Royal Bank of Canada Boosts Edison International (NYSE:EIX) Price Target to $100.00

Edison International (NYSE:EIX) had its price objective boosted by Royal Bank of Canada from $94.00 to $100.00 in a research note published on Friday, Benzinga reports. They currently have an outperform rating on the utilities provider’s stock.

A number of other research firms also recently issued reports on EIX. Evercore ISI lifted their price objective on shares of Edison International from $82.00 to $88.00 and gave the company an outperform rating in a report on Wednesday, August 14th. Guggenheim lifted their price target on shares of Edison International from $80.00 to $83.00 and gave the company a buy rating in a research note on Friday, July 26th. Barclays boosted 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 report on Wednesday, September 4th. Argus raised their price objective on Edison International from $82.00 to $97.00 and gave the company a buy rating in a report on Wednesday, September 11th. Finally, UBS Group upped their target price on Edison International from $86.00 to $89.00 and gave the stock a neutral rating in a report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Edison International has a consensus rating of Hold and an average price target of $86.67.

Edison International Price Performance

EIX stock opened at $84.68 on Friday. The stock has a 50-day moving average price of $84.56 and a two-hundred day moving average price of $76.80. Edison International has a 1 year low of $61.48 and a 1 year high of $88.77. The stock has a market cap of $32.70 billion, a PE ratio of 37.14, a price-to-earnings-growth ratio of 2.02 and a beta of 0.91. The company has a current ratio of 1.03, a quick ratio of 0.96 and a debt-to-equity ratio of 2.04.

Edison International (NYSE:EIX) last posted its quarterly earnings data 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. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The company had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same period in the prior year, the firm earned $1.01 earnings per share. Edison International’s revenue for the quarter was up 9.4% compared to the same quarter last year. Equities analysts forecast that Edison International will post 4.97 EPS for the current fiscal year.

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, October 7th will be given a $0.78 dividend. The ex-dividend date of this dividend is Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.68%. Edison International’s payout ratio is 136.84%.

Insider Buying and Selling

In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $85.45, for a total value of $2,041,913.20. Following the transaction, the chief executive officer now directly owns 19,850 shares in the company, valued at $1,696,182.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Natalie K. Schilling sold 2,341 shares of the 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 value of $2,041,913.20. Following the completion of the sale, the chief executive officer now owns 19,850 shares of the company’s stock, valued at $1,696,182.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,099 shares of company stock valued at $7,223,342. 1.03% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. CreativeOne Wealth LLC bought a new position in Edison International during the first quarter worth about $230,000. Swedbank AB grew its position in Edison International by 76.3% during the second quarter. Swedbank AB now owns 446,637 shares of the utilities provider’s stock worth $32,073,000 after buying an additional 193,307 shares in the last quarter. Brookstone Capital Management grew its position in Edison International by 3,503.3% during the first quarter. Brookstone Capital Management now owns 135,341 shares of the utilities provider’s stock worth $9,573,000 after buying an additional 131,585 shares in the last quarter. Intech Investment Management LLC increased its stake in Edison International by 44.9% during the 1st quarter. Intech Investment Management LLC now owns 46,263 shares of the utilities provider’s stock worth $3,272,000 after acquiring an additional 14,346 shares during the period. Finally, Sei Investments Co. raised its holdings in Edison International by 14.5% in the 1st quarter. Sei Investments Co. now owns 321,567 shares of the utilities provider’s stock valued at $22,744,000 after acquiring an additional 40,646 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.