Edison International (NYSE:EIX) to Issue $0.78 Quarterly Dividend

Edison International (NYSE:EIX) declared a quarterly dividend on Monday, September 23rd, NASDAQ reports. Investors of record on Monday, October 7th will be paid a dividend of 0.78 per share by the utilities provider on Thursday, October 31st. This represents a $3.12 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend is Monday, October 7th.

Edison International has increased its dividend by an average of 5.1% per year over the last three years and has raised its dividend every year for the last 21 years. Edison International has a payout ratio of 55.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Edison International to earn $5.65 per share next year, which means the company should continue to be able to cover its $3.12 annual dividend with an expected future payout ratio of 55.2%.

Edison International Stock Performance

EIX traded down $0.16 during mid-day trading on Tuesday, reaching $85.94. 1,735,114 shares of the company traded hands, compared to its average volume of 2,014,398. The company’s fifty day moving average price is $82.58 and its 200-day moving average price is $75.70. The stock has a market capitalization of $33.07 billion, a P/E ratio of 37.75, a P/E/G ratio of 1.99 and a beta of 0.91. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 2.04. Edison International has a 52-week low of $58.82 and a 52-week high of $88.77.

Edison International (NYSE:EIX) last posted its earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share 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 the consensus estimate of $4.12 billion. Edison International had a return on equity of 13.01% and a net margin of 6.60%. Edison International’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.01 earnings per share. On average, sell-side analysts expect that Edison International will post 4.97 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on EIX shares. Guggenheim raised their price objective on shares of Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Wells Fargo & Company upped their price objective on Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Argus lifted their target price on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Evercore ISI boosted their price target on Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Finally, Barclays raised their price objective on Edison International from $80.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Edison International presently has a consensus rating of “Hold” and a consensus price target of $85.83.

Insider Buying and Selling at Edison International

In other Edison International news, CEO J Andrew Murphy sold 1,362 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $85.00, for a total value of $115,770.00. Following the sale, the chief executive officer now owns 19,850 shares in the company, valued at approximately $1,687,250. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO J Andrew Murphy sold 1,362 shares of Edison International stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $85.00, for a total value of $115,770.00. Following the sale, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at $1,687,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Natalie K. Schilling sold 2,341 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total value of $187,280.00. Following the completion of the sale, the vice president now owns 6,338 shares in the company, valued at $507,040. The disclosure for this sale can be found here. Insiders sold a total of 89,099 shares of company stock valued at $7,223,342 in the last three months. 1.03% of the stock is currently owned by corporate insiders.

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.