Edison International (NYSE:EIX) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Edison International (NYSE:EIX) have been assigned a consensus rating of “Moderate Buy” from the twelve ratings firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $88.58.

A number of research analysts have commented on the stock. Wells Fargo & Company raised their price target on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Jefferies Financial Group assumed coverage on Edison International in a research report on Thursday, November 7th. They set a “buy” rating and a $93.00 target price for the company. Royal Bank of Canada upped their price target on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Bank of America assumed coverage on Edison International in a report on Thursday, September 12th. They set a “buy” rating and a $95.00 price objective for the company. Finally, Barclays upped their target price on shares of Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th.

Insider Activity

In related news, VP Adam S. Umanoff sold 25,619 shares of the business’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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.03% of the stock is currently owned by insiders.

Institutional Trading of Edison International

A number of institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. boosted its position in shares of Edison International by 6.4% in the 3rd quarter. Principal Financial Group Inc. now owns 459,194 shares of the utilities provider’s stock worth $39,991,000 after purchasing an additional 27,667 shares during the last quarter. Tidal Investments LLC lifted its stake in Edison International by 2.6% in the third quarter. Tidal Investments LLC now owns 18,719 shares of the utilities provider’s stock valued at $1,630,000 after buying an additional 476 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Edison International during the third quarter worth about $188,000. World Investment Advisors LLC bought a new position in Edison International during the third quarter worth about $221,000. Finally, Sanctuary Advisors LLC raised its holdings in Edison International by 11.9% in the third quarter. Sanctuary Advisors LLC now owns 31,940 shares of the utilities provider’s stock worth $2,762,000 after purchasing an additional 3,389 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Price Performance

Shares of NYSE:EIX opened at $80.26 on Wednesday. The business’s 50 day moving average is $83.71 and its 200-day moving average is $81.37. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $31.07 billion, a PE ratio of 23.54, a PEG ratio of 1.96 and a beta of 0.92. Edison International has a 1-year low of $63.15 and a 1-year high of $88.77.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share 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 firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter in the previous year, the company earned $1.38 earnings per share. The business’s revenue was up 10.6% compared to the same quarter last year. Sell-side analysts predict that Edison International will post 4.94 earnings per share for the current year.

Edison International Increases Dividend

The company also recently announced 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 is a boost from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend is Tuesday, January 7th. Edison International’s dividend payout ratio (DPR) is 97.07%.

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.