Edison International (NYSE:EIX) Price Target Increased to $97.00 by Analysts at Argus

Edison International (NYSE:EIX) had its price target increased by Argus from $82.00 to $97.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a buy rating on the utilities provider’s stock.

Several other equities analysts also recently issued reports on EIX. Wells Fargo & Company boosted 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. UBS Group upped their target price on Edison International from $86.00 to $89.00 and gave the stock a neutral rating in a research report on Wednesday, September 4th. Morgan Stanley upped 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. Mizuho upped their target price on Edison International from $75.00 to $85.00 and gave the stock a buy rating in a research report on Friday, May 17th. Finally, Evercore ISI upped their target price on Edison International from $82.00 to $88.00 and gave the stock an outperform rating in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $84.67.

Edison International Stock Performance

Shares of NYSE EIX opened at $85.42 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 0.96 and a debt-to-equity ratio of 2.04. The stock has a 50 day simple moving average of $81.06 and a 200-day simple moving average of $74.89. The company has a market cap of $32.99 billion, a PE ratio of 37.47 and a beta of 0.91. Edison International has a 12-month low of $58.82 and a 12-month high of $88.77.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.18. The business had revenue of $4.34 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the firm posted $1.01 earnings per share. On average, equities research analysts forecast that Edison International will post 4.96 EPS for the current year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 8th were issued a $0.78 dividend. The ex-dividend date of this dividend was Monday, July 8th. This represents a $3.12 annualized dividend and a dividend yield of 3.65%. Edison International’s dividend payout ratio is currently 136.84%.

Insider Buying and Selling at Edison International

In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the completion of the sale, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at $1,696,182.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Edison International news, VP Natalie K. Schilling sold 2,341 shares of Edison International stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the transaction, the vice president now directly owns 6,338 shares in the company, valued at approximately $507,040. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO J Andrew Murphy sold 23,896 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $85.45, for a total transaction 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 89,099 shares of company stock valued at $7,223,342. Corporate insiders own 1.03% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of EIX. Able Wealth Management LLC purchased a new stake in Edison International in the 4th quarter worth about $25,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Edison International in the second quarter worth approximately $27,000. Global Trust Asset Management LLC acquired a new stake in shares of Edison International during the first quarter worth approximately $28,000. Country Trust Bank purchased a new position in Edison International during the second quarter valued at approximately $29,000. Finally, Farmers & Merchants Investments Inc. increased its stake in Edison International by 53.8% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after buying an additional 140 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

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.