Edison International (NYSE:EIX) Given New $97.00 Price Target at Argus

Edison International (NYSE:EIX) had its price target hoisted by Argus from $82.00 to $97.00 in a research report sent to investors on Wednesday, Benzinga reports. The firm currently has a buy rating on the utilities provider’s stock.

Several other equities research analysts also recently weighed in on EIX. Mizuho raised their target price on shares of Edison International from $75.00 to $85.00 and gave the company a buy rating in a research note on Friday, May 17th. UBS Group boosted their target price on Edison International from $86.00 to $89.00 and gave the stock a neutral rating in a research note on Wednesday, September 4th. Wells Fargo & Company increased their price target on Edison International from $86.00 to $87.00 and gave the company an overweight rating in a research note on Friday, July 26th. Guggenheim boosted their price target on Edison International from $80.00 to $83.00 and gave the stock a buy rating in a research note on Friday, July 26th. Finally, Morgan Stanley upped their target price on Edison International from $62.00 to $68.00 and gave the company an underweight rating in a research report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $84.67.

Edison International Trading Up 0.9 %

EIX opened at $85.42 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 0.96 and a debt-to-equity ratio of 2.04. The firm has a market cap of $32.99 billion, a price-to-earnings ratio of 37.47 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 stock has a fifty day moving average price of $81.06 and a 200-day moving average price of $74.84.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, July 25th. The utilities provider reported $1.23 EPS 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 business had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same period in the previous year, the company posted $1.01 earnings per share. The firm’s revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts anticipate that Edison International will post 4.96 earnings per share for the current fiscal year.

Edison International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, July 8th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.65%. Edison International’s payout ratio is 136.84%.

Insider Activity at Edison International

In other 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 transaction of $187,280.00. Following the sale, the vice president now directly owns 6,338 shares in the company, valued at approximately $507,040. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Natalie K. Schilling sold 2,341 shares of the business’s 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 sale, the vice president now owns 6,338 shares of the company’s stock, valued at approximately $507,040. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO J Andrew Murphy sold 28,995 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $78.43, for a total transaction of $2,274,077.85. Following the sale, the chief executive officer now directly 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. Over the last quarter, insiders have sold 89,099 shares of company stock worth $7,223,342. 1.03% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EIX. Able Wealth Management LLC acquired a new stake in shares of Edison International in the fourth quarter valued at about $25,000. Ashton Thomas Private Wealth LLC acquired a new stake in Edison International in the 2nd quarter valued at about $27,000. Global Trust Asset Management LLC acquired a new stake in Edison International in the 1st quarter valued at about $28,000. Country Trust Bank purchased a new position in Edison International in the 2nd quarter worth approximately $29,000. Finally, Farmers & Merchants Investments Inc. boosted its holdings in shares of Edison International by 53.8% during 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 during the last quarter. Hedge funds and other institutional investors 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.