Edison International (NYSE:EIX) to Issue $0.78 Quarterly Dividend

Edison International (NYSE:EIX) declared a quarterly dividend on Monday, September 23rd, NASDAQ reports. Investors of record on Monday, October 7th will be paid a dividend of 0.78 per share by the utilities provider on Thursday, October 31st. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date is Monday, October 7th.

Edison International has raised its dividend payment by an average of 5.1% annually over the last three years and has increased its dividend annually for the last 21 consecutive years. Edison International has a dividend payout ratio of 55.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Edison International to earn $5.65 per share next year, which means the company should continue to be able to cover its $3.12 annual dividend with an expected future payout ratio of 55.2%.

Edison International Stock Performance

Shares of NYSE:EIX opened at $86.18 on Friday. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.03 and a quick ratio of 0.96. The business’s fifty day moving average price is $84.56 and its two-hundred day moving average price is $76.75. Edison International has a fifty-two week low of $58.82 and a fifty-two week high of $88.77. The stock has a market capitalization of $33.28 billion, a price-to-earnings ratio of 37.80, a price-to-earnings-growth ratio of 2.02 and a beta of 0.91.

Edison International (NYSE:EIX) last posted its earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.18. The business had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.12 billion. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.01 EPS. As a group, analysts predict that Edison International will post 4.97 EPS for the current fiscal year.

Insider Transactions at Edison International

In other news, CEO J Andrew Murphy sold 28,995 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $78.43, for a total value of $2,274,077.85. Following the sale, the chief executive officer now owns 19,660 shares of the company’s stock, valued at $1,541,933.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, VP Natalie K. Schilling sold 2,341 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the completion of the transaction, the vice president now directly owns 6,338 shares in the company, valued at $507,040. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO J Andrew Murphy sold 28,995 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $78.43, for a total value of $2,274,077.85. Following the completion of the transaction, the chief executive officer now owns 19,660 shares of the company’s stock, valued at $1,541,933.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 89,099 shares of company stock valued at $7,223,342 in the last ninety days. 1.03% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Barclays lifted their price target on shares of Edison International from $80.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 4th. Guggenheim lifted their target price on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Wells Fargo & Company boosted their target price on Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Bank of America began coverage on 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, Morgan Stanley boosted their price objective on Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Edison International currently has a consensus rating of “Hold” and an average price target of $86.67.

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.