Edison International (NYSE:EIX) Price Target Raised to $52.00

Edison International (NYSE:EIX) had its target price hoisted by Morgan Stanley from $48.00 to $52.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an underweight rating on the utilities provider’s stock.

A number of other research analysts also recently issued reports on EIX. UBS Group upgraded shares of Edison International from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $69.00 to $65.00 in a research report on Tuesday, February 18th. Wells Fargo & Company dropped their price target on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Barclays dropped their target price on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. Guggenheim downgraded shares of Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. Finally, LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price on the stock in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $76.82.

Edison International Stock Down 1.0 %

Shares of NYSE EIX opened at $58.32 on Thursday. The company has a market capitalization of $22.45 billion, a P/E ratio of 17.10, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87. Edison International has a 52-week low of $49.06 and a 52-week high of $88.77. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The company’s 50 day moving average price is $55.24 and its 200-day moving average price is $73.51.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). The firm had revenue of $17.60 billion during the quarter, compared to analyst estimates of $3.92 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. Equities analysts forecast that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be issued a dividend of $0.8275 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.31 annualized dividend and a yield of 5.68%. Edison International’s payout ratio is 100.30%.

Institutional Trading of Edison International

Institutional investors have recently made changes to their positions in the company. Swedbank AB grew its stake in shares of Edison International by 3.3% in the 4th quarter. Swedbank AB now owns 523,433 shares of the utilities provider’s stock worth $41,791,000 after acquiring an additional 16,614 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new stake in shares of Edison International in the 4th quarter worth $235,000. KBC Group NV grew its stake in shares of Edison International by 23.7% in the 4th quarter. KBC Group NV now owns 61,342 shares of the utilities provider’s stock worth $4,898,000 after acquiring an additional 11,764 shares in the last quarter. abrdn plc grew its stake in shares of Edison International by 19.5% in the 4th quarter. abrdn plc now owns 1,695,182 shares of the utilities provider’s stock worth $134,335,000 after acquiring an additional 276,656 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Edison International by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,416,770 shares of the utilities provider’s stock worth $192,955,000 after acquiring an additional 76,654 shares in the last quarter. Institutional investors own 88.95% of the company’s stock.

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.