Edison International (NYSE:EIX) Sets New 1-Year Low After Analyst Downgrade

Shares of Edison International (NYSE:EIX) reached a new 52-week low during trading on Tuesday after Barclays lowered their price target on the stock from $84.00 to $76.00. Barclays currently has an overweight rating on the stock. Edison International traded as low as $55.27 and last traded at $57.09, with a volume of 17334754 shares trading hands. The stock had previously closed at $65.00.

Several other equities analysts also recently commented on EIX. Wells Fargo & Company upped their price target on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. UBS Group reduced their price objective on shares of Edison International from $96.00 to $87.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Morgan Stanley reduced their price objective on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Royal Bank of Canada increased their price objective on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Finally, Jefferies Financial Group assumed coverage on shares of Edison International in a research note on Thursday, November 7th. They set a “buy” rating and a $93.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Edison International presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.96.

Insider Transactions at Edison International

In other news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.03% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Lake Street Advisors Group LLC raised its holdings in Edison International by 4.3% in the 3rd quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock valued at $263,000 after buying an additional 124 shares during the last quarter. Baker Tilly Wealth Management LLC raised its holdings in Edison International by 2.8% in the 3rd quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock valued at $416,000 after buying an additional 129 shares during the last quarter. SFE Investment Counsel raised its holdings in Edison International by 0.3% in the 3rd quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock valued at $3,721,000 after buying an additional 130 shares during the last quarter. Assetmark Inc. raised its holdings in Edison International by 32.9% in the 3rd quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock valued at $55,000 after buying an additional 157 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC increased its position in Edison International by 2.1% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 7,697 shares of the utilities provider’s stock valued at $670,000 after purchasing an additional 159 shares during the period. Institutional investors own 88.95% of the company’s stock.

Edison International Price Performance

The firm has a market cap of $23.74 billion, a price-to-earnings ratio of 17.98, a P/E/G ratio of 1.96 and a beta of 0.93. The business’s 50-day simple moving average is $80.71 and its two-hundred day simple moving average is $81.62. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.38 EPS. As a group, research analysts expect that Edison International will post 4.94 EPS for the current fiscal year.

Edison International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th will be given a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a yield of 5.40%. The ex-dividend date is Tuesday, January 7th. This is an increase from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio is currently 97.07%.

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.