JPMorgan Chase & Co. initiated coverage on shares of Edison International (NYSE:EIX) in a report published on Friday, January 12th, Marketbeat.com reports. The firm issued a neutral rating and a $67.00 price target on the utilities provider’s stock.
A number of other research analysts have also commented on EIX. SunTrust Banks reiterated a buy rating and set a $89.00 price objective on shares of Edison International in a research note on Monday, October 2nd. Mizuho reiterated a buy rating and set a $86.00 price objective on shares of Edison International in a research note on Monday, October 9th. Citigroup lifted their price target on shares of Edison International from $84.00 to $87.00 and gave the stock a neutral rating in a research report on Tuesday, October 17th. Royal Bank of Canada restated a buy rating and issued a $84.00 price target on shares of Edison International in a research report on Sunday, September 17th. Finally, Morgan Stanley decreased their price target on shares of Edison International from $96.00 to $82.00 and set an equal weight rating on the stock in a research report on Wednesday, December 13th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $78.57.
Shares of Edison International (NYSE:EIX) opened at $61.60 on Friday. Edison International has a 12 month low of $60.64 and a 12 month high of $83.38. The company has a market cap of $20,069.97, a P/E ratio of 14.03, a price-to-earnings-growth ratio of 2.27 and a beta of 0.17. The company has a quick ratio of 0.47, a current ratio of 0.51 and a debt-to-equity ratio of 0.80.
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th were paid a dividend of $0.605 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $2.42 dividend on an annualized basis and a dividend yield of 3.93%. This is a positive change from Edison International’s previous quarterly dividend of $0.54. Edison International’s dividend payout ratio (DPR) is 54.63%.
In other Edison International news, insider Ronald L. Litzinger sold 224,718 shares of Edison International stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $82.00, for a total transaction of $18,426,876.00. Following the completion of the sale, the insider now owns 14,121 shares of the company’s stock, valued at approximately $1,157,922. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.41% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Maple Brown Abbott Ltd bought a new position in Edison International in the 4th quarter worth $1,192,752,000. Vanguard Group Inc. raised its holdings in Edison International by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 27,363,702 shares of the utilities provider’s stock worth $2,139,568,000 after acquiring an additional 487,713 shares during the period. BlackRock Inc. raised its holdings in Edison International by 1.1% in the 2nd quarter. BlackRock Inc. now owns 24,659,823 shares of the utilities provider’s stock worth $1,928,152,000 after acquiring an additional 270,625 shares during the period. FIL Ltd raised its holdings in Edison International by 12.1% in the 2nd quarter. FIL Ltd now owns 2,789,016 shares of the utilities provider’s stock worth $218,073,000 after acquiring an additional 301,131 shares during the period. Finally, Legal & General Group Plc raised its holdings in Edison International by 5.8% in the 3rd quarter. Legal & General Group Plc now owns 2,750,911 shares of the utilities provider’s stock worth $212,288,000 after acquiring an additional 149,780 shares during the period. 80.09% of the stock is owned by institutional investors and hedge funds.
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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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