Barclays Boosts Edison International (NYSE:EIX) Price Target to $75.00

Edison International (NYSE:EIX) had its price objective raised by Barclays from $72.00 to $75.00 in a report published on Thursday morning, Benzinga reports. Barclays currently has an equal weight rating on the utilities provider’s stock.

Several other brokerages also recently weighed in on EIX. TheStreet downgraded Edison International from a b rating to a c+ rating in a report on Thursday, February 22nd. Guggenheim upgraded Edison International from a neutral rating to a buy rating and raised their price objective for the stock from $66.00 to $84.00 in a research note on Monday, January 22nd. Royal Bank of Canada reduced their price objective on Edison International from $81.00 to $80.00 and set an outperform rating for the company in a research note on Thursday, March 7th. Mizuho reduced their price target on Edison International from $76.00 to $75.00 and set a buy rating for the company in a research report on Thursday, January 25th. Finally, The Goldman Sachs Group began coverage on Edison International in a research report on Wednesday, April 10th. They issued a neutral rating and a $78.00 price objective for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $72.78.

Edison International Stock Up 0.5 %

NYSE EIX traded up $0.37 during trading on Thursday, hitting $72.34. The company’s stock had a trading volume of 1,476,177 shares, compared to its average volume of 1,983,937. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.00 and a quick ratio of 0.73. The company has a market cap of $27.83 billion, a PE ratio of 31.73 and a beta of 0.95. The business’s 50 day simple moving average is $69.41 and its 200-day simple moving average is $67.93. Edison International has a fifty-two week low of $58.82 and a fifty-two week high of $74.40.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.01. The business had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.16 billion. Edison International had a return on equity of 12.48% and a net margin of 6.14%. The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the company earned $1.09 earnings per share. On average, equities analysts anticipate that Edison International will post 4.92 EPS for the current fiscal year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date of this dividend was Wednesday, March 27th. Edison International’s dividend payout ratio (DPR) is currently 136.84%.

Hedge Funds Weigh In On Edison International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Able Wealth Management LLC acquired a new position in shares of Edison International in the 4th quarter valued at $25,000. Bruce G. Allen Investments LLC acquired a new position in shares of Edison International in the 4th quarter valued at $27,000. Global Trust Asset Management LLC acquired a new position in shares of Edison International in the 1st quarter valued at $28,000. WASHINGTON TRUST Co lifted its stake in shares of Edison International by 117.4% in the 4th quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 270 shares during the last quarter. Finally, Northwest Financial Advisors acquired a new position in shares of Edison International in the 4th quarter valued at $40,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

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.