Morgan Stanley Cuts Edison International (NYSE:EIX) Price Target to $72.00

Edison International (NYSE:EIX) had its target price decreased by Morgan Stanley from $74.00 to $72.00 in a research note released on Friday morning,Benzinga reports. Morgan Stanley currently has an underweight rating on the utilities provider’s stock.

Several other equities analysts also recently weighed in on EIX. Guggenheim lifted their target price on Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Barclays lifted their price objective on shares of Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Jefferies Financial Group initiated coverage on shares of Edison International in a research report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target for the company. Bank of America assumed coverage on shares of Edison International in a research note on Thursday, September 12th. They issued a “buy” rating and a $95.00 price target for the company. Finally, UBS Group increased their price objective on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Edison International presently has an average rating of “Moderate Buy” and an average price target of $88.75.

Edison International Stock Down 0.7 %

Shares of NYSE:EIX opened at $86.48 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. Edison International has a 52-week low of $63.15 and a 52-week high of $88.77. The business has a fifty day moving average of $84.64 and a two-hundred day moving average of $80.17. The stock has a market cap of $33.48 billion, a P/E ratio of 25.36, a PEG ratio of 2.08 and a beta of 0.92.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.13. The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.38 earnings per share. On average, research analysts expect that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 annualized dividend and a dividend yield of 3.61%. Edison International’s dividend payout ratio is presently 91.50%.

Insider Activity

In related news, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.03% of the company’s stock.

Hedge Funds Weigh In On Edison International

A number of hedge funds and other institutional investors have recently made changes to their positions in EIX. O Shaughnessy Asset Management LLC grew its stake in shares of Edison International by 88.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 19,265 shares of the utilities provider’s stock valued at $1,363,000 after purchasing an additional 9,044 shares during the last quarter. Bessemer Group Inc. increased its stake in Edison International by 4.4% in the 1st quarter. Bessemer Group Inc. now owns 11,091 shares of the utilities provider’s stock valued at $784,000 after buying an additional 469 shares during the period. CreativeOne Wealth LLC purchased a new position in Edison International during the 1st quarter worth $230,000. EP Wealth Advisors LLC lifted its stake in shares of Edison International by 6.4% in the 1st quarter. EP Wealth Advisors LLC now owns 9,914 shares of the utilities provider’s stock worth $701,000 after acquiring an additional 595 shares during the period. Finally, Lazard Asset Management LLC lifted its stake in shares of Edison International by 7.4% in the 1st quarter. Lazard Asset Management LLC now owns 11,841 shares of the utilities provider’s stock worth $836,000 after acquiring an additional 819 shares during the period. Hedge funds and other institutional investors own 88.95% 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.