Edison International (NYSE:EIX) has been given a consensus rating of “Hold” by the eighteen brokerages that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $74.45.
EIX has been the topic of several recent research reports. Edward Jones cut shares of Edison International from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th. Citigroup reissued a “hold” rating and issued a $66.00 price target on shares of Edison International in a report on Monday, January 22nd. Royal Bank of Canada reissued a “buy” rating and issued a $74.00 price target on shares of Edison International in a report on Friday, December 22nd. Morgan Stanley cut their price target on shares of Edison International from $96.00 to $82.00 and set an “equal weight” rating for the company in a report on Wednesday, December 13th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Edison International in a report on Friday, January 12th. They issued a “neutral” rating and a $67.00 price target for the company.
Shares of Edison International (NYSE EIX) traded down $1.13 during midday trading on Tuesday, reaching $59.92. 553,478 shares of the company traded hands, compared to its average volume of 3,620,184. Edison International has a twelve month low of $57.63 and a twelve month high of $83.38. The company has a market cap of $19,520.00, a PE ratio of 13.68, a price-to-earnings-growth ratio of 2.25 and a beta of 0.17. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.47 and a current ratio of 0.51.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th were issued a dividend of $0.605 per share. This is an increase from Edison International’s previous quarterly dividend of $0.54. This represents a $2.42 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date was Thursday, December 28th. Edison International’s payout ratio is currently 55.25%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. OLD Mutual Customised Solutions Proprietary Ltd. raised its position in Edison International by 44.5% in the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 19,486 shares of the utilities provider’s stock worth $1,232,000 after purchasing an additional 6,000 shares during the period. Banco de Sabadell S.A purchased a new position in Edison International in the 4th quarter worth $273,000. Wealthsource Partners LLC purchased a new position in Edison International in the 4th quarter worth $389,000. Cullen Capital Management LLC raised its position in Edison International by 7.0% in the 4th quarter. Cullen Capital Management LLC now owns 62,470 shares of the utilities provider’s stock worth $3,951,000 after purchasing an additional 4,070 shares during the period. Finally, 683 Capital Management LLC purchased a new position in Edison International in the 4th quarter worth $6,324,000. 80.57% of the stock is owned by institutional investors.
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Edison International Company Profile
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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