Brokerages Set Edison International (NYSE:EIX) Price Target at $82.11

Shares of Edison International (NYSE:EIX) have received a consensus rating of “Moderate Buy” from the fourteen brokerages that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $80.11.

A number of analysts have commented on EIX shares. Wells Fargo & Company upped their price objective on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $72.00 target price on shares of Edison International in a report on Wednesday, February 12th. LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price on the stock in a report on Wednesday, January 15th. Morgan Stanley dropped their target price on Edison International from $71.00 to $48.00 and set an “underweight” rating on the stock in a report on Friday, February 14th. Finally, Barclays dropped their target price on Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd.

Hedge Funds Weigh In On Edison International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Edison International by 3.3% during the fourth quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider’s stock valued at $3,879,408,000 after purchasing an additional 1,559,501 shares during the last quarter. State Street Corp grew its holdings in Edison International by 0.7% during the third 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 last quarter. FMR LLC grew its holdings in 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 purchasing an additional 1,741,835 shares during the last quarter. Geode Capital Management LLC grew its holdings in Edison International by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 9,983,519 shares of the utilities provider’s stock valued at $795,123,000 after purchasing an additional 362,999 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Edison International by 53.9% during the fourth quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider’s stock valued at $459,642,000 after purchasing an additional 2,016,017 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Price Performance

EIX stock opened at $52.39 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. Edison International has a one year low of $49.06 and a one year high of $88.77. The firm has a market capitalization of $20.28 billion, a PE ratio of 15.36, a P/E/G ratio of 1.03 and a beta of 0.90. The firm has a 50-day moving average of $65.84 and a two-hundred day moving average of $78.08.

Edison International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, January 7th were issued a $0.8275 dividend. The ex-dividend date of this dividend was Tuesday, January 7th. This represents a $3.31 dividend on an annualized basis and a yield of 6.32%. This is an increase from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio is currently 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.