Brokerages Set Edison International (NYSE:EIX) Target Price at $88.36

Shares of Edison International (NYSE:EIX) have been assigned an average recommendation of “Moderate Buy” from the twelve analysts that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $88.75.

EIX has been the topic of several recent research reports. Wells Fargo & Company upped their price target on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. 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 research note on Friday, July 26th. Evercore ISI increased their target price on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. UBS Group increased their target price on shares of Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Finally, Barclays increased their target price on shares of Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th.

Insider Transactions at Edison International

In other news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO J Andrew Murphy sold 23,896 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the transaction, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at $1,696,182.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,878 shares of company stock worth $4,285,422 in the last 90 days. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Edison International

Hedge funds have recently made changes to their positions in the stock. Highline Wealth Partners LLC purchased a new position in Edison International in the 3rd quarter valued at approximately $26,000. Eastern Bank purchased a new position in Edison International in the 3rd quarter valued at approximately $27,000. Ashton Thomas Private Wealth LLC purchased a new position in Edison International in the 2nd quarter valued at approximately $27,000. Concord Wealth Partners boosted its position in Edison International by 277.0% in the 3rd quarter. Concord Wealth Partners now owns 377 shares of the utilities provider’s stock valued at $33,000 after buying an additional 277 shares during the period. Finally, Country Trust Bank purchased a new position in Edison International in the 2nd quarter valued at approximately $29,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Price Performance

NYSE:EIX opened at $81.47 on Tuesday. Edison International has a one year low of $62.21 and a one year high of $88.77. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The firm has a market cap of $31.54 billion, a price-to-earnings ratio of 23.89, a PEG ratio of 1.88 and a beta of 0.92. The firm’s fifty day moving average is $85.17 and its two-hundred day moving average is $79.08.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating the consensus estimate of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. During the same period in the prior year, the company earned $1.38 earnings per share. The firm’s revenue was up 10.6% on a year-over-year basis. Research analysts expect that Edison International will post 4.94 EPS for the current year.

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were issued a $0.78 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.83%. Edison International’s payout ratio is 91.50%.

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.