Edison International (NYSE:EIX) Price Target Raised to $89.00

Edison International (NYSE:EIX) had its price target boosted by UBS Group from $86.00 to $89.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a neutral rating on the utilities provider’s stock.

Other analysts also recently issued reports about the stock. Morgan Stanley upped their price objective 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. Guggenheim upped their price objective on shares of Edison International from $80.00 to $83.00 and gave the stock a buy rating in a report on Friday, July 26th. Barclays upped their price objective on shares of Edison International from $80.00 to $91.00 and gave the stock an equal weight rating in a report on Wednesday. Wells Fargo & Company upped their price objective on shares of Edison International from $86.00 to $87.00 and gave the stock an overweight rating in a report on Friday, July 26th. Finally, Mizuho increased their price target on shares of Edison International from $75.00 to $85.00 and gave the company a buy rating in a report on Friday, May 17th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $82.36.

Edison International Stock Performance

EIX stock opened at $86.68 on Wednesday. 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 company has a market capitalization of $33.47 billion, a price-to-earnings ratio of 38.02 and a beta of 0.91. Edison International has a 12 month low of $58.82 and a 12 month high of $88.77. The firm has a 50 day moving average of $79.74 and a two-hundred day moving average of $74.23.

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

Edison International Announces Dividend

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

Insider Activity

In other news, CEO J Andrew Murphy sold 28,995 shares of the 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 completion of the transaction, the chief executive officer now owns 19,660 shares in the company, valued at approximately $1,541,933.80. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, VP Natalie K. Schilling sold 2,341 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total value of $187,280.00. Following the completion of the transaction, the vice president now owns 6,338 shares in the company, valued at approximately $507,040. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO J Andrew Murphy sold 28,995 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $78.43, for a total transaction 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 approximately $1,541,933.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 89,099 shares of company stock worth $7,223,342. 1.03% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Edison International

Hedge funds have recently made changes to their positions in the business. Benjamin F. Edwards & Company Inc. increased its position in shares of Edison International by 258.5% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 11,001 shares of the utilities provider’s stock worth $786,000 after purchasing an additional 7,932 shares in the last quarter. Axxcess Wealth Management LLC increased its position in shares of Edison International by 3.4% during the 4th quarter. Axxcess Wealth Management LLC now owns 6,681 shares of the utilities provider’s stock worth $478,000 after purchasing an additional 220 shares in the last quarter. Sapient Capital LLC acquired a new stake in shares of Edison International during the 4th quarter worth about $217,000. Lincoln National Corp increased its position in shares of Edison International by 4.7% during the 4th quarter. Lincoln National Corp now owns 14,175 shares of the utilities provider’s stock worth $1,013,000 after purchasing an additional 636 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Edison International by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,204,214 shares of the utilities provider’s stock worth $157,579,000 after purchasing an additional 38,738 shares in the last quarter. 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.