Edison International (NYSE:EIX) Receives $86.67 Average PT from Analysts

Shares of Edison International (NYSE:EIX) have been assigned an average rating of “Moderate Buy” from the twelve analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $86.67.

A number of equities research analysts have recently weighed in on the company. Guggenheim lifted their price objective on Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Wells Fargo & Company upped their price objective on Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Bank of America assumed coverage on Edison International in a report on Thursday, September 12th. They issued a “buy” rating and a $95.00 target price for the company. Morgan Stanley upped their price target on Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a report on Wednesday, September 25th. Finally, Argus lifted their price objective on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th.

Edison International Stock Performance

Shares of Edison International stock opened at $83.61 on Friday. The firm has a market cap of $32.29 billion, a PE ratio of 33.58, a price-to-earnings-growth ratio of 1.92 and a beta of 0.91. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 2.04. Edison International has a 52 week low of $61.64 and a 52 week high of $88.77. The business’s fifty day simple moving average is $84.94 and its 200-day simple moving average is $77.32.

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

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 7th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend is Monday, October 7th. Edison International’s payout ratio is 125.30%.

Insiders Place Their Bets

In related news, CEO J Andrew Murphy sold 32,505 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.12, for a total value of $2,604,300.60. Following the transaction, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at $1,575,159.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO J Andrew Murphy sold 32,505 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $80.12, for a total value of $2,604,300.60. Following the completion of the sale, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at approximately $1,575,159.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Natalie K. Schilling sold 2,341 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total transaction of $187,280.00. Following the transaction, the vice president now owns 6,338 shares in the company, valued at approximately $507,040. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,099 shares of company stock valued at $7,223,342. 1.03% of the stock is owned by corporate insiders.

Institutional Trading of Edison International

Hedge funds have recently modified their holdings of the business. Capital Research Global Investors grew its holdings in Edison International by 1.7% in the first quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider’s stock valued at $1,438,984,000 after purchasing an additional 345,189 shares during the last quarter. Pzena Investment Management LLC increased its holdings in Edison International by 2.3% during the 1st quarter. Pzena Investment Management LLC now owns 13,605,080 shares of the utilities provider’s stock valued at $962,287,000 after acquiring an additional 305,459 shares in the last quarter. Capital International Investors raised its position in Edison International by 6.4% during the first quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock worth $940,562,000 after acquiring an additional 795,950 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Edison International by 4.4% in the fourth quarter. Wellington Management Group LLP now owns 10,276,016 shares of the utilities provider’s stock valued at $734,632,000 after purchasing an additional 433,845 shares in the last quarter. Finally, Clearbridge Investments LLC grew its position in shares of Edison International by 0.5% in the second quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock valued at $360,198,000 after purchasing an additional 24,834 shares during the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

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.