Barclays Boosts Edison International (NYSE:EIX) Price Target to $91.00

Edison International (NYSE:EIX) had its price target boosted by Barclays from $80.00 to $91.00 in a research report released on Wednesday, Benzinga reports. Barclays currently has an equal weight rating on the utilities provider’s stock.

A number of other brokerages also recently weighed in on EIX. UBS Group downgraded shares of Edison International from a buy rating to a neutral rating and lowered their target price for the company from $83.00 to $82.00 in a research note on Friday, July 19th. Morgan Stanley lifted their price objective on shares of Edison International from $62.00 to $68.00 and gave the stock an underweight rating in a report on Friday, August 23rd. Mizuho upped their target price on shares of Edison International from $75.00 to $85.00 and gave the stock a buy rating in a research report on Friday, May 17th. Argus raised their price target on Edison International from $78.00 to $82.00 and gave the company a buy rating in a research report on Wednesday, June 12th. Finally, Wells Fargo & Company upped their price objective on Edison International from $86.00 to $87.00 and gave the stock an overweight rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $82.36.

Edison International Stock Performance

NYSE EIX opened at $86.68 on Wednesday. The company’s 50 day simple moving average is $79.74 and its two-hundred day simple moving average is $74.23. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.03 and a quick ratio of 0.96. Edison International has a 1 year low of $58.82 and a 1 year high of $88.77. The stock has a market capitalization of $33.47 billion, a PE ratio of 38.02 and a beta of 0.91.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The business had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same period in the prior year, the company earned $1.01 EPS. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. Analysts predict that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 8th were paid a $0.78 dividend. The ex-dividend date was Monday, July 8th. This represents a $3.12 dividend on an annualized basis and a yield of 3.60%. Edison International’s dividend payout ratio (DPR) is currently 136.84%.

Insider Buying and Selling at Edison International

In other news, CEO J Andrew Murphy sold 1,362 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $85.00, for a total value of $115,770.00. Following the transaction, the chief executive officer now owns 19,850 shares in the company, valued at $1,687,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO J Andrew Murphy sold 1,362 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $85.00, for a total transaction of $115,770.00. Following the completion of the sale, the chief executive officer now directly owns 19,850 shares in the company, valued at approximately $1,687,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Natalie K. Schilling sold 2,341 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total transaction of $187,280.00. Following the completion of the sale, the vice president now directly owns 6,338 shares in the company, valued at approximately $507,040. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 89,099 shares of company stock worth $7,223,342. 1.03% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Equitable Trust Co. grew its position in shares of Edison International by 0.9% in the 2nd quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider’s stock worth $1,108,000 after buying an additional 132 shares during the last quarter. TIAA Trust National Association lifted its stake in Edison International by 2.0% in the second quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock worth $483,000 after acquiring an additional 134 shares during the period. Farmers & Merchants Investments Inc. boosted its holdings in Edison International by 53.8% in the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 140 shares in the last quarter. Asset Dedication LLC increased its position in Edison International by 37.5% during the 2nd quarter. Asset Dedication LLC now owns 550 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 150 shares during the period. Finally, Carson Advisory Inc. raised its holdings in Edison International by 0.3% in the 1st quarter. Carson Advisory Inc. now owns 54,625 shares of the utilities provider’s stock worth $3,864,000 after purchasing an additional 152 shares in the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

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.