Edison International Declares Quarterly Dividend of $0.83 (NYSE:EIX)

Edison International (NYSE:EIX) announced a quarterly dividend on Thursday, February 27th, RTT News reports. Stockholders of record on Monday, April 7th will be given a dividend of 0.8275 per share by the utilities provider on Wednesday, April 30th. This represents a $3.31 annualized dividend and a dividend yield of 6.44%.

Edison International has increased its dividend payment by an average of 5.6% annually over the last three years and has raised its dividend annually for the last 22 consecutive years. Edison International has a dividend payout ratio of 54.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Edison International to earn $5.76 per share next year, which means the company should continue to be able to cover its $3.31 annual dividend with an expected future payout ratio of 57.5%.

Edison International Price Performance

Shares of EIX traded down $1.19 during trading hours on Thursday, hitting $51.43. 4,438,635 shares of the company were exchanged, compared to its average volume of 6,346,411. The company has a market capitalization of $19.91 billion, a PE ratio of 15.08, a PEG ratio of 1.07 and a beta of 0.90. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The firm has a fifty day simple moving average of $62.41 and a 200-day simple moving average of $76.87. Edison International has a one year low of $49.06 and a one year high of $88.77.

Edison International (NYSE:EIX) last released its quarterly earnings data on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.03). Edison International had a return on equity of 13.17% and a net margin of 8.52%. As a group, sell-side analysts predict that Edison International will post 4.95 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on EIX. Jefferies Financial Group began coverage on Edison International in a research report on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price for the company. Wells Fargo & Company raised their target price on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Barclays decreased their target price on Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $72.00 price objective on shares of Edison International in a report on Wednesday, February 12th. Finally, Morgan Stanley cut their target price on Edison International from $71.00 to $48.00 and set an “underweight” rating on the stock in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $80.11.

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.