Edison International (NYSE:EIX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Edison International (NYSE:EIX) have earned an average rating of “Moderate Buy” from the twelve brokerages that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $88.58.

EIX has been the subject of several research analyst reports. Wells Fargo & Company lifted their target price on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Morgan Stanley cut their target price on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. Barclays increased their target price on Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. UBS Group dropped their price target on Edison International from $96.00 to $87.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Finally, Jefferies Financial Group began coverage on Edison International in a research report on Thursday, November 7th. They set a “buy” rating and a $93.00 price objective on the stock.

Insider Buying and Selling at Edison International

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.03% of the company’s stock.

Hedge Funds Weigh In On Edison International

A number of hedge funds and other institutional investors have recently made changes to their positions in EIX. State Street Corp increased its position in Edison International by 0.7% during the 3rd quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock valued at $2,834,774,000 after purchasing an additional 224,337 shares during the period. FMR LLC increased its position in shares of Edison International by 8.7% during the third quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock valued at $1,898,638,000 after buying an additional 1,741,835 shares during the period. Geode Capital Management LLC raised its stake in Edison International by 2.2% in the third quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider’s stock worth $835,142,000 after buying an additional 210,461 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in Edison International by 0.5% in the second quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock worth $360,198,000 after buying an additional 24,834 shares during the period. Finally, American Century Companies Inc. boosted its position in Edison International by 1.8% during the 2nd quarter. American Century Companies Inc. now owns 3,864,399 shares of the utilities provider’s stock valued at $277,503,000 after acquiring an additional 67,089 shares in the last quarter. Institutional investors own 88.95% of the company’s stock.

Edison International Stock Down 0.3 %

EIX opened at $79.79 on Wednesday. The firm has a market capitalization of $30.89 billion, a P/E ratio of 23.40, a price-to-earnings-growth ratio of 1.96 and a beta of 0.92. Edison International has a one year low of $63.15 and a one year high of $88.77. The company has a fifty day moving average price of $83.29 and a 200-day moving average price of $81.55. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81.

Edison International (NYSE:EIX) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.01 billion. During the same period in the previous year, the business earned $1.38 earnings per share. The firm’s revenue was up 10.6% on a year-over-year basis. Equities research analysts expect that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th will be given a dividend of $0.8275 per share. The ex-dividend date is Tuesday, January 7th. This represents a $3.31 annualized dividend and a yield of 4.15%. This is a boost from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio is presently 97.07%.

About Edison International

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.