Edison International (NYSE:EIX) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Edison International (NYSE:EIX) have received a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $83.58.

A number of brokerages have recently issued reports on EIX. Wells Fargo & Company upped their price objective on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Morgan Stanley decreased their price objective on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target for the company in a research note on Wednesday. UBS Group decreased their price target 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. Finally, Barclays cut their price objective on shares of Edison International from $84.00 to $76.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th.

Edison International Price Performance

EIX stock opened at $62.72 on Friday. The firm has a 50 day moving average of $79.50 and a 200-day moving average of $81.28. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. Edison International has a 12 month low of $55.27 and a 12 month high of $88.77. The firm has a market capitalization of $24.28 billion, a P/E ratio of 18.39, a price-to-earnings-growth ratio of 1.34 and a beta of 0.93.

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

Edison International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th will be paid a $0.8275 dividend. This represents a $3.31 annualized dividend and a dividend yield of 5.28%. The ex-dividend date is Tuesday, January 7th. This is a boost from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio is 97.07%.

Insiders Place Their Bets

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the firm’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 legal filing with the SEC, which is accessible through this hyperlink. 1.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Edison International

Institutional investors and hedge funds have recently modified their holdings of the stock. Highline Wealth Partners LLC bought a new stake in shares of Edison International during the third quarter valued at approximately $26,000. Groupama Asset Managment boosted its stake in Edison International by 0.8% during the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock worth $26,000 after buying an additional 237 shares during the period. Eastern Bank purchased a new position in Edison International during the third quarter worth $27,000. Larson Financial Group LLC boosted its stake in Edison International by 125.0% during the third 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 purchased a new stake in shares of Edison International during the third quarter valued at $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.