Edison International (NYSE:EIX) Price Target Lowered to $65.00 at Barclays

Edison International (NYSE:EIX) had its target price decreased by Barclays from $67.00 to $65.00 in a research note released on Monday,Benzinga reports. Barclays currently has an overweight rating on the utilities provider’s stock.

A number of other research firms have also recently weighed in on EIX. Guggenheim cut Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. Wells Fargo & Company lowered their price target on Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Jefferies Financial Group started coverage on Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price objective for the company. LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective for the company in a report on Wednesday, January 15th. Finally, Morgan Stanley cut their price target on Edison International from $71.00 to $48.00 and set an “underweight” rating for the company in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Edison International currently has a consensus rating of “Moderate Buy” and an average target price of $76.54.

Edison International Trading Up 0.7 %

EIX opened at $55.22 on Monday. The stock’s fifty day moving average is $59.88 and its two-hundred day moving average is $75.87. The company has a market capitalization of $21.38 billion, a P/E ratio of 16.19, a PEG ratio of 1.07 and a beta of 0.90. Edison International has a 52 week low of $49.06 and a 52 week high of $88.77. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last released its quarterly earnings data on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.03). Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm had revenue of $17.60 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Analysts forecast that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be given a $0.8275 dividend. The ex-dividend date is Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.99%. Edison International’s dividend payout ratio (DPR) is presently 100.30%.

Institutional Investors Weigh In On Edison International

A number of large investors have recently made changes to their positions in EIX. Vanguard Group Inc. lifted its holdings in Edison International by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider’s stock valued at $3,879,408,000 after acquiring an additional 1,559,501 shares during the last quarter. State Street Corp increased its position in shares of Edison International by 0.7% during the third quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock worth $2,834,774,000 after acquiring an additional 224,337 shares during the period. FMR LLC increased its position in shares of Edison International by 8.7% during the third quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock worth $1,898,638,000 after acquiring an additional 1,741,835 shares during the period. Geode Capital Management LLC increased its holdings in Edison International by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 9,983,519 shares of the utilities provider’s stock valued at $795,123,000 after buying an additional 362,999 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Edison International by 53.9% in the fourth quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider’s stock valued at $459,642,000 after buying an additional 2,016,017 shares during the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

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.