Edison International (NYSE:EIX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Edison International (NYSE:EIX) has received a consensus recommendation of “Moderate Buy” from the twelve brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $88.75.

A number of equities analysts recently commented on the company. Argus increased their price target on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Barclays increased their price target on Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Morgan Stanley dropped their price target on Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. Royal Bank of Canada increased their price target on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Finally, Bank of America started coverage on Edison International in a research note on Thursday, September 12th. They set a “buy” rating and a $95.00 price target for the company.

Edison International Stock Performance

NYSE:EIX opened at $87.75 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. Edison International has a 12-month low of $63.15 and a 12-month high of $88.77. The stock has a 50-day moving average price of $84.89 and a 200 day moving average price of $80.56. The stock has a market capitalization of $33.97 billion, a P/E ratio of 25.73, a P/E/G ratio of 2.11 and a beta of 0.92.

Edison International (NYSE:EIX) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.01 billion. During the same quarter last year, the business posted $1.38 earnings per share. The firm’s revenue was up 10.6% on a year-over-year basis. Equities research analysts forecast that Edison International will post 4.94 EPS for the current fiscal year.

Edison International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date was Monday, October 7th. Edison International’s dividend payout ratio is currently 91.50%.

Insider Buying and Selling

In related news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.03% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Edison International

A number of institutional investors and hedge funds have recently modified their holdings of the business. Lake Street Advisors Group LLC increased its holdings in Edison International by 4.3% during the 3rd quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock worth $263,000 after purchasing an additional 124 shares during the period. Baker Tilly Wealth Management LLC increased its holdings in Edison International by 2.8% during the 3rd quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock worth $416,000 after purchasing an additional 129 shares during the period. SFE Investment Counsel increased its holdings in Edison International by 0.3% during the 3rd quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock worth $3,721,000 after purchasing an additional 130 shares during the period. Equitable Trust Co. increased its holdings in Edison International by 0.9% during the 2nd quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider’s stock worth $1,108,000 after purchasing an additional 132 shares during the period. Finally, TIAA Trust National Association increased its holdings in Edison International by 2.0% during the 2nd quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock worth $483,000 after purchasing an additional 134 shares during the period. 88.95% of the stock is owned by institutional investors.

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.