Edison International (NYSE:EIX) Rating Lowered to “Neutral” at Guggenheim

Guggenheim cut shares of Edison International (NYSE:EIX) from a buy rating to a neutral rating in a research note released on Thursday, Marketbeat.com reports.

Several other research analysts have also recently issued reports on the company. Jefferies Financial Group began coverage on Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 price objective on the stock. Morgan Stanley cut their price target on Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Barclays lowered their price objective on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a research note on Thursday. Royal Bank of Canada raised their target price on shares of Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Finally, UBS Group lowered their target price on Edison International from $87.00 to $69.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $82.88.

Edison International Stock Performance

EIX stock opened at $58.71 on Thursday. Edison International has a twelve month low of $55.27 and a twelve month high of $88.77. The firm has a market cap of $22.73 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 1.20 and a beta of 0.93. The business’s fifty day simple moving average is $77.19 and its two-hundred day simple moving average is $80.86. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter last year, the business posted $1.38 EPS. Analysts predict that Edison International will post 4.94 earnings per share for the current year.

Edison International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th will be paid a dividend of $0.8275 per share. This is a boost from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Tuesday, January 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.64%. Edison International’s dividend payout ratio (DPR) is presently 97.07%.

Insider Buying and Selling

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 transaction of $2,127,657.95. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.03% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in EIX. Lake Street Advisors Group LLC increased its holdings in Edison International by 4.3% in the 3rd quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock worth $263,000 after acquiring an additional 124 shares in the last quarter. Baker Tilly Wealth Management LLC raised its position in shares of Edison International by 2.8% during the 3rd quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock worth $416,000 after purchasing an additional 129 shares during the last quarter. SFE Investment Counsel lifted its stake in Edison International by 0.3% in the 3rd quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock valued at $3,721,000 after buying an additional 130 shares in the last quarter. Assetmark Inc. increased its stake in Edison International by 32.9% during the 3rd quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock worth $55,000 after buying an additional 157 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC lifted its position in shares of Edison International by 2.1% in the third quarter. Dynamic Advisor Solutions LLC now owns 7,697 shares of the utilities provider’s stock valued at $670,000 after acquiring an additional 159 shares in the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

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.