Morgan Stanley Cuts Edison International (NYSE:EIX) Price Target to $48.00

Edison International (NYSE:EIX) had its target price decreased by Morgan Stanley from $71.00 to $48.00 in a report issued on Friday,Benzinga reports. Morgan Stanley currently has an underweight rating on the utilities provider’s stock.

Several other research analysts have also commented on the company. Guggenheim lowered Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price on the stock in a report on Wednesday, January 15th. Wells Fargo & Company upped their price target on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. UBS Group dropped their price objective on shares of Edison International from $87.00 to $69.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $72.00 target price on shares of Edison International in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $80.39.

Edison International Price Performance

EIX opened at $50.11 on Friday. The company has a 50 day moving average of $67.14 and a two-hundred day moving average of $78.53. Edison International has a 52-week low of $49.06 and a 52-week high of $88.77. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The company has a market cap of $19.40 billion, a P/E ratio of 14.69, a P/E/G ratio of 1.05 and a beta of 0.90.

Edison International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th were paid a dividend of $0.8275 per share. The ex-dividend date of this dividend was Tuesday, January 7th. This represents a $3.31 annualized dividend and a yield of 6.61%. This is a boost from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio is presently 97.07%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Highline Wealth Partners LLC bought a new position in Edison International during the third quarter worth $26,000. Eastern Bank acquired a new stake in shares of Edison International during the third quarter worth $27,000. Crews Bank & Trust bought a new position in shares of Edison International in the 4th quarter worth about $25,000. Larson Financial Group LLC boosted its holdings in shares of Edison International by 125.0% in the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after buying an additional 195 shares during the period. Finally, Prospera Private Wealth LLC bought a new stake in shares of Edison International during the 3rd quarter valued at about $32,000. Institutional investors own 88.95% of the company’s stock.

About Edison International

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.