Edison International (NYSE:EIX) declared a quarterly dividend on Thursday, December 6th, RTT News reports. Stockholders of record on Monday, December 31st will be given a dividend of 0.6125 per share by the utilities provider on Thursday, January 31st. This represents a $2.45 dividend on an annualized basis and a dividend yield of 4.26%. This is an increase from Edison International’s previous quarterly dividend of $0.61.
Edison International has raised its dividend payment by an average of 15.2% annually over the last three years and has raised its dividend annually for the last 13 consecutive years. Edison International has a payout ratio of 58.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Edison International to earn $4.55 per share next year, which means the company should continue to be able to cover its $2.42 annual dividend with an expected future payout ratio of 53.2%.
Edison International stock opened at $57.54 on Friday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.66 and a current ratio of 0.72. The stock has a market capitalization of $18.81 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 2.35 and a beta of -0.01. Edison International has a 52 week low of $45.50 and a 52 week high of $73.31.
Edison International (NYSE:EIX) last posted its quarterly earnings data on Tuesday, October 30th. The utilities provider reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.25. The business had revenue of $4.27 billion for the quarter, compared to analyst estimates of $3.47 billion. Edison International had a return on equity of 10.61% and a net margin of 4.47%. The firm’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.43 earnings per share. Analysts anticipate that Edison International will post 4.14 EPS for the current year.
A number of equities analysts have recently commented on the company. Morgan Stanley reiterated a “hold” rating on shares of Edison International in a research note on Monday, August 27th. Mizuho raised Edison International from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $62.00 to $57.50 in a research report on Wednesday, November 21st. ValuEngine downgraded Edison International from a “hold” rating to a “sell” rating in a research report on Saturday, November 10th. Bank of America downgraded Edison International from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $72.00 to $75.00 in a research report on Thursday, October 11th. Finally, Zacks Investment Research reissued a “buy” rating and set a $76.00 target price on shares of Edison International in a research report on Tuesday, November 13th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $69.96.
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About Edison International
Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.
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