Brokerages Set Edison International (NYSE:EIX) Target Price at $88.36

Edison International (NYSE:EIX) has received a consensus rating of “Moderate Buy” from the twelve analysts that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $88.75.

A number of analysts have commented on EIX shares. Barclays upped their price target on shares of Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Guggenheim upped 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. Wells Fargo & Company lifted their price target on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Argus raised their price objective on shares of Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Finally, Jefferies Financial Group initiated coverage on shares of Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price on the stock.

Edison International Stock Up 0.6 %

EIX stock opened at $83.58 on Tuesday. The stock has a market cap of $32.36 billion, a PE ratio of 24.51, a price-to-earnings-growth ratio of 1.93 and a beta of 0.92. The firm’s 50-day simple moving average is $84.99 and its 200 day simple moving average is $79.30. Edison International has a fifty-two week low of $62.21 and a fifty-two week high of $88.77. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.01 billion. During the same quarter in the prior year, the business posted $1.38 earnings per share. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, sell-side analysts predict that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s dividend payout ratio (DPR) is 91.50%.

Insider Activity at Edison International

In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $85.45, for a total value of $2,041,913.20. Following the transaction, the chief executive officer now owns 19,850 shares in the company, valued at $1,696,182.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO J Andrew Murphy sold 23,896 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $85.45, for a total value of $2,041,913.20. Following the transaction, the chief executive officer now owns 19,850 shares in the company, valued at approximately $1,696,182.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,878 shares of company stock valued at $4,285,422. Corporate insiders own 1.03% of the company’s stock.

Institutional Investors Weigh In On Edison International

Several institutional investors and hedge funds have recently added to or reduced their stakes in EIX. Darwin Wealth Management LLC bought a new stake in Edison International during the 3rd quarter valued at approximately $35,000. Prospera Private Wealth LLC bought a new stake in shares of Edison International in the third quarter valued at approximately $32,000. PNC Financial Services Group Inc. grew its stake in shares of Edison International by 6.6% in the third quarter. PNC Financial Services Group Inc. now owns 53,577 shares of the utilities provider’s stock worth $4,666,000 after acquiring an additional 3,311 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Edison International in the third quarter worth $1,387,000. Finally, Fifth Third Wealth Advisors LLC increased its position in Edison International by 51.7% during the third quarter. Fifth Third Wealth Advisors LLC now owns 7,494 shares of the utilities provider’s stock worth $653,000 after acquiring an additional 2,554 shares during the period. 88.95% of the stock is currently owned by institutional investors and hedge funds.

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.