Edison International (NYSE:EIX) Earns “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Edison International (NYSE:EIX) in a research report sent to investors on Monday, Benzinga reports. Royal Bank of Canada currently has a $94.00 price target on the utilities provider’s stock.

Other equities research analysts also recently issued reports about the stock. UBS Group lifted their price objective on shares of Edison International from $86.00 to $89.00 and gave the stock a neutral rating in a research note on Wednesday, September 4th. Barclays boosted their price target on Edison International from $80.00 to $91.00 and gave the company an equal weight rating in a research note on Wednesday, September 4th. Evercore ISI raised their price objective on Edison International from $82.00 to $88.00 and gave the stock an outperform rating in a research note on Wednesday, August 14th. Wells Fargo & Company upped their target price on Edison International from $86.00 to $87.00 and gave the company an overweight rating in a research report on Friday, July 26th. Finally, Morgan Stanley raised their price target on shares of Edison International from $62.00 to $68.00 and gave the stock an underweight rating in a research report on Friday, August 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Edison International presently has a consensus rating of Hold and an average target price of $85.83.

Edison International Stock Performance

Shares of EIX opened at $84.19 on Monday. The company has a current ratio of 1.03, a quick ratio of 0.96 and a debt-to-equity ratio of 2.04. The firm has a market cap of $32.51 billion, a PE ratio of 36.93, a P/E/G ratio of 1.99 and a beta of 0.91. Edison International has a 12 month low of $58.82 and a 12 month high of $88.77. The stock has a fifty day moving average price of $82.10 and a 200-day moving average price of $75.34.

Edison International (NYSE:EIX) last released its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, beating 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 company had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same period last year, the business posted $1.01 earnings per share. The firm’s revenue was up 9.4% compared to the same quarter last year. Equities research analysts predict that Edison International will post 4.97 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. Investors of record on Monday, July 8th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a $3.12 annualized dividend and a dividend yield of 3.71%. Edison International’s dividend payout ratio (DPR) is presently 136.84%.

Insider Activity at Edison International

In other Edison International news, CEO J Andrew Murphy sold 28,995 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $78.43, for a total transaction of $2,274,077.85. Following the completion of the transaction, the chief executive officer now owns 19,660 shares of the company’s stock, valued at $1,541,933.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Edison International news, VP Natalie K. Schilling sold 2,341 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total value of $187,280.00. Following the completion of the sale, the vice president now owns 6,338 shares in the company, valued at approximately $507,040. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO J Andrew Murphy sold 28,995 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $78.43, for a total value of $2,274,077.85. Following the transaction, the chief executive officer now owns 19,660 shares in the company, valued at $1,541,933.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,099 shares of company stock valued at $7,223,342. 1.03% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Edison International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EIX. CreativeOne Wealth LLC purchased a new position in shares of Edison International during the 1st quarter worth $230,000. Kentucky Retirement Systems Insurance Trust Fund raised its stake in Edison International by 4.2% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 13,655 shares of the utilities provider’s stock worth $976,000 after purchasing an additional 551 shares during the period. Swedbank AB boosted its holdings in Edison International by 76.3% in the 2nd quarter. Swedbank AB now owns 446,637 shares of the utilities provider’s stock valued at $32,073,000 after purchasing an additional 193,307 shares during the last quarter. Norges Bank acquired a new position in Edison International in the 4th quarter valued at about $210,327,000. Finally, Brookstone Capital Management grew its stake in shares of Edison International by 3,503.3% in the 1st quarter. Brookstone Capital Management now owns 135,341 shares of the utilities provider’s stock valued at $9,573,000 after buying an additional 131,585 shares during the period. Institutional investors and hedge funds 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.