Barclays Cuts Edison International (NYSE:EIX) Price Target to $67.00

Edison International (NYSE:EIX) had its price target reduced by Barclays from $76.00 to $67.00 in a research note released on Thursday,Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

EIX has been the topic of a number of other research reports. Royal Bank of Canada lifted their target price on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Jefferies Financial Group started coverage on Edison International in a research report on Thursday, November 7th. They set a “buy” rating and a $93.00 price target on the stock. Morgan Stanley decreased their price objective on Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price on the stock in a report on Wednesday, January 15th. Finally, Wells Fargo & Company increased their price target on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.88.

Edison International Price Performance

Shares of NYSE EIX opened at $58.71 on Thursday. The stock’s 50-day simple moving average is $77.19 and its 200-day simple moving average is $80.86. 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 capitalization of $22.73 billion, a PE ratio of 17.22, a price-to-earnings-growth ratio of 1.20 and a beta of 0.93. Edison International has a fifty-two week low of $55.27 and a fifty-two week high of $88.77.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.13. The business had revenue of $5.20 billion during 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 company’s 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 EPS. As a group, equities research analysts forecast that Edison International will post 4.94 EPS for the current fiscal year.

Edison International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th will be issued a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 5.64%. The ex-dividend date is Tuesday, January 7th. This is a positive change from Edison International’s previous quarterly dividend of $0.78. Edison International’s payout ratio is currently 97.07%.

Insider Transactions at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction that occurred on Thursday, October 31st. The stock was 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 is available through the SEC website. Company insiders own 1.03% of the company’s stock.

Institutional Investors Weigh In On Edison International

A number of hedge funds and other institutional investors have recently bought and sold shares of EIX. Highline Wealth Partners LLC purchased a new position in shares of Edison International in the 3rd quarter valued at about $26,000. Eastern Bank acquired a new position in Edison International during the third quarter worth about $27,000. Crews Bank & Trust purchased a new position in Edison International in the fourth quarter valued at about $25,000. Larson Financial Group LLC lifted its position in shares of Edison International by 125.0% during the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 195 shares during the period. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Edison International during the 3rd quarter worth approximately $32,000. Institutional investors and hedge funds 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.