Edison International (NYSE:EIX) Price Target Lowered to $65.00 at Barclays

Edison International (NYSE:EIX) had its price objective cut by Barclays from $67.00 to $65.00 in a report issued on Monday morning,Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

Several other brokerages have also recently issued reports on EIX. Jefferies Financial Group initiated coverage on shares of Edison International in a research report on Thursday, November 7th. They set a “buy” rating and a $93.00 target price on the stock. Guggenheim cut shares of Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. restated a “neutral” rating and set a $72.00 target price on shares of Edison International in a research report on Wednesday, February 12th. UBS Group upgraded shares of Edison International from a “neutral” rating to a “buy” rating and decreased their target price for the company from $69.00 to $65.00 in a research report on Tuesday, February 18th. Finally, Morgan Stanley decreased their target price on shares of Edison International from $71.00 to $48.00 and set an “underweight” rating on the stock in a research report on Friday, February 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Edison International has a consensus rating of “Moderate Buy” and an average target price of $77.25.

Edison International Stock Up 1.7 %

Shares of EIX stock opened at $55.34 on Monday. The stock has a market cap of $21.42 billion, a P/E ratio of 16.23, a PEG ratio of 1.07 and a beta of 0.90. 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’s fifty day simple moving average is $60.89 and its two-hundred day simple moving average is $76.21.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.03). The company had revenue of $17.60 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. Analysts predict that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be given a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.98%. The ex-dividend date of this dividend is Monday, April 7th. Edison International’s dividend payout ratio (DPR) is presently 100.30%.

Hedge Funds Weigh In On Edison International

A number of institutional investors have recently modified their holdings of the stock. Park Square Financial Group LLC purchased a new position in shares of Edison International during the fourth quarter worth approximately $112,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Edison International during the fourth quarter worth approximately $43,728,000. LifeWealth Investments LLC purchased a new position in shares of Edison International during the fourth quarter worth approximately $320,000. Heck Capital Advisors LLC purchased a new position in shares of Edison International during the fourth quarter worth approximately $65,000. Finally, Ameriflex Group Inc. purchased a new position in shares of Edison International during the fourth quarter worth approximately $56,000. 88.95% of the stock is owned by hedge funds and other 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.