Edison International (NYSE:EIX) Receives $83.58 Average Target Price from Analysts

Shares of Edison International (NYSE:EIXGet Free Report) have been assigned an average recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $83.58.

EIX has been the topic of a number of recent research reports. LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price on the stock in a research report on Wednesday, January 15th. Morgan Stanley decreased their price objective on Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Wells Fargo & Company increased their price target on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Royal Bank of Canada increased their price objective on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Finally, UBS Group cut their target price on shares of Edison International from $87.00 to $69.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th.

Read Our Latest Research Report on Edison International

Edison International Stock Performance

EIX opened at $62.24 on Friday. 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 company has a market cap of $24.10 billion, a PE ratio of 18.25, a price-to-earnings-growth ratio of 1.29 and a beta of 0.93. The stock has a 50-day moving average of $79.08 and a 200-day moving average of $81.35. Edison International has a 52-week low of $55.27 and a 52-week high of $88.77.

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

Edison International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th will be issued a dividend of $0.8275 per share. 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 5.32%. The ex-dividend date of this dividend is Tuesday, January 7th. Edison International’s payout ratio is currently 97.07%.

Insider Activity

In related news, VP Adam S. Umanoff sold 25,619 shares of the business’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.20% of the company’s stock.

Institutional Trading of Edison International

A number of institutional investors have recently bought and sold shares of the business. Highline Wealth Partners LLC bought a new position in shares of Edison International in the 3rd quarter worth $26,000. Groupama Asset Managment lifted its stake in Edison International by 0.8% in the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock valued at $26,000 after buying an additional 237 shares during the period. Eastern Bank bought a new position in Edison International during the third quarter worth about $27,000. Larson Financial Group LLC grew its position in shares of Edison International by 125.0% during the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after buying an additional 195 shares during the period. Finally, Prospera Private Wealth LLC acquired a new position in shares of Edison International during the 3rd quarter worth about $32,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

About Edison International

(Get Free Report

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.

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Analyst Recommendations for Edison International (NYSE:EIX)

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