Analysts Set Edison International (NYSE:EIX) Target Price at $88.58

Shares of Edison International (NYSE:EIX) have been given an average recommendation of “Moderate Buy” by the twelve research firms that are currently covering the stock, Marketbeat Ratings reports. One research 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 twelve-month target price among brokerages that have issued a report on the stock in the last year is $88.58.

Several research firms have weighed in on EIX. Jefferies Financial Group began coverage on shares of Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target for the company. UBS Group decreased their target price on Edison International from $96.00 to $87.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Bank of America assumed coverage on Edison International in a report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price target on the stock. Morgan Stanley decreased their price objective on Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Finally, Wells Fargo & Company increased their target price on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th.

Insiders Place Their Bets

In related news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.03% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Edison International

Several large investors have recently modified their holdings of EIX. Lake Street Advisors Group LLC grew its stake in shares of Edison International by 4.3% during the third quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock valued at $263,000 after buying an additional 124 shares during the last quarter. Baker Tilly Wealth Management LLC increased its stake in Edison International by 2.8% in 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 lifted its position in Edison International by 0.3% in the third quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock valued at $3,721,000 after purchasing an additional 130 shares during the last quarter. Equitable Trust Co. boosted its stake in shares of Edison International by 0.9% during the second quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider’s stock valued at $1,108,000 after purchasing an additional 132 shares during the period. Finally, TIAA Trust National Association grew its holdings in shares of Edison International by 2.0% in the second 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 last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Stock Down 0.3 %

Shares of NYSE:EIX opened at $79.79 on Wednesday. The business’s 50-day moving average is $83.29 and its 200-day moving average is $81.44. Edison International has a 1 year low of $63.15 and a 1 year high of $88.77. The company has a market capitalization of $30.89 billion, a price-to-earnings ratio of 23.40, a P/E/G ratio of 1.96 and a beta of 0.92. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.13. The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company’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 earned $1.38 EPS. Equities research analysts predict that Edison International will post 4.94 earnings per share for the current year.

Edison International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 7th will be issued a dividend of $0.8275 per share. The ex-dividend date is Tuesday, January 7th. This is a boost from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 annualized dividend and a yield of 4.15%. Edison International’s payout ratio is 97.07%.

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.