Shares of Edison International (NYSE:EIX) have been given an average recommendation of “Hold” by the fourteen research firms that are currently covering the company, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $85.33.
A number of equities analysts recently weighed in on EIX shares. Zacks Investment Research upgraded shares of Edison International from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a report on Thursday, July 6th. BMO Capital Markets restated a “buy” rating and set a $85.00 target price on shares of Edison International in a report on Thursday, August 17th. Jefferies Group LLC restated a “buy” rating on shares of Edison International in a report on Thursday, August 17th. Mizuho restated a “buy” rating and set a $87.00 target price (up from $84.00) on shares of Edison International in a report on Wednesday, August 23rd. Finally, Royal Bank Of Canada restated a “buy” rating and set a $84.00 target price on shares of Edison International in a report on Sunday, September 17th.
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Edison International (EIX) traded up 0.32% during mid-day trading on Wednesday, hitting $77.85. 1,975,036 shares of the company traded hands. Edison International has a one year low of $67.44 and a one year high of $82.82. The company’s 50-day moving average is $79.26 and its 200-day moving average is $79.49. The stock has a market capitalization of $25.36 billion, a price-to-earnings ratio of 18.41 and a beta of 0.22.
Edison International (NYSE:EIX) last issued its earnings results on Thursday, July 27th. The utilities provider reported $0.85 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.85. The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.92 billion. Edison International had a net margin of 12.64% and a return on equity of 10.58%. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.85 earnings per share. Analysts predict that Edison International will post $4.23 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be given a dividend of $0.5425 per share. The ex-dividend date is Thursday, September 28th. This represents a $2.17 dividend on an annualized basis and a yield of 2.79%. Edison International’s dividend payout ratio (DPR) is 50.82%.
In other Edison International news, insider Ronald L. Litzinger sold 224,715 shares of Edison International stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $80.54, for a total transaction of $18,098,546.10. Following the completion of the transaction, the insider now directly owns 14,121 shares of the company’s stock, valued at $1,137,305.34. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.41% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Guardian Life Insurance Co. of America boosted its position in shares of Edison International by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 1,256 shares of the utilities provider’s stock valued at $100,000 after acquiring an additional 8 shares during the period. Sun Life Financial INC boosted its position in shares of Edison International by 16,935.7% in the second quarter. Sun Life Financial INC now owns 2,385 shares of the utilities provider’s stock valued at $186,000 after acquiring an additional 2,371 shares during the period. Parallel Advisors LLC boosted its position in shares of Edison International by 41.7% in the first quarter. Parallel Advisors LLC now owns 2,517 shares of the utilities provider’s stock valued at $198,000 after acquiring an additional 741 shares during the period. Bailard Inc. bought a new stake in shares of Edison International in the first quarter valued at about $201,000. Finally, OxFORD Asset Management LLP bought a new stake in shares of Edison International in the second quarter valued at about $204,000. 81.53% of the stock is owned by institutional investors.
About Edison International
Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.
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