Edison International’s (EIX) Outperform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Edison International (NYSE:EIX) in a research report report published on Monday, Benzinga reports. Royal Bank of Canada currently has a $94.00 target price on the utilities provider’s stock.

Several other brokerages have also commented on EIX. Wells Fargo & Company raised their price target on shares of Edison International from $86.00 to $87.00 and gave the company an overweight rating in a research note on Friday, July 26th. Bank of America assumed coverage on Edison International in a research note on Thursday, September 12th. They set a buy rating and a $95.00 target price on the stock. UBS Group increased their price target on Edison International from $86.00 to $89.00 and gave the stock a neutral rating in a research note on Wednesday, September 4th. Evercore ISI lifted their price objective on shares of Edison International from $82.00 to $88.00 and gave the company an outperform rating in a research note on Wednesday, August 14th. Finally, Argus increased their target price on shares of Edison International from $82.00 to $97.00 and gave the company a buy rating in a research report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $85.83.

Edison International Stock Down 0.9 %

Shares of Edison International stock opened at $85.29 on Monday. The stock has a market capitalization of $32.82 billion, a price-to-earnings ratio of 37.41 and a beta of 0.91. Edison International has a twelve month low of $58.82 and a twelve month high of $88.77. The company has a current ratio of 1.03, a quick ratio of 0.96 and a debt-to-equity ratio of 2.04. The business’s 50 day simple moving average is $81.91 and its 200-day simple moving average is $75.28.

Edison International (NYSE:EIX) last posted its earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. The company had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.12 billion. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business posted $1.01 earnings per share. Equities research analysts forecast that Edison International will post 4.96 earnings per share for the current year.

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, July 8th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.66%. The ex-dividend date was Monday, July 8th. Edison International’s dividend payout ratio is 136.84%.

Insider Activity at Edison International

In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the completion of the sale, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at $1,696,182.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO J Andrew Murphy sold 23,896 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $85.45, for a total value of $2,041,913.20. Following the completion of the sale, the chief executive officer now owns 19,850 shares in the company, valued at $1,696,182.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Natalie K. Schilling sold 2,341 shares of Edison International stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total value of $187,280.00. Following the transaction, the vice president now owns 6,338 shares in the company, valued at approximately $507,040. The disclosure for this sale can be found here. Insiders sold 89,099 shares of company stock worth $7,223,342 in the last quarter. 1.03% of the stock is owned by company insiders.

Institutional Trading of Edison International

Several institutional investors have recently made changes to their positions in the stock. Able Wealth Management LLC acquired a new position in Edison International in the 4th quarter valued at approximately $25,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Edison International during the 2nd quarter valued at $27,000. Global Trust Asset Management LLC acquired a new position in shares of Edison International in the first quarter worth $28,000. Country Trust Bank purchased a new stake in shares of Edison International during the second quarter worth $29,000. Finally, Farmers & Merchants Investments Inc. boosted its position in Edison International by 53.8% during the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 140 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

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.