Edison International (NYSE:EIX) Given Average Rating of “Moderate Buy” by Analysts

Shares of Edison International (NYSE:EIX) have been assigned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $86.50.

EIX has been the subject of several research reports. Morgan Stanley lifted their price objective on Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a report on Wednesday, September 25th. Evercore ISI boosted their price objective on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Bank of America assumed coverage on shares of Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 target price for the company. Argus increased their price target on shares of Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Finally, UBS Group lifted their price objective on Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th.

Insider Activity

In related news, VP Natalie K. Schilling sold 2,341 shares of the business’s stock in a transaction that occurred on 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 directly owns 6,338 shares in the company, valued at approximately $507,040. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Edison International news, VP Natalie K. Schilling sold 2,341 shares of Edison International stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total value of $187,280.00. Following the transaction, the vice president now owns 6,338 shares in the company, valued at $507,040. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO J Andrew Murphy sold 23,896 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $85.45, for a total value of $2,041,913.20. Following the sale, the chief executive officer now owns 19,850 shares of the company’s stock, valued at approximately $1,696,182.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,099 shares of company stock valued at $7,223,342 in the last 90 days. 1.03% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Edison International

Hedge funds and other institutional investors have recently modified their holdings of the company. CreativeOne Wealth LLC purchased a new position in Edison International in the first quarter valued at approximately $230,000. Swedbank AB raised its stake in shares of 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 acquiring an additional 193,307 shares during the period. Brookstone Capital Management lifted its holdings in shares of Edison International by 3,503.3% during the 1st quarter. Brookstone Capital Management now owns 135,341 shares of the utilities provider’s stock valued at $9,573,000 after acquiring an additional 131,585 shares in the last quarter. Intech Investment Management LLC boosted its position in Edison International by 44.9% during the 1st quarter. Intech Investment Management LLC now owns 46,263 shares of the utilities provider’s stock worth $3,272,000 after purchasing an additional 14,346 shares during the period. Finally, Sei Investments Co. increased its holdings in Edison International by 14.5% in the 1st quarter. Sei Investments Co. now owns 321,567 shares of the utilities provider’s stock valued at $22,744,000 after purchasing an additional 40,646 shares in the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Edison International Trading Up 0.6 %

Shares of EIX stock opened at $85.07 on Friday. The business’s fifty day moving average price is $85.09 and its 200 day moving average price is $77.52. The firm has a market capitalization of $32.85 billion, a PE ratio of 34.16, a P/E/G ratio of 1.92 and a beta of 0.91. 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 $61.64 and a 1-year high of $88.77.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. The business had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.12 billion. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The business’s revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.01 EPS. As a group, sell-side analysts forecast that Edison International will post 4.97 EPS for the current fiscal year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, October 7th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.67%. The ex-dividend date is Monday, October 7th. Edison International’s dividend payout ratio (DPR) is 125.30%.

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.