Edison International (NYSE:EIX) Price Target Increased to $91.00 by Analysts at Barclays

Edison International (NYSE:EIX) had its price objective lifted by Barclays from $80.00 to $91.00 in a research report released on Wednesday, Benzinga reports. The brokerage currently has an equal weight rating on the utilities provider’s stock.

Other analysts have also recently issued research reports about the stock. UBS Group cut shares of Edison International from a buy rating to a neutral rating and lowered their target price for the company from $83.00 to $82.00 in a research note on Friday, July 19th. Morgan Stanley upped their price objective on Edison International from $62.00 to $68.00 and gave the company an underweight rating in a research note on Friday, August 23rd. Guggenheim raised their target price on Edison International from $80.00 to $83.00 and gave the stock a buy rating in a research report on Friday, July 26th. Evercore ISI upped their price target on Edison International from $82.00 to $88.00 and gave the company an outperform rating in a research report on Wednesday, August 14th. Finally, Argus increased their price objective on Edison International from $78.00 to $82.00 and gave the stock a buy rating in a research note on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus target price of $82.36.

Edison International Trading Down 1.1 %

Shares of EIX opened at $86.65 on Wednesday. The stock’s 50-day moving average price is $79.74 and its 200 day moving average price is $74.28. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 2.04. The firm has a market capitalization of $33.46 billion, a price-to-earnings ratio of 38.00 and a beta of 0.91. Edison International has a 12-month low of $58.82 and a 12-month high of $88.77.

Edison International (NYSE:EIX) last issued its earnings results on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same period in the prior year, the company posted $1.01 earnings per share. Edison International’s revenue was up 9.4% on a year-over-year basis. As a group, research analysts predict that Edison International will post 4.96 earnings per share for the current year.

Edison International Dividend Announcement

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

Insider Activity at Edison International

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 transaction of $2,274,077.85. Following the transaction, the chief executive officer now owns 19,660 shares of the company’s stock, valued at approximately $1,541,933.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Edison International news, CEO J Andrew Murphy sold 28,995 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $78.43, for a total transaction of $2,274,077.85. Following the transaction, the chief executive officer now directly owns 19,660 shares in the company, valued at approximately $1,541,933.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Natalie K. Schilling sold 2,341 shares of Edison International stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total transaction of $187,280.00. Following the sale, the vice president now owns 6,338 shares of the company’s stock, valued at approximately $507,040. The disclosure for this sale can be found here. Insiders sold a total of 89,099 shares of company stock valued at $7,223,342 over the last quarter. Corporate insiders own 1.03% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Capital Research Global Investors increased its holdings in Edison International by 1.7% in the first quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider’s stock valued at $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% in 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 period. Capital International Investors raised its position in shares of Edison International by 6.4% in 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 period. Wellington Management Group LLP boosted its stake in 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 worth $734,632,000 after acquiring an additional 433,845 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Edison International by 4.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,261,803 shares of the utilities provider’s stock valued at $376,166,000 after purchasing an additional 202,541 shares during the period. 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.