Edison International Announces Quarterly Dividend of $0.78 (NYSE:EIX)

Edison International (NYSE:EIX) declared a quarterly dividend on Monday, September 23rd, NASDAQ reports. Shareholders 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 is Monday, October 7th.

Edison International has raised its dividend by an average of 5.1% per year over the last three years and has increased its dividend annually for the last 21 consecutive years. Edison International has a dividend payout ratio of 55.6% meaning its dividend is sufficiently covered by earnings. Research 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 Price Performance

EIX stock traded down $0.16 during midday trading on Tuesday, reaching $85.94. The company had a trading volume of 1,735,114 shares, compared to its average volume of 2,014,398. Edison International has a 1-year low of $58.82 and a 1-year high of $88.77. The company has a market capitalization of $33.07 billion, a price-to-earnings ratio of 37.69, a price-to-earnings-growth ratio of 1.99 and a beta of 0.91. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.03 and a quick ratio of 0.96. The stock has a 50 day moving average price of $82.82 and a 200-day moving average price of $75.81.

Edison International (NYSE:EIX) last released its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. The firm had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.12 billion. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The business’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.01 EPS. Equities research analysts expect that Edison International will post 4.97 earnings per share for the current year.

Insider Buying and Selling

In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $85.45, for a total value of $2,041,913.20. Following the sale, the chief executive officer now directly owns 19,850 shares in the company, valued at $1,696,182.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the transaction, the chief executive officer now owns 19,850 shares of the company’s stock, valued at $1,696,182.50. The sale was disclosed in a filing with the SEC, which is accessible through 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 shares were 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 directly owns 6,338 shares of the company’s stock, valued at $507,040. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 89,099 shares of company stock worth $7,223,342. Company insiders own 1.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on EIX. Morgan Stanley boosted their target price on Edison International from $62.00 to $68.00 and gave the stock an “underweight” rating in a research report on Friday, August 23rd. Argus increased their target price on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Bank of America started coverage on Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 price objective for the company. Barclays lifted their price target on shares of Edison International from $80.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $94.00 price objective on shares of Edison International in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Edison International has a consensus rating of “Hold” and a consensus price target of $85.83.

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.