Edison International (NYSE:EIX) Receives Average Rating of “Hold” from Brokerages

Edison International (NYSE:EIX) has been assigned an average recommendation of “Hold” from the eleven brokerages that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $77.40.

Several equities analysts have recently issued reports on the company. Morgan Stanley lowered their price target on Edison International from $64.00 to $61.00 and set an “underweight” rating on the stock in a research report on Monday, June 24th. Argus lifted their price target on Edison International from $78.00 to $82.00 and gave the company a “buy” rating in a research report on Wednesday, June 12th. The Goldman Sachs Group assumed coverage on Edison International in a research report on Wednesday, April 10th. They set a “neutral” rating and a $78.00 price target on the stock. Wells Fargo & Company upgraded Edison International from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $72.00 to $86.00 in a research report on Tuesday, May 14th. Finally, Barclays lifted their price target on Edison International from $72.00 to $75.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd.

Edison International Stock Down 0.1 %

EIX opened at $71.53 on Wednesday. Edison International has a 12 month low of $58.82 and a 12 month high of $77.04. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.00 and a quick ratio of 0.93. The stock has a market cap of $27.52 billion, a P/E ratio of 31.37 and a beta of 0.91. The stock’s 50 day moving average price is $73.57 and its 200 day moving average price is $70.57.

Edison International (NYSE:EIX) last posted its earnings results on Tuesday, April 30th. The utilities provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.12 by $0.01. Edison International had a return on equity of 12.48% and a net margin of 6.14%. The firm had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.16 billion. During the same period last year, the firm earned $1.09 EPS. The firm’s revenue was up 2.8% compared to the same quarter last year. As a group, research analysts predict that Edison International will post 4.92 earnings per share for the current year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 8th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 4.36%. The ex-dividend date of this dividend is Monday, July 8th. Edison International’s dividend payout ratio is presently 136.84%.

Insider Transactions at Edison International

In other news, CEO J Andrew Murphy sold 58,099 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $75.01, for a total value of $4,358,005.99. Following the completion of the sale, the chief executive officer now owns 19,660 shares of the company’s stock, valued at $1,474,696.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO J Andrew Murphy sold 58,099 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $75.01, for a total value of $4,358,005.99. Following the completion of the sale, the chief executive officer now owns 19,660 shares of the company’s stock, valued at $1,474,696.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Caroline Choi sold 10,004 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $75.77, for a total value of $758,003.08. Following the completion of the sale, the senior vice president now directly owns 26,918 shares of the company’s stock, valued at approximately $2,039,576.86. The disclosure for this sale can be found here. Insiders sold a total of 77,897 shares of company stock valued at $5,851,245 in the last three months. 1.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Edison International

Several hedge funds and other institutional investors have recently modified their holdings of the business. Able Wealth Management LLC acquired a new stake in Edison International during the fourth quarter valued at $25,000. Bruce G. Allen Investments LLC acquired a new stake in Edison International during the fourth quarter valued at $27,000. Global Trust Asset Management LLC acquired a new stake in Edison International during the first quarter valued at $28,000. WASHINGTON TRUST Co boosted its position in Edison International by 117.4% during the fourth quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 270 shares during the last quarter. Finally, Northwest Financial Advisors acquired a new stake in Edison International during the fourth quarter valued at $40,000. 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.