Edison International (NYSE:EIX) Rating Increased to Buy at UBS Group

UBS Group upgraded shares of Edison International (NYSE:EIX) from a neutral rating to a buy rating in a report published on Tuesday morning, MarketBeat.com reports. They currently have $65.00 target price on the utilities provider’s stock, down from their prior target price of $69.00.

Several other research analysts also recently weighed in on EIX. Barclays dropped their target price on Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Morgan Stanley dropped their target price on Edison International from $71.00 to $48.00 and set an “underweight” rating on the stock in a research note on Friday, February 14th. Guggenheim downgraded Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Jefferies Financial Group initiated coverage on Edison International in a research note on Thursday, November 7th. They set a “buy” rating and a $93.00 price target on the stock. Finally, Wells Fargo & Company boosted their price target on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $80.11.

Edison International Stock Up 2.2 %

Shares of EIX stock opened at $51.17 on Tuesday. Edison International has a 1-year low of $49.06 and a 1-year high of $88.77. The stock’s fifty day moving average price is $66.48 and its 200 day moving average price is $78.30. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The company has a market cap of $19.81 billion, a price-to-earnings ratio of 15.01, a price-to-earnings-growth ratio of 1.05 and a beta of 0.90.

Edison International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th were paid a $0.8275 dividend. This is an increase from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date was Tuesday, January 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.47%. Edison International’s dividend payout ratio is presently 97.07%.

Hedge Funds Weigh In On Edison International

A number of large investors have recently bought and sold shares of EIX. Norges Bank acquired a new position in Edison International in the 4th quarter worth about $323,443,000. Canada Pension Plan Investment Board raised its holdings in Edison International by 364.1% in the 4th quarter. Canada Pension Plan Investment Board now owns 3,369,535 shares of the utilities provider’s stock worth $269,024,000 after purchasing an additional 2,643,571 shares during the period. Northern Trust Corp raised its holdings in Edison International by 53.9% in the 4th quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider’s stock worth $459,642,000 after purchasing an additional 2,016,017 shares during the period. FMR LLC raised its holdings in Edison International by 8.7% in the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock worth $1,898,638,000 after purchasing an additional 1,741,835 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in Edison International by 149.3% in the 4th quarter. Ameriprise Financial Inc. now owns 2,793,795 shares of the utilities provider’s stock worth $223,057,000 after purchasing an additional 1,673,204 shares during the period. Institutional investors and hedge funds 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.