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

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 equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $85.83.

EIX has been the topic of several research reports. Guggenheim increased their target price on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Barclays lifted their price target on Edison International from $80.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 4th. Argus lifted their price target on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $94.00 price target on shares of Edison International in a research note on Monday, September 16th. Finally, Wells Fargo & Company raised their target price on shares of Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, July 26th.

Edison International Stock Performance

NYSE EIX opened at $85.43 on Monday. The stock has a market capitalization of $32.99 billion, a price-to-earnings ratio of 37.47, a PEG ratio of 1.99 and a beta of 0.91. 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 business’s 50 day moving average is $82.32 and its two-hundred day moving average is $75.47. Edison International has a 12-month low of $58.82 and a 12-month high of $88.77.

Edison International (NYSE:EIX) last issued its quarterly 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 company had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same quarter in the prior year, the company posted $1.01 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. Research analysts expect that Edison International will post 4.97 EPS for the current year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, July 8th were issued a dividend of $0.78 per share. The ex-dividend date was Monday, July 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.65%. Edison International’s dividend payout ratio (DPR) is presently 136.84%.

Insider Buying and Selling

In other Edison International news, CEO J Andrew Murphy sold 28,995 shares of Edison International stock in a transaction that occurred on Friday, July 26th. The shares were 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 transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, VP Natalie K. Schilling sold 2,341 shares of the company’s 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 directly owns 6,338 shares of the company’s stock, valued at $507,040. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO J Andrew Murphy sold 28,995 shares of the company’s stock in a transaction 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 directly owns 19,660 shares in the company, valued at $1,541,933.80. The disclosure for this sale can be found here. Insiders have sold a total of 89,099 shares of company stock valued at $7,223,342 over the last quarter. Corporate insiders own 1.03% of the company’s stock.

Hedge Funds Weigh In On Edison International

A number of hedge funds have recently modified their holdings of EIX. Janney Montgomery Scott LLC boosted its holdings in Edison International by 7.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 114,115 shares of the utilities provider’s stock worth $8,158,000 after purchasing an additional 7,919 shares in the last quarter. Quadrant Capital Group LLC grew its stake in shares of Edison International by 9.8% during the fourth quarter. Quadrant Capital Group LLC now owns 3,316 shares of the utilities provider’s stock valued at $237,000 after purchasing an additional 297 shares during the last quarter. Meridian Wealth Management LLC bought a new stake in shares of Edison International during the fourth quarter valued at approximately $277,000. Kentucky Retirement Systems boosted its stake in Edison International by 4.5% in the fourth quarter. Kentucky Retirement Systems now owns 30,667 shares of the utilities provider’s stock valued at $2,192,000 after acquiring an additional 1,317 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund boosted its stake in Edison International by 4.2% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 13,655 shares of the utilities provider’s stock valued at $976,000 after acquiring an additional 551 shares during the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

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.