UBS Group Lowers Edison International (NYSE:EIX) to Neutral

UBS Group cut shares of Edison International (NYSE:EIX) from a buy rating to a neutral rating in a research note released on Friday morning, Marketbeat.com reports. They currently have $82.00 target price on the utilities provider’s stock, down from their prior target price of $83.00.

EIX has been the topic of several other reports. Argus boosted their price target on Edison International from $78.00 to $82.00 and gave the company a buy rating in a research note on Wednesday, June 12th. Mizuho lifted their price objective on Edison International from $75.00 to $85.00 and gave the company a buy rating in a report on Friday, May 17th. Barclays lifted their price objective on Edison International from $72.00 to $75.00 and gave the company an equal weight rating in a report on Thursday, May 2nd. Morgan Stanley decreased their price objective on Edison International from $64.00 to $61.00 and set an underweight rating on the stock in a report on Monday, June 24th. Finally, Wells Fargo & Company raised Edison International from an equal weight rating to an overweight rating and lifted their price objective for the company from $72.00 to $86.00 in a report on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Hold and an average price target of $77.82.

Edison International Trading Down 0.2 %

Shares of EIX opened at $74.94 on Friday. Edison International has a 12-month low of $58.82 and a 12-month high of $77.04. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 2.04. The firm has a market capitalization of $28.83 billion, a price-to-earnings ratio of 32.87 and a beta of 0.91. The stock’s 50-day moving average price is $73.73 and its 200 day moving average price is $70.72.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share (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 analyst estimates of $4.16 billion. During the same period in the previous year, the company posted $1.09 earnings per share. The company’s quarterly 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 8th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 4.16%. The ex-dividend date is Monday, July 8th. Edison International’s payout ratio is currently 136.84%.

Insider Transactions at Edison International

In related news, CEO J Andrew Murphy sold 58,099 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $75.01, for a total value of $4,358,005.99. Following the completion of the transaction, the chief executive officer now owns 19,660 shares in the company, valued at approximately $1,474,696.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Caroline Choi sold 10,004 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $75.77, for a total value of $758,003.08. Following the completion of the transaction, the senior vice president now owns 26,918 shares in the company, valued at approximately $2,039,576.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO J Andrew Murphy sold 58,099 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $75.01, for a total transaction of $4,358,005.99. Following the completion of the transaction, the chief executive officer now owns 19,660 shares of the company’s stock, valued at approximately $1,474,696.60. The disclosure for this sale can be found here. Insiders have sold 77,897 shares of company stock valued at $5,851,245 in the last three months. 1.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Capital Research Global Investors raised its position in Edison International by 1.7% in the 1st quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider’s stock worth $1,438,984,000 after purchasing an additional 345,189 shares during the last quarter. Pzena Investment Management LLC raised its position in shares of Edison International by 2.3% during the 1st quarter. Pzena Investment Management LLC now owns 13,605,080 shares of the utilities provider’s stock valued at $962,287,000 after acquiring an additional 305,459 shares during the last quarter. Capital International Investors raised its position in shares of Edison International by 6.4% during the 1st quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock valued at $940,562,000 after acquiring an additional 795,950 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Edison International by 4.4% during the 4th quarter. Wellington Management Group LLP now owns 10,276,016 shares of the utilities provider’s stock valued at $734,632,000 after acquiring an additional 433,845 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Edison International by 4.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,261,803 shares of the utilities provider’s stock valued at $376,166,000 after acquiring an additional 202,541 shares during the last quarter. Institutional investors 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.