Several other research firms also recently issued reports on EIX. Morgan Stanley lifted their price objective on Edison International from $66.00 to $69.00 and gave the stock an equal weight rating in a report on Friday, July 17th. Royal Bank of Canada reaffirmed a buy rating and issued a $68.00 price target on shares of Edison International in a report on Thursday, April 30th. KeyCorp raised their price objective on shares of Edison International from $66.00 to $69.00 and gave the stock an overweight rating in a report on Tuesday, July 21st. Wells Fargo & Co dropped their target price on shares of Edison International from $75.00 to $65.00 and set an equal weight rating for the company in a research report on Friday, May 1st. Finally, Bank of America raised shares of Edison International from a neutral rating to a buy rating and reduced their price target for the stock from $69.00 to $63.00 in a research report on Monday, May 4th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $71.20.
EIX opened at $55.67 on Wednesday. Edison International has a twelve month low of $43.63 and a twelve month high of $78.93. The firm has a market cap of $20.75 billion, a price-to-earnings ratio of 17.96, a PEG ratio of 3.68 and a beta of 0.48. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.17. The company has a fifty day simple moving average of $55.93 and a 200 day simple moving average of $61.81.
Edison International (NYSE:EIX) last posted its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.11). Edison International had a net margin of 9.42% and a return on equity of 9.80%. The firm had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same period in the previous year, the company earned $1.58 earnings per share. The business’s quarterly revenue was up 6.0% on a year-over-year basis. On average, analysts forecast that Edison International will post 4.46 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Monday, July 6th were issued a $0.6375 dividend. This represents a $2.55 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date was Thursday, July 2nd. Edison International’s dividend payout ratio (DPR) is currently 54.26%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in EIX. Norges Bank bought a new stake in Edison International in the fourth quarter valued at about $369,085,000. Clearbridge Investments LLC grew its holdings in shares of Edison International by 45.8% during the first quarter. Clearbridge Investments LLC now owns 6,132,666 shares of the utilities provider’s stock worth $336,009,000 after purchasing an additional 1,926,165 shares during the last quarter. Pictet Asset Management Ltd. raised its stake in shares of Edison International by 42.3% in the first quarter. Pictet Asset Management Ltd. now owns 6,319,529 shares of the utilities provider’s stock worth $346,247,000 after acquiring an additional 1,878,746 shares during the last quarter. BlackRock Inc. raised its position in Edison International by 5.1% in the 1st quarter. BlackRock Inc. now owns 31,082,204 shares of the utilities provider’s stock worth $1,702,994,000 after purchasing an additional 1,519,899 shares during the last quarter. Finally, Capital Research Global Investors boosted its position in Edison International by 65.1% in the 1st quarter. Capital Research Global Investors now owns 3,784,317 shares of the utilities provider’s stock valued at $207,343,000 after buying an additional 1,491,915 shares during the last quarter. Institutional investors and hedge funds own 87.36% of the company’s stock.
Edison International Company Profile
Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.
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