Edison International (NYSE:EIX) Announces Quarterly Dividend of $0.83

Edison International (NYSE:EIX) declared a quarterly dividend on Thursday, February 27th, RTT News reports. Stockholders of record on Monday, April 7th will be given a dividend of 0.8275 per share by the utilities provider on Wednesday, April 30th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.44%.

Edison International has raised its dividend by an average of 5.6% per year over the last three years and has increased its dividend every year for the last 22 years. Edison International has a payout ratio of 54.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Edison International to earn $5.76 per share next year, which means the company should continue to be able to cover its $3.31 annual dividend with an expected future payout ratio of 57.5%.

Edison International Price Performance

Shares of NYSE EIX traded down $1.19 during trading on Thursday, reaching $51.43. The company had a trading volume of 4,438,635 shares, compared to its average volume of 6,346,411. Edison International has a twelve month low of $49.06 and a twelve month high of $88.77. The stock has a market capitalization of $19.91 billion, a PE ratio of 15.08, a price-to-earnings-growth ratio of 1.07 and a beta of 0.90. The stock has a 50-day moving average price of $62.41 and a two-hundred day moving average price of $76.87. 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 (NYSE:EIX) last released its quarterly earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). Edison International had a return on equity of 13.17% and a net margin of 8.52%. As a group, sell-side analysts predict that Edison International will post 4.95 earnings per share for the current year.

Analyst Upgrades and Downgrades

EIX has been the subject of several analyst reports. UBS Group raised Edison International from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $69.00 to $65.00 in a research report on Tuesday, February 18th. Jefferies Financial Group began coverage on Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target for the company. Wells Fargo & Company increased their price target on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target for the company in a report on Wednesday, January 15th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $72.00 target price on shares of Edison International in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $80.11.

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.