Analysts Set Edison International (NYSE:EIX) Target Price at $88.36

Shares of Edison International (NYSE:EIX) have received a consensus rating of “Moderate Buy” from the twelve brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $88.75.

Several research analysts have recently weighed in on EIX shares. Barclays upped their price objective on Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Royal Bank of Canada raised their price target on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Guggenheim boosted their price objective on shares of Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Argus raised 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. Finally, Jefferies Financial Group initiated coverage on shares of Edison International in a research report on Thursday. They set a “buy” rating and a $93.00 price target on the stock.

Insider Activity at Edison International

In other news, CEO J Andrew Murphy sold 23,896 shares of the firm’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 owns 19,850 shares in the company, valued at approximately $1,696,182.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction on Thursday, October 31st. The stock was 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. Also, CEO J Andrew Murphy sold 23,896 shares of the business’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 approximately $1,696,182.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,878 shares of company stock worth $4,285,422. Company insiders own 1.03% of the company’s stock.

Institutional Trading of Edison International

Several hedge funds and other institutional investors have recently bought and sold shares of the business. M&G Plc bought a new position in Edison International during the 1st quarter worth $85,436,000. abrdn plc raised its stake in Edison International by 166.4% in the third quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock valued at $123,149,000 after purchasing an additional 885,955 shares in the last quarter. Capital International Investors raised its stake in Edison International by 6.4% in the first quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock valued at $940,562,000 after purchasing an additional 795,950 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in Edison International by 117.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 781,736 shares of the utilities provider’s stock worth $68,081,000 after purchasing an additional 422,752 shares during the period. Finally, Capital Research Global Investors grew its stake in Edison International by 1.7% during the first quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider’s stock worth $1,438,984,000 after buying an additional 345,189 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Performance

Shares of EIX stock opened at $83.10 on Tuesday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. Edison International has a 52 week low of $62.21 and a 52 week high of $88.77. The company’s 50 day moving average price is $84.99 and its two-hundred day moving average price is $79.18. The company has a market capitalization of $32.17 billion, a P/E ratio of 24.37, a price-to-earnings-growth ratio of 1.88 and a beta of 0.92.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.13. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the business posted $1.38 earnings per share. On average, analysts expect that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s dividend payout ratio (DPR) is presently 91.50%.

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.