Edison International (NYSE:EIX) Now Covered by Analysts at Jefferies Financial Group

Jefferies Financial Group started coverage on shares of Edison International (NYSE:EIX) in a report published on Thursday, Marketbeat reports. The firm issued a buy rating and a $93.00 price target on the utilities provider’s stock.

Several other equities analysts also recently commented on the stock. Evercore ISI upped their price objective on shares of Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Royal Bank of Canada boosted their price target on shares of Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Morgan Stanley boosted their price target on shares of Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a research report on Wednesday, September 25th. Bank of America started coverage on shares of Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 price target on the stock. Finally, Argus boosted their price target on shares of Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Edison International presently has an average rating of “Moderate Buy” and a consensus target price of $88.75.

Edison International Price Performance

Shares of EIX traded up $1.40 during mid-day trading on Thursday, reaching $82.85. 658,358 shares of the stock traded hands, compared to its average volume of 2,007,029. Edison International has a 1 year low of $62.21 and a 1 year high of $88.77. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The company has a market cap of $32.08 billion, a price-to-earnings ratio of 23.89, a price-to-earnings-growth ratio of 1.88 and a beta of 0.92. The firm has a fifty day moving average price of $85.17 and a 200 day moving average price of $79.08.

Edison International (NYSE:EIX) last posted its quarterly earnings data 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 net margin of 8.52% and a return on equity of 13.17%. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same period in the previous year, the firm posted $1.38 EPS. The firm’s revenue was up 10.6% compared to the same quarter last year. As a group, equities research analysts predict that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were given a dividend of $0.78 per share. The ex-dividend date was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.77%. Edison International’s dividend payout ratio (DPR) is 91.50%.

Insider Activity at Edison International

In related news, CEO J Andrew Murphy sold 23,896 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the transaction, the chief executive officer now owns 19,850 shares in the company, valued at $1,696,182.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO J Andrew Murphy sold 23,896 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the completion of the transaction, the chief executive officer now owns 19,850 shares in the company, valued at $1,696,182.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,878 shares of company stock worth $4,285,422 over the last quarter. Company insiders own 1.03% of the company’s stock.

Institutional Trading of Edison International

Hedge funds and other institutional investors have recently modified their holdings of the company. CreativeOne Wealth LLC purchased a new stake in shares of Edison International in the first quarter worth $230,000. Swedbank AB increased its stake in shares of Edison International by 76.3% in the second quarter. Swedbank AB now owns 446,637 shares of the utilities provider’s stock worth $32,073,000 after purchasing an additional 193,307 shares in the last quarter. Intech Investment Management LLC increased its stake in shares of Edison International by 44.9% in the first quarter. Intech Investment Management LLC now owns 46,263 shares of the utilities provider’s stock worth $3,272,000 after purchasing an additional 14,346 shares in the last quarter. Sei Investments Co. increased its stake in shares of Edison International by 14.5% in the first quarter. Sei Investments Co. now owns 321,567 shares of the utilities provider’s stock worth $22,744,000 after purchasing an additional 40,646 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in Edison International by 150.6% during the first quarter. Janus Henderson Group PLC now owns 169,742 shares of the utilities provider’s stock valued at $12,004,000 after acquiring an additional 102,000 shares in 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.