Barclays Increases Edison International (NYSE:EIX) Price Target to $91.00

Edison International (NYSE:EIX) had its target price lifted by Barclays from $80.00 to $91.00 in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the utilities provider’s stock.

A number of other analysts have also recently commented on the company. UBS Group cut Edison International from a buy rating to a neutral rating and dropped their price target for the stock from $83.00 to $82.00 in a research report on Friday, July 19th. Mizuho increased their target price on Edison International from $75.00 to $85.00 and gave the stock a buy rating in a research note on Friday, May 17th. Guggenheim lifted their price target on Edison International from $80.00 to $83.00 and gave the stock a buy rating in a research report on Friday, July 26th. Argus increased their price objective on shares of Edison International from $78.00 to $82.00 and gave the company a buy rating in a research report on Wednesday, June 12th. Finally, Morgan Stanley lifted their target price on shares of Edison International from $62.00 to $68.00 and gave the stock an underweight rating in a report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus target price of $82.36.

Edison International Price Performance

Shares of EIX stock opened at $86.68 on Wednesday. The business’s fifty day moving average is $79.74 and its 200 day moving average is $74.23. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 2.04. The stock has a market cap of $33.47 billion, a price-to-earnings ratio of 38.02 and a beta of 0.91. Edison International has a twelve month low of $58.82 and a twelve month high of $88.77.

Edison International (NYSE:EIX) last released its earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The firm had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same period in the prior year, the firm earned $1.01 EPS. The company’s revenue was up 9.4% compared to the same quarter last year. Research analysts expect that Edison International will post 4.94 EPS for the current fiscal year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, July 8th were paid a $0.78 dividend. The ex-dividend date was Monday, July 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.60%. Edison International’s dividend payout ratio is presently 136.84%.

Insider Activity at Edison International

In other Edison International news, CEO J Andrew Murphy sold 28,995 shares of Edison International stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 19,660 shares of the company’s stock, valued at approximately $1,541,933.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Edison International news, VP Natalie K. Schilling sold 2,341 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total value of $187,280.00. Following the transaction, the vice president now directly owns 6,338 shares of the company’s stock, valued at $507,040. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO J Andrew Murphy sold 28,995 shares of the business’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 sale, the chief executive officer now owns 19,660 shares of the company’s stock, valued at $1,541,933.80. The disclosure for this sale can be found here. Insiders have sold a total of 89,099 shares of company stock worth $7,223,342 over the last quarter. Company insiders own 1.03% of the company’s stock.

Hedge Funds Weigh In On Edison International

Institutional investors and hedge funds have recently made changes to their positions in the business. Equitable Trust Co. increased its holdings in Edison International by 0.9% during the second quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider’s stock valued at $1,108,000 after buying an additional 132 shares during the last quarter. TIAA Trust National Association grew its position in shares of Edison International by 2.0% during the 2nd quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock valued at $483,000 after acquiring an additional 134 shares during the period. Farmers & Merchants Investments Inc. increased its stake in shares of Edison International by 53.8% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 140 shares in the last quarter. Asset Dedication LLC raised its holdings in Edison International by 37.5% in the 2nd quarter. Asset Dedication LLC now owns 550 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 150 shares during the period. Finally, Carson Advisory Inc. lifted its position in Edison International by 0.3% during the first quarter. Carson Advisory Inc. now owns 54,625 shares of the utilities provider’s stock valued at $3,864,000 after purchasing an additional 152 shares in the last quarter. Hedge funds and other institutional investors 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.