Edison International (NYSE:EIX) Price Target Raised to $94.00

Edison International (NYSE:EIX) had its price objective raised by Wells Fargo & Company from $87.00 to $94.00 in a research report report published on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the utilities provider’s stock.

EIX has been the topic of a number of other research reports. Barclays lowered their price target on Edison International from $91.00 to $89.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 15th. Argus lifted their price objective on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. UBS Group increased their price target on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Bank of America assumed coverage on shares of Edison International in a report on Thursday, September 12th. They set a “buy” rating and a $95.00 price objective on the stock. Finally, Guggenheim upped their target price on Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.36.

Edison International Price Performance

Shares of EIX opened at $81.13 on Wednesday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.96. Edison International has a 1-year low of $62.21 and a 1-year high of $88.77. The stock has a market cap of $31.41 billion, a PE ratio of 23.79, a price-to-earnings-growth ratio of 1.92 and a beta of 0.92. The firm has a fifty day moving average price of $85.39 and a 200 day moving average price of $78.73.

Edison International (NYSE:EIX) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter last year, the business posted $1.38 EPS. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Edison International will post 4.94 EPS for the current year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s dividend payout ratio is currently 91.50%.

Insiders Place Their Bets

In other news, CEO J Andrew Murphy sold 23,896 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $85.45, for a total value of $2,041,913.20. Following the transaction, the chief executive officer now directly owns 19,850 shares in the company, valued at $1,696,182.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.03% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in EIX. Highline Wealth Partners LLC acquired a new stake in Edison International in the third quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC purchased a new stake in Edison International during the 2nd quarter worth $27,000. Eastern Bank purchased a new stake in Edison International during the 3rd quarter worth $27,000. Country Trust Bank acquired a new position in Edison International in the 2nd quarter worth $29,000. Finally, Farmers & Merchants Investments Inc. boosted its position in Edison International by 53.8% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after buying an additional 140 shares during the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

About Edison International

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.