Argus Boosts Edison International (NYSE:EIX) Price Target to $97.00

Edison International (NYSE:EIX) had its price objective boosted by Argus from $82.00 to $97.00 in a research report report published on Wednesday, Benzinga reports. They currently have a buy rating on the utilities provider’s stock.

Other analysts have also recently issued reports about the stock. Guggenheim upped their target price on shares of Edison International from $80.00 to $83.00 and gave the company a buy rating in a report on Friday, July 26th. Barclays raised their target price on Edison International from $80.00 to $91.00 and gave the stock an equal weight rating in a report on Wednesday, September 4th. UBS Group upped their price target on shares of Edison International from $86.00 to $89.00 and gave the stock a neutral rating in a research report on Wednesday, September 4th. Evercore ISI raised their price objective on shares of Edison International from $82.00 to $88.00 and gave the company an outperform rating in a research report on Wednesday, August 14th. Finally, Morgan Stanley upped their target price on shares of Edison International from $62.00 to $68.00 and gave the stock an underweight rating in a report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $84.67.

Edison International Price Performance

NYSE EIX opened at $85.42 on Wednesday. The stock has a market capitalization of $32.99 billion, a price-to-earnings ratio of 37.47 and a beta of 0.91. Edison International has a 1-year low of $58.82 and a 1-year high of $88.77. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.03 and a quick ratio of 0.96. The business’s fifty day moving average price is $81.06 and its 200-day moving average price is $74.84.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $4.12 billion. During the same period last year, the firm posted $1.01 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities analysts predict that Edison International will post 4.96 earnings per share for the current year.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 8th were paid 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 3.65%. Edison International’s dividend payout ratio is presently 136.84%.

Insider Activity

In related news, CEO J Andrew Murphy sold 23,896 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the completion of the transaction, the chief executive officer now owns 19,850 shares in the company, valued at approximately $1,696,182.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO J Andrew Murphy sold 23,896 shares of Edison International stock in a transaction on Monday, August 26th. The stock was sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the completion of the sale, the chief executive officer now directly owns 19,850 shares in the company, valued at $1,696,182.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Natalie K. Schilling sold 2,341 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total transaction of $187,280.00. Following the completion of the transaction, the vice president now owns 6,338 shares in the company, valued at $507,040. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 89,099 shares of company stock valued at $7,223,342. 1.03% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Edison International

A number of institutional investors have recently modified their holdings of the stock. Jump Financial LLC purchased a new position in Edison International during the 4th quarter worth $1,215,000. Avantax Advisory Services Inc. raised its holdings in shares of Edison International by 73.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 21,114 shares of the utilities provider’s stock valued at $1,509,000 after acquiring an additional 8,922 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Edison International by 4.4% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 389,357 shares of the utilities provider’s stock worth $27,870,000 after acquiring an additional 16,425 shares during the period. Janney Montgomery Scott LLC lifted its stake in Edison International by 7.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 114,115 shares of the utilities provider’s stock worth $8,158,000 after acquiring an additional 7,919 shares during the period. Finally, Quadrant Capital Group LLC grew its holdings in Edison International by 9.8% during the 4th quarter. Quadrant Capital Group LLC now owns 3,316 shares of the utilities provider’s stock worth $237,000 after acquiring an additional 297 shares in the last quarter. 88.95% of the stock is 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.