Edison International (NYSE:EIX) Hits New 1-Year Low Following Analyst Downgrade

Edison International (NYSE:EIX) reached a new 52-week low on Tuesday after Barclays lowered their price target on the stock from $84.00 to $76.00. Barclays currently has an overweight rating on the stock. Edison International traded as low as $55.27 and last traded at $57.09, with a volume of 17334754 shares. The stock had previously closed at $65.00.

EIX has been the topic of a number of other reports. Wells Fargo & Company upped their target price on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Jefferies Financial Group started coverage on shares of Edison International in a research report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price objective for the company. Morgan Stanley decreased their target price on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. Royal Bank of Canada boosted their price target on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Finally, UBS Group reduced their price target on Edison International from $96.00 to $87.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Edison International has an average rating of “Moderate Buy” and a consensus target price of $87.33.

Insider Buying and Selling at Edison International

In other Edison International 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 this link. 1.03% of the stock is owned by company insiders.

Hedge Funds Weigh In On Edison International

Several hedge funds and other institutional investors have recently made changes to their positions in EIX. Lake Street Advisors Group LLC grew its position in Edison International by 4.3% in the third quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock valued at $263,000 after acquiring an additional 124 shares in the last quarter. Baker Tilly Wealth Management LLC boosted its stake in shares of Edison International by 2.8% in the third quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock valued at $416,000 after purchasing an additional 129 shares during the period. SFE Investment Counsel grew its holdings in Edison International by 0.3% during the 3rd quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock valued at $3,721,000 after purchasing an additional 130 shares in the last quarter. Assetmark Inc. increased its stake in Edison International by 32.9% during the 3rd quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock worth $55,000 after buying an additional 157 shares during the period. Finally, Dynamic Advisor Solutions LLC lifted its holdings in Edison International by 2.1% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 7,697 shares of the utilities provider’s stock worth $670,000 after buying an additional 159 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Trading Up 2.2 %

The business’s 50-day simple moving average is $80.71 and its two-hundred day simple moving average is $81.62. 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 company has a market capitalization of $22.65 billion, a PE ratio of 17.16, a PEG ratio of 1.96 and a beta of 0.93.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter in the prior year, the business posted $1.38 earnings per share. Edison International’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, analysts predict that Edison International will post 4.94 earnings per share for the current year.

Edison International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 7th will be paid a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.66%. The ex-dividend date is Tuesday, January 7th. This is a positive change from Edison International’s previous quarterly dividend of $0.78. Edison International’s payout ratio is 97.07%.

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.