Brokerages Set Edison International (NYSE:EIX) PT at $76.75

Edison International (NYSE:EIX) has received a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $76.96.

EIX has been the subject of several recent research reports. Morgan Stanley reaffirmed an “overweight” rating on shares of Edison International in a report on Wednesday, April 23rd. The Goldman Sachs Group reduced their target price on Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $72.00 price objective on shares of Edison International in a research note on Wednesday, February 12th. Guggenheim cut shares of Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Finally, UBS Group upgraded shares of Edison International from a “neutral” rating to a “buy” rating and cut their price target for the stock from $69.00 to $65.00 in a research note on Tuesday, February 18th.

Edison International Price Performance

NYSE EIX opened at $54.57 on Tuesday. The company has a 50 day moving average price of $56.45 and a two-hundred day moving average price of $67.49. Edison International has a 12-month low of $49.06 and a 12-month high of $88.77. The stock has a market capitalization of $21.01 billion, a PE ratio of 16.00, a price-to-earnings-growth ratio of 1.07 and a beta of 0.74. 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 issued its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.16. The business had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $4.29 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm’s revenue was down 6.5% compared to the same quarter last year. During the same period last year, the business earned $1.13 EPS. As a group, equities analysts predict that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th were paid a $0.8275 dividend. The ex-dividend date was Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.07%. Edison International’s dividend payout ratio (DPR) is presently 46.95%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Edison International by 3.3% during the fourth quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider’s stock valued at $3,879,408,000 after purchasing an additional 1,559,501 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Edison International by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 9,983,519 shares of the utilities provider’s stock valued at $795,123,000 after buying an additional 362,999 shares during the period. Northern Trust Corp raised its position in shares of Edison International by 53.9% during the fourth quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider’s stock worth $459,642,000 after acquiring an additional 2,016,017 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Edison International by 7.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,163,408 shares of the utilities provider’s stock worth $412,246,000 after acquiring an additional 371,043 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Edison International by 1.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,133,574 shares of the utilities provider’s stock valued at $409,865,000 after acquiring an additional 50,451 shares during the period. Institutional investors and hedge funds 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.