Royal Bank of Canada Reiterates Outperform Rating for Edison International (NYSE:EIX)

Royal Bank of Canada restated their outperform rating on shares of Edison International (NYSE:EIX) in a research note released on Monday morning, Benzinga reports. The firm currently has a $94.00 price objective on the utilities provider’s stock.

Other equities research analysts also recently issued research reports about the company. Barclays boosted their price objective on Edison International from $80.00 to $91.00 and gave the company an equal weight rating in a report on Wednesday, September 4th. Guggenheim boosted their price target on shares of Edison International from $80.00 to $83.00 and gave the stock a buy rating in a research note on Friday, July 26th. Bank of America began coverage on shares of Edison International in a research note on Thursday, September 12th. They issued a buy rating and a $95.00 price objective for the company. Argus upped their target price on shares of Edison International from $82.00 to $97.00 and gave the stock a buy rating in a research note on Wednesday, September 11th. Finally, Evercore ISI increased their target price on shares of Edison International from $82.00 to $88.00 and gave the stock an outperform rating in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Edison International currently has a consensus rating of Hold and an average price target of $85.83.

Edison International Stock Down 1.3 %

Shares of EIX opened at $84.19 on Monday. The company’s 50-day moving average price is $82.10 and its 200 day moving average price is $75.34. Edison International has a 12-month low of $58.82 and a 12-month high of $88.77. The company has a current ratio of 1.03, a quick ratio of 0.96 and a debt-to-equity ratio of 2.04. The firm has a market cap of $32.51 billion, a P/E ratio of 36.93, a price-to-earnings-growth ratio of 1.99 and a beta of 0.91.

Edison International (NYSE:EIX) last released its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. The business had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.12 billion. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The business’s revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.01 EPS. On average, sell-side analysts forecast that Edison International will post 4.97 earnings per share for the current year.

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, July 8th were given a dividend of $0.78 per share. The ex-dividend date was Monday, July 8th. This represents a $3.12 annualized dividend and a dividend yield of 3.71%. Edison International’s dividend payout ratio (DPR) is currently 136.84%.

Insider Buying and Selling

In other Edison International news, CEO J Andrew Murphy sold 28,995 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $78.43, for a total value of $2,274,077.85. Following the sale, the chief executive officer now directly owns 19,660 shares in the company, valued at $1,541,933.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, VP Natalie K. Schilling sold 2,341 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total value of $187,280.00. Following the completion of the transaction, the vice president now owns 6,338 shares in the company, valued at approximately $507,040. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO J Andrew Murphy sold 28,995 shares of Edison International stock in a transaction on Friday, July 26th. The stock was sold at an average price of $78.43, for a total transaction of $2,274,077.85. Following the sale, the chief executive officer now owns 19,660 shares in the company, valued at $1,541,933.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,099 shares of company stock worth $7,223,342. Corporate insiders own 1.03% of the company’s stock.

Hedge Funds Weigh In On Edison International

Several large investors have recently bought and sold shares of the stock. Equitable Trust Co. lifted its holdings in shares of Edison International by 0.9% in the 2nd quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider’s stock valued at $1,108,000 after purchasing an additional 132 shares during the last quarter. TIAA Trust National Association lifted its stake in Edison International by 2.0% in the second quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock valued at $483,000 after buying an additional 134 shares during the last quarter. Farmers & Merchants Investments Inc. boosted its holdings in shares of Edison International by 53.8% in the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 140 shares during the period. Asset Dedication LLC grew its position in shares of Edison International by 37.5% during the second quarter. Asset Dedication LLC now owns 550 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 150 shares during the last quarter. Finally, Carson Advisory Inc. increased its holdings in shares of Edison International by 0.3% in the 1st quarter. Carson Advisory Inc. now owns 54,625 shares of the utilities provider’s stock valued at $3,864,000 after acquiring an additional 152 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

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.