Edison International (NYSE:EIX) Given New $69.00 Price Target at UBS Group

Edison International (NYSE:EIX) had its price objective reduced by UBS Group from $87.00 to $69.00 in a research note published on Thursday morning,Benzinga reports. They currently have a neutral rating on the utilities provider’s stock.

Several other analysts also recently weighed in on EIX. Wells Fargo & Company boosted their price objective on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Royal Bank of Canada upped their price objective on shares of Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Jefferies Financial Group initiated coverage on Edison International in a research report on Thursday, November 7th. They set a “buy” rating and a $93.00 target price on the stock. Barclays decreased their target price on Edison International from $84.00 to $76.00 and set an “overweight” rating for the company in a research report on Monday. Finally, LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.58.

Edison International Stock Performance

NYSE:EIX opened at $61.16 on Thursday. The firm has a market capitalization of $23.68 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 1.34 and a beta of 0.93. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The business’s fifty day moving average price is $80.31 and its 200 day moving average price is $81.48. Edison International has a 12 month low of $55.27 and a 12 month high of $88.77.

Edison International (NYSE:EIX) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.38 EPS. On average, sell-side analysts anticipate that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 7th will be issued a dividend of $0.8275 per share. The ex-dividend date of this dividend is Tuesday, January 7th. This is an increase from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 annualized dividend and a dividend yield of 5.41%. Edison International’s dividend payout ratio (DPR) is currently 97.07%.

Insider Activity at Edison International

In other news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Federated Hermes Inc. boosted its holdings in Edison International by 87.9% in the 2nd quarter. Federated Hermes Inc. now owns 3,326 shares of the utilities provider’s stock valued at $239,000 after purchasing an additional 1,556 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Edison International by 15.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 10,485 shares of the utilities provider’s stock valued at $753,000 after buying an additional 1,388 shares during the period. Envestnet Asset Management Inc. grew its holdings in Edison International by 1.0% during the second quarter. Envestnet Asset Management Inc. now owns 486,400 shares of the utilities provider’s stock worth $34,928,000 after acquiring an additional 4,726 shares during the period. Dimensional Fund Advisors LP grew its holdings in Edison International by 15.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,635,880 shares of the utilities provider’s stock worth $117,476,000 after acquiring an additional 218,762 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in Edison International in the second quarter valued at $18,484,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

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.