Edison International (EIX) Receives Average Recommendation of “Hold” from Analysts
Shares of Edison International (NYSE:EIX) have earned a consensus rating of “Hold” from the fifteen analysts that are presently covering the company, MarketBeat reports. Nine research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $84.20.
Several research firms recently weighed in on EIX. Royal Bank Of Canada restated a “buy” rating and set a $84.00 target price on shares of Edison International in a research note on Sunday, September 17th. Morgan Stanley boosted their target price on Edison International from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Friday, September 8th. Mizuho restated a “buy” rating and set a $87.00 target price (up previously from $84.00) on shares of Edison International in a research note on Wednesday, August 23rd. BidaskClub upgraded Edison International from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. Finally, BMO Capital Markets restated a “buy” rating and set a $85.00 target price on shares of Edison International in a research note on Thursday, August 17th.
In other Edison International news, insider Ronald L. Litzinger sold 224,715 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $80.54, for a total value of $18,098,546.10. Following the completion of the sale, the insider now owns 14,121 shares in the company, valued at $1,137,305.34. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.41% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Intl Fcstone Inc. purchased a new stake in Edison International in the second quarter valued at approximately $625,000. Brookfield Asset Management Inc. lifted its stake in Edison International by 14.8% in the second quarter. Brookfield Asset Management Inc. now owns 2,284,007 shares of the utilities provider’s stock valued at $178,587,000 after buying an additional 294,030 shares during the last quarter. Sentry Investment Management LLC lifted its stake in Edison International by 24.2% in the second quarter. Sentry Investment Management LLC now owns 20,504 shares of the utilities provider’s stock valued at $1,603,000 after buying an additional 4,000 shares during the last quarter. Toronto Dominion Bank lifted its stake in Edison International by 25.5% in the second quarter. Toronto Dominion Bank now owns 110,372 shares of the utilities provider’s stock valued at $8,628,000 after buying an additional 22,419 shares during the last quarter. Finally, Ecofin Ltd. lifted its stake in Edison International by 0.6% in the second quarter. Ecofin Ltd. now owns 30,727 shares of the utilities provider’s stock valued at $2,403,000 after buying an additional 179 shares during the last quarter. Institutional investors own 81.53% of the company’s stock.
Shares of Edison International (NYSE EIX) traded down 0.48% during trading on Friday, hitting $78.28. 1,275,912 shares of the company traded hands. The stock has a market capitalization of $25.50 billion, a PE ratio of 18.51 and a beta of 0.24. Edison International has a 52-week low of $67.44 and a 52-week high of $82.82. The company has a 50-day moving average of $80.05 and a 200-day moving average of $79.66.
Edison International (NYSE:EIX) last announced its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.85 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.85. Edison International had a return on equity of 10.58% and a net margin of 12.64%. The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same period in the previous year, the company posted $0.85 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. Equities analysts expect that Edison International will post $4.23 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be paid a $0.5425 dividend. This represents a $2.17 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend is Thursday, September 28th. Edison International’s dividend payout ratio is currently 50.82%.
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Edison International Company Profile
Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.
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