Edison International (NYSE:EIX) to Issue Quarterly Dividend of $0.78

Edison International (NYSE:EIX) announced a quarterly dividend on Wednesday, June 26th, RTT News reports. Stockholders of record on Monday, July 8th will be given a dividend of 0.78 per share by the utilities provider on Wednesday, July 31st. This represents a $3.12 annualized dividend and a dividend yield of 4.34%.

Edison International has raised its dividend by an average of 5.1% annually over the last three years and has raised its dividend every year for the last 21 years. Edison International has a payout ratio of 55.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Edison International to earn $5.58 per share next year, which means the company should continue to be able to cover its $3.12 annual dividend with an expected future payout ratio of 55.9%.

Edison International Trading Down 0.0 %

Shares of NYSE EIX traded down $0.01 during midday trading on Wednesday, reaching $71.85. 1,173,008 shares of the stock were exchanged, compared to its average volume of 2,061,387. The business has a 50-day simple moving average of $73.26 and a two-hundred day simple moving average of $70.40. The company has a market capitalization of $27.64 billion, a price-to-earnings ratio of 31.56 and a beta of 0.95. Edison International has a 12 month low of $58.82 and a 12 month high of $77.04. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.00 and a quick ratio of 0.93.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.01. The firm had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.16 billion. Edison International had a net margin of 6.14% and a return on equity of 12.48%. The company’s revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.09 EPS. As a group, equities research analysts expect that Edison International will post 4.92 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Caroline Choi sold 10,004 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $75.77, for a total transaction of $758,003.08. Following the sale, the senior vice president now owns 26,918 shares of the company’s stock, valued at $2,039,576.86. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, SVP Caroline Choi sold 10,004 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $75.77, for a total value of $758,003.08. Following the sale, the senior vice president now directly owns 26,918 shares in the company, valued at approximately $2,039,576.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO J Andrew Murphy sold 58,099 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $75.01, for a total transaction of $4,358,005.99. Following the completion of the transaction, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at $1,474,696.60. The disclosure for this sale can be found here. Insiders sold a total of 77,897 shares of company stock worth $5,851,245 over the last three months. 1.03% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Mizuho boosted their target price on shares of Edison International from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Wells Fargo & Company upgraded shares of Edison International from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $72.00 to $86.00 in a report on Tuesday, May 14th. Barclays upped their target price on shares of Edison International from $72.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. The Goldman Sachs Group started coverage on shares of Edison International in a research note on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 price objective for the company. Finally, Argus increased their target price on shares of Edison International from $78.00 to $82.00 and gave the company a “buy” rating in a research report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, Edison International currently has a consensus rating of “Hold” and a consensus price target of $77.40.

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.