Edison International (NYSE:EIX) PT Raised to $83.00 at Guggenheim

Edison International (NYSE:EIX) had its target price raised by Guggenheim from $80.00 to $83.00 in a report issued on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the utilities provider’s stock.

Other equities analysts have also recently issued research reports about the stock. Wells Fargo & Company increased their price objective on shares of Edison International from $86.00 to $87.00 and gave the company an overweight rating in a research note on Friday. Barclays increased their price objective on shares of Edison International from $72.00 to $75.00 and gave the company an equal weight rating in a research note on Thursday, May 2nd. The Goldman Sachs Group assumed coverage on shares of Edison International in a research report on Wednesday, April 10th. They set a neutral rating and a $78.00 target price for the company. Argus increased their target price on shares of Edison International from $78.00 to $82.00 and gave the stock a buy rating in a research report on Wednesday, June 12th. Finally, UBS Group cut shares of Edison International from a buy rating to a neutral rating and dropped their target price for the stock from $83.00 to $82.00 in a research report on Friday, July 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $77.82.

Edison International Price Performance

Shares of Edison International stock opened at $78.51 on Friday. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.00 and a quick ratio of 0.93. Edison International has a fifty-two week low of $58.82 and a fifty-two week high of $79.50. The firm has a fifty day moving average price of $73.81 and a two-hundred day moving average price of $70.88. The company has a market cap of $30.21 billion, a PE ratio of 34.43 and a beta of 0.91.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.01. Edison International had a net margin of 6.60% and a return on equity of 13.07%. The firm had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.16 billion. During the same period in the prior year, the firm earned $1.09 EPS. The business’s revenue was up 2.8% on a year-over-year basis. Analysts expect that Edison International will post 4.92 EPS for the current year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 8th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend is Monday, July 8th. Edison International’s dividend payout ratio (DPR) is presently 136.84%.

Insider Activity

In other news, CEO J Andrew Murphy sold 58,099 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $75.01, for a total value of $4,358,005.99. Following the transaction, the chief executive officer now owns 19,660 shares of the company’s stock, valued at approximately $1,474,696.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO J Andrew Murphy sold 58,099 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $75.01, for a total value of $4,358,005.99. Following the transaction, the chief executive officer now owns 19,660 shares of the company’s stock, valued at approximately $1,474,696.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Caroline Choi sold 10,004 shares of Edison International stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $75.77, for a total transaction of $758,003.08. Following the transaction, the senior vice president now directly owns 26,918 shares in the company, valued at approximately $2,039,576.86. The disclosure for this sale can be found here. In the last quarter, insiders have sold 77,897 shares of company stock valued at $5,851,245. 1.03% of the stock is currently owned by insiders.

Institutional Trading of Edison International

Several hedge funds have recently bought and sold shares of EIX. Able Wealth Management LLC acquired a new stake in Edison International during the 4th quarter worth approximately $25,000. Global Trust Asset Management LLC acquired a new stake in Edison International during the 1st quarter worth approximately $28,000. Country Trust Bank acquired a new stake in Edison International during the 2nd quarter worth approximately $29,000. OFI Invest Asset Management acquired a new stake in Edison International during the 2nd quarter worth approximately $32,000. Finally, WASHINGTON TRUST Co raised its holdings in Edison International by 117.4% during the 4th quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock worth $36,000 after buying an additional 270 shares during the period. 88.95% of the stock is currently owned by institutional investors and hedge funds.

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.