Edison International (NYSE:EIX) Price Target Lowered to $48.00 at Morgan Stanley

Edison International (NYSE:EIX) had its price target lowered by Morgan Stanley from $71.00 to $48.00 in a research report report published on Friday,Benzinga reports. The firm currently has an underweight rating on the utilities provider’s stock.

Other equities research analysts have also recently issued reports about the company. Guggenheim cut Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. Jefferies Financial Group began coverage on Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price objective for the company. Wells Fargo & Company increased their price objective on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Barclays dropped their price objective on Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $72.00 price objective on shares of Edison International in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $80.39.

Edison International Trading Down 2.7 %

Shares of EIX stock opened at $50.11 on Friday. The stock has a market capitalization of $19.40 billion, a PE ratio of 14.69, a P/E/G ratio of 1.05 and a beta of 0.90. Edison International has a 1-year low of $49.06 and a 1-year high of $88.77. The business has a 50-day moving average of $67.81 and a 200 day moving average of $78.73. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81.

Edison International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, January 7th were given a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a yield of 6.61%. The ex-dividend date of this dividend was Tuesday, January 7th. This is a positive change from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio (DPR) is 97.07%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lake Street Advisors Group LLC increased its position in Edison International by 4.3% during the 3rd quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock valued at $263,000 after buying an additional 124 shares in the last quarter. Baker Tilly Wealth Management LLC increased its position in Edison International by 2.8% during the 3rd quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock valued at $416,000 after buying an additional 129 shares in the last quarter. SFE Investment Counsel increased its position in Edison International by 0.3% during the 3rd quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock valued at $3,721,000 after buying an additional 130 shares in the last quarter. Assetmark Inc. increased its position in Edison International by 32.9% during the 3rd quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock valued at $55,000 after buying an additional 157 shares in the last quarter. Finally, Centennial Wealth Advisory LLC increased its position in Edison International by 3.3% during the 3rd quarter. Centennial Wealth Advisory LLC now owns 5,378 shares of the utilities provider’s stock valued at $468,000 after buying an additional 172 shares in the last quarter. Institutional investors own 88.95% of the company’s stock.

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.