Edison International (NYSE:EIX) Receives $88.75 Consensus Target Price from Analysts

Shares of Edison International (NYSE:EIX) have been assigned an average recommendation of “Moderate Buy” from the twelve ratings firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $88.75.

Several brokerages have recently weighed in on EIX. Wells Fargo & Company lifted their target price on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. UBS Group lifted their target price 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. Jefferies Financial Group began coverage on shares of Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price on the stock. Morgan Stanley lowered their target price on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Finally, Bank of America assumed coverage on shares of Edison International in a report on Thursday, September 12th. They issued a “buy” rating and a $95.00 target price on the stock.

Edison International Trading Down 0.5 %

NYSE EIX opened at $84.33 on Friday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The firm has a market cap of $32.65 billion, a PE ratio of 24.73, a P/E/G ratio of 2.05 and a beta of 0.92. Edison International has a one year low of $63.15 and a one year high of $88.77. The firm’s fifty day moving average is $84.84 and its two-hundred day moving average is $80.78.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.13. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.38 earnings per share. Analysts expect that Edison International will post 4.94 earnings per share for the current year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s dividend payout ratio is currently 91.50%.

Insider Buying and Selling

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.20% of the stock is owned by insiders.

Institutional Trading of Edison International

Institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC raised its position in shares of Edison International by 8.7% in the third quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock valued at $1,898,638,000 after buying an additional 1,741,835 shares during the last quarter. abrdn plc raised its position in shares of Edison International by 166.4% in the third quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock valued at $123,149,000 after buying an additional 885,955 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Edison International by 117.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 781,736 shares of the utilities provider’s stock valued at $68,081,000 after buying an additional 422,752 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Edison International by 595.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 318,672 shares of the utilities provider’s stock valued at $22,884,000 after buying an additional 272,876 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Edison International in the second quarter valued at approximately $18,484,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

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.