursday, September 12th. They set a “buy” rating and a $95.00 price target on the stock. Argus increased their price objective on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Finally, Barclays boosted their target price on Edison International from $80.00 to $91.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Edison International has an average rating of “Hold” and a consensus price target of $85.83.

Insider Activity at Edison International

In other news, CEO J Andrew Murphy sold 28,995 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $78.43, for a total value of $2,274,077.85. Following the sale, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at approximately $1,541,933.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO J Andrew Murphy sold 28,995 shares of Edison International stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $78.43, for a total value of $2,274,077.85. Following the completion of the transaction, the chief executive officer now owns 19,660 shares of the company’s stock, valued at approximately $1,541,933.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Natalie K. Schilling sold 2,341 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the sale, the vice president now directly owns 6,338 shares in the company, valued at $507,040. The disclosure for this sale can be found here. Insiders sold a total of 89,099 shares of company stock valued at $7,223,342 in the last three months. Company insiders own 1.03% 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.