Edison International (NYSE:EIX) Given New $89.00 Price Target at UBS Group

Edison International (NYSE:EIX) had its price target upped by UBS Group from $86.00 to $89.00 in a research report released on Wednesday, Benzinga reports. They currently have a neutral rating on the utilities provider’s stock.

EIX has been the topic of a number of other reports. Argus increased their target price on Edison International from $78.00 to $82.00 and gave the stock a buy rating in a report on Wednesday, June 12th. Barclays raised their price objective on shares of Edison International from $80.00 to $91.00 and gave the company an equal weight rating in a research note on Wednesday. Guggenheim boosted their target price on shares of Edison International from $80.00 to $83.00 and gave the stock a buy rating in a research report on Friday, July 26th. Morgan Stanley raised their price target on shares of Edison International from $62.00 to $68.00 and gave the company an underweight rating in a research report on Friday, August 23rd. Finally, Wells Fargo & Company boosted their price objective on Edison International from $86.00 to $87.00 and gave the stock an overweight rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $82.36.

Edison International Trading Down 1.1 %

NYSE:EIX opened at $86.65 on Wednesday. Edison International has a 12 month low of $58.82 and a 12 month high of $88.77. 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 stock has a market capitalization of $33.46 billion, a price-to-earnings ratio of 38.00 and a beta of 0.91. The firm has a fifty day simple moving average of $79.74 and a two-hundred day simple moving average of $74.28.

Edison International (NYSE:EIX) last issued its earnings results on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $4.12 billion. During the same period last year, the business posted $1.01 EPS. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. Analysts expect that Edison International will post 4.96 EPS for the current fiscal year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, July 8th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.60%. The ex-dividend date was Monday, July 8th. Edison International’s dividend payout ratio is presently 136.84%.

Insider Buying and Selling

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

Hedge Funds Weigh In On Edison International

Institutional investors and hedge funds have recently bought and sold shares of the company. Able Wealth Management LLC bought a new stake in shares of Edison International in the fourth quarter valued at $25,000. Ashton Thomas Private Wealth LLC bought a new stake in Edison International in the 2nd quarter valued at about $27,000. Global Trust Asset Management LLC purchased a new stake in Edison International during the first quarter valued at about $28,000. Country Trust Bank bought a new position in Edison International during the second quarter worth about $29,000. Finally, Farmers & Merchants Investments Inc. increased its stake in shares of Edison International by 53.8% in the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 140 shares in the last quarter. 88.95% of the stock is owned by institutional investors.

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.