Shares of Edison International (NYSE:EIX) gapped down prior to trading on Wednesday after Morgan Stanley lowered their price target on the stock from $96.00 to $82.00. The stock had previously closed at $76.28, but opened at $72.98. Morgan Stanley currently has an equal weight rating on the stock. Edison International shares last traded at $68.58, with a volume of 10717400 shares trading hands.

EIX has been the subject of several other research reports. SunTrust Banks restated a “buy” rating and issued a $85.00 price objective on shares of Edison International in a report on Thursday, December 7th. BidaskClub raised Edison International from a “sell” rating to a “hold” rating in a research report on Tuesday, August 22nd. Citigroup boosted their target price on Edison International from $84.00 to $87.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 17th. Royal Bank of Canada reaffirmed a “buy” rating and set a $84.00 target price on shares of Edison International in a research report on Sunday, September 17th. Finally, Deutsche Bank cut their target price on Edison International to $78.00 and set a “hold” rating on the stock in a research report on Wednesday, December 6th. Eleven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $83.77.

In other news, insider Ronald L. Litzinger sold 224,718 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $82.00, for a total transaction of $18,426,876.00. Following the sale, the insider now directly owns 14,121 shares of the company’s stock, valued at $1,157,922. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.41% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the stock. Prudential Financial Inc. raised its position in Edison International by 18.4% during the second quarter. Prudential Financial Inc. now owns 552,076 shares of the utilities provider’s stock valued at $43,167,000 after buying an additional 85,968 shares during the period. Capital International Investors acquired a new position in Edison International during the third quarter valued at $95,783,000. JPMorgan Chase & Co. raised its position in Edison International by 3.6% during the second quarter. JPMorgan Chase & Co. now owns 15,314,368 shares of the utilities provider’s stock valued at $1,197,430,000 after buying an additional 526,261 shares during the period. Principal Financial Group Inc. raised its position in Edison International by 1.9% during the second quarter. Principal Financial Group Inc. now owns 655,277 shares of the utilities provider’s stock valued at $51,236,000 after buying an additional 12,086 shares during the period. Finally, GAM Holding AG raised its position in Edison International by 8.0% during the second quarter. GAM Holding AG now owns 43,152 shares of the utilities provider’s stock valued at $3,374,000 after buying an additional 3,198 shares during the period. 81.36% of the stock is currently owned by hedge funds and other institutional investors.

The company has a current ratio of 0.51, a quick ratio of 0.47 and a debt-to-equity ratio of 0.80. The stock has a market cap of $23,777.70, a PE ratio of 16.62, a price-to-earnings-growth ratio of 2.65 and a beta of 0.23.

Edison International (NYSE:EIX) last issued its earnings results on Monday, October 30th. The utilities provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.10. Edison International had a return on equity of 10.84% and a net margin of 13.18%. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.53 billion. During the same quarter in the previous year, the company posted $1.29 earnings per share. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. sell-side analysts expect that Edison International will post 4.33 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th will be paid a $0.605 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $2.42 dividend on an annualized basis and a yield of 3.47%. This is an increase from Edison International’s previous quarterly dividend of $0.54. Edison International’s payout ratio is 48.98%.

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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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