Edison International (NYSE:EIX) Price Target Cut to $69.00 by Analysts at UBS Group

Edison International (NYSE:EIX) had its price target trimmed by UBS Group from $87.00 to $69.00 in a report published on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the utilities provider’s stock.

EIX has been the subject of a number of other research reports. Barclays cut their target price on shares of Edison International from $84.00 to $76.00 and set an “overweight” rating for the company in a research note on Monday. Jefferies Financial Group assumed coverage on shares of Edison International in a research note on Thursday, November 7th. They set a “buy” rating and a $93.00 target price on the stock. LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price for the company in a research report on Wednesday. Royal Bank of Canada boosted their price target on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, Wells Fargo & Company increased their price objective on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $83.58.

Edison International Stock Down 0.2 %

Shares of EIX opened at $61.16 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The firm has a market cap of $23.68 billion, a P/E ratio of 17.94, a PEG ratio of 1.34 and a beta of 0.93. The stock’s 50 day moving average is $80.31 and its two-hundred day moving average is $81.48. Edison International has a 12 month low of $55.27 and a 12 month high of $88.77.

Edison International (NYSE:EIX) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.38 EPS. Analysts predict that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th will be given a $0.8275 dividend. This is a positive change from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Tuesday, January 7th. This represents a $3.31 dividend on an annualized basis and a yield of 5.41%. Edison International’s payout ratio is presently 97.07%.

Insiders Place Their Bets

In other news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Federated Hermes Inc. grew its stake in shares of Edison International by 87.9% in the second quarter. Federated Hermes Inc. now owns 3,326 shares of the utilities provider’s stock worth $239,000 after acquiring an additional 1,556 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Edison International by 15.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 10,485 shares of the utilities provider’s stock valued at $753,000 after purchasing an additional 1,388 shares during the period. Envestnet Asset Management Inc. grew its stake in Edison International by 1.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 486,400 shares of the utilities provider’s stock worth $34,928,000 after purchasing an additional 4,726 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Edison International by 15.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,635,880 shares of the utilities provider’s stock worth $117,476,000 after purchasing an additional 218,762 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in Edison International in the 2nd quarter valued at about $18,484,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

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.