Edison International (NYSE:EIX) Receives $83.58 Average PT from Analysts

Shares of Edison International (NYSE:EIX) have earned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $82.88.

Several equities research analysts recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Edison International in a research note on Thursday, November 7th. They set a “buy” rating and a $93.00 price objective on the stock. Royal Bank of Canada raised their price objective on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Wells Fargo & Company boosted their target price on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. UBS Group reduced their price target on Edison International from $87.00 to $69.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Barclays dropped their price target on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a research note on Thursday.

Insider Buying and Selling at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.03% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in EIX. FMR LLC increased its stake in shares of Edison International by 8.7% in the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock worth $1,898,638,000 after purchasing an additional 1,741,835 shares in the last quarter. abrdn plc increased its position in Edison International by 166.4% in the third quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock worth $123,149,000 after buying an additional 885,955 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of Edison International by 117.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 781,736 shares of the utilities provider’s stock worth $68,081,000 after buying an additional 422,752 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Edison International by 595.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 318,672 shares of the utilities provider’s stock valued at $22,884,000 after buying an additional 272,876 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Edison International during the 2nd quarter valued at approximately $18,484,000. 88.95% of the stock is currently owned by institutional investors.

Edison International Stock Performance

Edison International stock opened at $58.71 on Friday. Edison International has a fifty-two week low of $55.27 and a fifty-two week high of $88.77. The stock 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 stock’s 50 day simple moving average is $77.19 and its two-hundred day simple moving average is $80.86. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $5.01 billion. During the same quarter in the prior year, the company earned $1.38 earnings per share. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, 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 announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th will be given a $0.8275 dividend. This represents a $3.31 annualized dividend and a yield of 5.64%. This is a boost from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date is Tuesday, January 7th. Edison International’s dividend payout ratio (DPR) is presently 97.07%.

Edison International Company Profile

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.