Edison International (EIX) PT Raised to $84.00
Edison International (NYSE:EIX) had its price target upped by equities research analysts at SunTrust Banks Inc. from $82.00 to $84.00 in a research note issued on Monday. The brokerage currently has a “buy” rating on the stock. SunTrust Banks Inc.’s price target points to a potential upside of 13.15% from the stock’s previous close.
Several other equities research analysts have also issued reports on the company. Deutsche Bank AG set a $78.00 price target on Edison International and gave the company a “hold” rating in a research report on Sunday, September 4th. Jefferies Group reissued a “hold” rating and set a $80.00 price target on shares of Edison International in a research report on Friday, September 2nd. BMO Capital Markets reissued an “outperform” rating and set a $82.00 price target (up from $79.00) on shares of Edison International in a research report on Monday, August 1st. Citigroup Inc. upped their price target on Edison International from $70.00 to $79.00 and gave the company a “neutral” rating in a research report on Wednesday, July 20th. Finally, Zacks Investment Research raised Edison International from a “sell” rating to a “hold” rating in a research report on Monday, July 11th. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Edison International currently has an average rating of “Hold” and a consensus target price of $78.04.
Edison International (NYSE:EIX) opened at 73.76 on Monday. Edison International has a 12 month low of $57.51 and a 12 month high of $78.72. The stock has a market capitalization of $24.03 billion, a price-to-earnings ratio of 27.35 and a beta of 0.17. The stock’s 50 day moving average is $73.77 and its 200-day moving average is $73.21.
Edison International (NYSE:EIX) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.97 by $0.12. The firm had revenue of $2.78 billion for the quarter, compared to analyst estimates of $3.18 billion. Edison International had a net margin of 8.56% and a return on equity of 9.13%. The business’s revenue was down 4.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.16 earnings per share. On average, equities research analysts expect that Edison International will post $3.89 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be paid a dividend of $0.48 per share. The ex-dividend date is Wednesday, September 28th. This represents a $1.92 annualized dividend and a yield of 2.59%. Edison International’s dividend payout ratio is currently 71.11%.
In related news, Director Ellen O. Tauscher sold 3,012 shares of the firm’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $71.87, for a total transaction of $216,472.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jagjeet S. Bindra sold 3,995 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $73.80, for a total value of $294,831.00. The disclosure for this sale can be found here. Corporate insiders own 1.51% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its position in shares of Edison International by 25.3% in the second quarter. JPMorgan Chase & Co. now owns 16,223,155 shares of the company’s stock valued at $1,260,052,000 after buying an additional 3,277,814 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Edison International by 8.0% in the second quarter. Vanguard Group Inc. now owns 24,445,643 shares of the company’s stock valued at $1,898,694,000 after buying an additional 1,811,159 shares in the last quarter. Brookfield Asset Management Inc. purchased a new position in shares of Edison International during the first quarter valued at $101,322,000. Lord Abbett & CO. LLC boosted its position in shares of Edison International by 81.7% in the second quarter. Lord Abbett & CO. LLC now owns 2,460,224 shares of the company’s stock valued at $191,086,000 after buying an additional 1,106,314 shares in the last quarter. Finally, Emerald Acquisition Ltd. purchased a new position in shares of Edison International during the second quarter valued at $80,013,000. 81.95% of the stock is owned by institutional investors and hedge funds.
Edison International Company Profile
Edison International is the parent holding company of Southern California Edison Company (SCE). SCE is engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. It is also the parent company of subsidiaries that are engaged in competitive businesses focused on providing energy services to commercial and industrial customers, including distributed resources, engaging in transmission opportunities, and exploring distributed water treatment and recycling.
Receive News & Stock Ratings for Edison International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edison International and related stocks with our FREE daily email newsletter.