Edison International (NYSE:EIX) Receives $77.40 Average PT from Analysts

Shares of Edison International (NYSE:EIXGet Free Report) have received a consensus rating of “Hold” from the eleven research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $77.40.

A number of research analysts recently weighed in on the company. Wells Fargo & Company raised Edison International from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $72.00 to $86.00 in a report on Tuesday, May 14th. Mizuho boosted their target price on Edison International from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Barclays boosted their target price on Edison International from $72.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. The Goldman Sachs Group initiated coverage on Edison International in a research report on Wednesday, April 10th. They set a “neutral” rating and a $78.00 target price on the stock. Finally, Argus boosted their target price on Edison International from $78.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, June 12th.

Read Our Latest Report on EIX

Edison International Trading Down 0.1 %

Shares of EIX stock opened at $71.53 on Wednesday. The business’s fifty day moving average price is $73.57 and its 200 day moving average price is $70.57. Edison International has a 1-year low of $58.82 and a 1-year high of $77.04. The firm has a market capitalization of $27.52 billion, a PE ratio of 31.37 and a beta of 0.91. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.00 and a quick ratio of 0.93.

Edison International (NYSE:EIXGet Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.01. Edison International had a return on equity of 12.48% and a net margin of 6.14%. The firm had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.16 billion. During the same quarter in the prior year, the company posted $1.09 earnings per share. Edison International’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, sell-side analysts forecast that Edison International will post 4.92 EPS for the current fiscal year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 8th will be given a $0.78 dividend. The ex-dividend date is Monday, July 8th. This represents a $3.12 annualized dividend and a dividend yield of 4.36%. Edison International’s dividend payout ratio is currently 136.84%.

Insider Activity

In other news, CEO J Andrew Murphy sold 9,794 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $75.07, for a total value of $735,235.58. Following the sale, the chief executive officer now directly owns 19,660 shares in the company, valued at $1,475,876.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Caroline Choi sold 10,004 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $75.77, for a total value of $758,003.08. Following the completion of the transaction, the senior vice president now directly owns 26,918 shares in the company, valued at $2,039,576.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO J Andrew Murphy sold 9,794 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $75.07, for a total value of $735,235.58. Following the completion of the transaction, the chief executive officer now owns 19,660 shares of the company’s stock, valued at $1,475,876.20. The disclosure for this sale can be found here. Insiders have sold 77,897 shares of company stock worth $5,851,245 over the last three months. 1.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Edison International

Several institutional investors have recently added to or reduced their stakes in the business. Carson Advisory Inc. increased its stake in Edison International by 0.3% in the first quarter. Carson Advisory Inc. now owns 54,625 shares of the utilities provider’s stock valued at $3,864,000 after purchasing an additional 152 shares during the last quarter. Cohen Capital Management Inc. increased its stake in Edison International by 0.5% during the first quarter. Cohen Capital Management Inc. now owns 35,744 shares of the utilities provider’s stock worth $2,528,000 after acquiring an additional 161 shares during the last quarter. Orion Portfolio Solutions LLC increased its stake in Edison International by 1.1% during the first quarter. Orion Portfolio Solutions LLC now owns 14,743 shares of the utilities provider’s stock worth $1,043,000 after acquiring an additional 161 shares during the last quarter. Meeder Advisory Services Inc. increased its stake in Edison International by 3.8% during the first quarter. Meeder Advisory Services Inc. now owns 4,496 shares of the utilities provider’s stock worth $318,000 after acquiring an additional 163 shares during the last quarter. Finally, Axxcess Wealth Management LLC increased its stake in Edison International by 2.6% during the third quarter. Axxcess Wealth Management LLC now owns 6,461 shares of the utilities provider’s stock worth $409,000 after acquiring an additional 164 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for Edison International (NYSE:EIX)

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