Edison International (NYSE:EIX) announced a quarterly dividend on Thursday, December 6th, RTT News reports. Shareholders of record on Monday, December 31st will be given a dividend of 0.6125 per share by the utilities provider on Thursday, January 31st. This represents a $2.45 annualized dividend and a dividend yield of 4.26%. This is an increase from Edison International’s previous quarterly dividend of $0.61.

Edison International has raised its dividend payment by an average of 15.2% annually over the last three years and has raised its dividend annually for the last 13 consecutive years. Edison International has a payout ratio of 58.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Edison International to earn $4.55 per share next year, which means the company should continue to be able to cover its $2.42 annual dividend with an expected future payout ratio of 53.2%.

Shares of NYSE:EIX traded down $0.19 during trading on Thursday, hitting $57.54. 2,848,804 shares of the company were exchanged, compared to its average volume of 2,632,587. The company has a market cap of $18.81 billion, a P/E ratio of 12.79, a P/E/G ratio of 2.35 and a beta of -0.01. Edison International has a 52-week low of $45.50 and a 52-week high of $73.31. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.72 and a quick ratio of 0.66.

Edison International (NYSE:EIX) last posted its earnings results on Tuesday, October 30th. The utilities provider reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.25. The firm had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $3.47 billion. Edison International had a return on equity of 10.61% and a net margin of 4.47%. The business’s quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.43 earnings per share. On average, analysts expect that Edison International will post 4.14 earnings per share for the current fiscal year.

Several research firms have issued reports on EIX. Morgan Stanley increased their target price on Edison International from $72.00 to $75.00 and gave the stock a “hold” rating in a research report on Tuesday, September 11th. Goldman Sachs Group set a $69.00 target price on Edison International and gave the stock a “hold” rating in a research report on Friday, September 14th. Bank of America downgraded Edison International from a “buy” rating to a “neutral” rating and increased their target price for the stock from $72.00 to $75.00 in a research report on Thursday, October 11th. Mizuho upgraded Edison International from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $62.00 to $57.50 in a research report on Wednesday, November 21st. Finally, Zacks Investment Research downgraded Edison International from a “buy” rating to a “hold” rating in a research report on Tuesday, October 16th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $70.54.

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About Edison International

Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.

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Dividend History for Edison International (NYSE:EIX)

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