Edison International (NYSE:EIX) Receives $73.60 Average Price Target from Brokerages

Shares of Edison International (NYSE:EIX) have been given a consensus recommendation of “Hold” by the nine analysts that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $73.60.

Several equities analysts have recently weighed in on the company. Royal Bank of Canada decreased their target price on Edison International from $81.00 to $80.00 and set an “outperform” rating on the stock in a research report on Thursday, March 7th. Guggenheim raised Edison International from a “neutral” rating to a “buy” rating and increased their price target for the company from $66.00 to $84.00 in a report on Monday, January 22nd. Mizuho cut their price target on Edison International from $76.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, January 25th. The Goldman Sachs Group began coverage on Edison International in a report on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 price target for the company. Finally, StockNews.com raised Edison International from a “sell” rating to a “hold” rating in a report on Saturday, February 24th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Able Wealth Management LLC purchased a new stake in Edison International during the 4th quarter worth about $25,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Edison International during the fourth quarter worth about $27,000. RVW Wealth LLC acquired a new stake in shares of Edison International during the third quarter worth about $25,000. Global Trust Asset Management LLC acquired a new stake in shares of Edison International during the first quarter worth about $28,000. Finally, WASHINGTON TRUST Co increased its position in shares of Edison International by 117.4% during the fourth quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 270 shares in the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Stock Up 2.6 %

Shares of EIX stock opened at $69.93 on Friday. The stock’s 50-day simple moving average is $68.46 and its 200-day simple moving average is $67.47. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.73 and a current ratio of 0.79. The firm has a market capitalization of $26.90 billion, a PE ratio of 22.41 and a beta of 0.96. Edison International has a fifty-two week low of $58.82 and a fifty-two week high of $74.92.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.12. The company had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $4.19 billion. Edison International had a return on equity of 12.63% and a net margin of 8.35%. During the same quarter in the prior year, the business posted $1.14 earnings per share. Equities analysts expect that Edison International will post 4.98 earnings per share for the current year.

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.12 dividend on an annualized basis and a yield of 4.46%. Edison International’s dividend payout ratio (DPR) is presently 100.00%.

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.