Analysts Set Edison International (NYSE:EIX) Price Target at $88.58

Edison International (NYSE:EIX) has been given an average recommendation of “Moderate Buy” by the twelve analysts that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $88.58.

EIX has been the topic of several analyst reports. Morgan Stanley dropped their target price on Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Jefferies Financial Group assumed coverage on shares of Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target on the stock. Barclays raised their price objective on shares of Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Royal Bank of Canada upped their target price on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Finally, Wells Fargo & Company raised their price target 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.

Insider Transactions at Edison International

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.03% of the company’s stock.

Institutional Investors Weigh In On Edison International

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Highline Wealth Partners LLC purchased a new position in shares of Edison International in the third quarter worth approximately $26,000. Eastern Bank bought a new stake in shares of Edison International during the 3rd quarter valued at $27,000. Larson Financial Group LLC increased its stake in shares of Edison International by 125.0% in the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 195 shares in the last quarter. Prospera Private Wealth LLC bought a new position in Edison International in the 3rd quarter worth $32,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Edison International during the second quarter valued at $27,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Stock Down 0.3 %

Shares of Edison International stock opened at $79.79 on Wednesday. Edison International has a 1 year low of $63.15 and a 1 year high of $88.77. The firm has a market cap of $30.89 billion, a price-to-earnings ratio of 23.40, a PEG ratio of 1.96 and a beta of 0.92. The company has a 50-day moving average of $83.29 and a 200 day moving average of $81.55. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81.

Edison International (NYSE:EIX) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter last year, the firm earned $1.38 earnings per share. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th will be paid a dividend of $0.8275 per share. The ex-dividend date is Tuesday, January 7th. This is a positive change from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 dividend on an annualized basis and a yield of 4.15%. Edison International’s payout ratio is currently 97.07%.

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.