Edison International (NYSE:EIX) to Issue Dividend Increase – $0.83 Per Share

Edison International (NYSE:EIX) announced a quarterly dividend on Thursday, December 12th,RTT News reports. Investors of record on Tuesday, January 7th will be given a dividend of 0.8275 per share by the utilities provider on Friday, January 31st. This represents a $3.31 annualized dividend and a yield of 4.06%. This is a boost from Edison International’s previous quarterly dividend of $0.78.

Edison International has raised its dividend payment by an average of 5.1% annually over the last three years and has raised its dividend every year for the last 21 years. Edison International has a dividend payout ratio of 55.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Edison International to earn $5.73 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 54.5%.

Edison International Price Performance

Shares of NYSE:EIX opened at $81.62 on Friday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. Edison International has a 52 week low of $63.15 and a 52 week high of $88.77. The firm has a market cap of $31.60 billion, a PE ratio of 23.94, a price-to-earnings-growth ratio of 1.95 and a beta of 0.92. The firm’s fifty day moving average is $84.35 and its 200-day moving average is $81.06.

Edison International (NYSE:EIX) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.38 by $0.13. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.38 EPS. Sell-side analysts predict that Edison International will post 4.94 earnings per share for the current year.

Analysts Set New Price Targets

EIX has been the subject of a number of recent analyst reports. Wells Fargo & Company increased their target price on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Royal Bank of Canada increased their price objective on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Argus upped their price target on shares of Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. UBS Group lifted their price objective on Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Finally, Morgan Stanley cut their target price on Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $88.75.

Insider Activity at Edison International

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.03% of the stock is currently owned by insiders.

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.