Brokerages Set Edison International (NYSE:EIX) Price Target at $86.67

Edison International (NYSE:EIX) has received a consensus rating of “Moderate Buy” from the eleven research firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $87.55.

EIX has been the subject of several research reports. Guggenheim lifted their price objective on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Royal Bank of Canada raised their price target on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Bank of America began coverage on Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 price target for the company. Argus raised their price target on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Finally, Barclays dropped their price target on Edison International from $91.00 to $89.00 and set an “equal weight” rating for the company in a research report on Tuesday.

Insider Activity

In other news, CEO J Andrew Murphy sold 1,362 shares of Edison International stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $85.00, for a total value of $115,770.00. Following the completion of the sale, the chief executive officer now owns 19,850 shares of the company’s stock, valued at $1,687,250. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Natalie K. Schilling sold 2,341 shares of Edison International stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total value of $187,280.00. Following the completion of the sale, the vice president now owns 6,338 shares of the company’s stock, valued at $507,040. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO J Andrew Murphy sold 1,362 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $85.00, for a total value of $115,770.00. Following the sale, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at approximately $1,687,250. This trade represents a 0.00 % decrease in their position. 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. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Edison International

Institutional investors have recently added to or reduced their stakes in the company. Able Wealth Management LLC purchased a new stake in Edison International during the fourth quarter valued at about $25,000. Ashton Thomas Private Wealth LLC purchased a new stake in Edison International during the second quarter valued at about $27,000. Global Trust Asset Management LLC purchased a new stake in Edison International during the first quarter valued at about $28,000. Country Trust Bank purchased a new stake in Edison International during the second quarter valued at about $29,000. Finally, Farmers & Merchants Investments Inc. grew its position in Edison International by 53.8% during the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 140 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Stock Performance

Shares of EIX stock opened at $84.64 on Friday. The stock has a fifty day moving average price of $85.24 and a 200 day moving average price of $77.63. The stock has a market cap of $32.69 billion, a PE ratio of 33.99, a P/E/G ratio of 1.95 and a beta of 0.91. Edison International has a 1 year low of $61.64 and a 1 year high of $88.77. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03.

Edison International (NYSE:EIX) last issued its quarterly earnings data 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. The firm had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Edison International had a return on equity of 13.01% and a net margin of 6.60%. Edison International’s revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.01 earnings per share. Sell-side analysts forecast that Edison International will post 4.97 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, October 7th will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date is Monday, October 7th. Edison International’s dividend payout ratio is currently 125.30%.

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.