Edison International (NYSE:EIX) Research Coverage Started at Bank of America

Bank of America initiated coverage on shares of Edison International (NYSE:EIX) in a research note released on Thursday morning, Marketbeat reports. The brokerage issued a buy rating and a $95.00 price objective on the utilities provider’s stock.

Several other equities analysts have also weighed in on the stock. UBS Group upped their price objective on shares of Edison International from $86.00 to $89.00 and gave the company a neutral rating in a report on Wednesday, September 4th. Guggenheim lifted 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. Evercore ISI lifted their target price on shares of Edison International from $82.00 to $88.00 and gave the stock an outperform rating in a research report on Wednesday, August 14th. Barclays boosted their target price on Edison International from $80.00 to $91.00 and gave the stock an equal weight rating in a research note on Wednesday, September 4th. Finally, Mizuho increased their price target on Edison International from $75.00 to $85.00 and gave the company a buy rating in a research report on Friday, May 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Edison International currently has a consensus rating of Hold and a consensus target price of $84.67.

Edison International Stock Up 0.9 %

Shares of NYSE:EIX opened at $85.42 on Thursday. Edison International has a 1 year low of $58.82 and a 1 year high of $88.77. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.03 and a quick ratio of 0.96. The business’s 50-day moving average is $81.06 and its 200-day moving average is $74.89. The company has a market capitalization of $32.99 billion, a price-to-earnings ratio of 37.47 and a beta of 0.91.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. The firm had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.12 billion. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.01 EPS. Equities research analysts predict that Edison International will post 4.96 earnings per share for the current year.

Edison International Dividend Announcement

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

Insider Transactions at Edison International

In related news, CEO J Andrew Murphy sold 23,896 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $85.45, for a total value of $2,041,913.20. Following the sale, the chief executive officer now directly owns 19,850 shares in the company, valued at approximately $1,696,182.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO J Andrew Murphy sold 23,896 shares of Edison International stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $85.45, for a total value of $2,041,913.20. Following the completion of the transaction, the chief executive officer now owns 19,850 shares in the company, valued at $1,696,182.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Natalie K. Schilling sold 2,341 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the completion of the sale, the vice president now directly owns 6,338 shares in the company, valued at approximately $507,040. 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 owned by company insiders.

Hedge Funds Weigh In On Edison International

A number of large investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC purchased a new stake in Edison International during the 2nd quarter worth about $2,003,000. RiverFront Investment Group LLC increased its position in shares of Edison International by 24.3% during the second quarter. RiverFront Investment Group LLC now owns 5,786 shares of the utilities provider’s stock valued at $415,000 after buying an additional 1,133 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of Edison International by 0.5% in the second quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock worth $360,198,000 after buying an additional 24,834 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of Edison International by 0.5% in the second quarter. Cetera Investment Advisers now owns 105,345 shares of the utilities provider’s stock valued at $7,565,000 after acquiring an additional 540 shares during the period. Finally, EP Wealth Advisors LLC grew its stake in Edison International by 9.5% during the second quarter. EP Wealth Advisors LLC now owns 10,851 shares of the utilities provider’s stock valued at $779,000 after acquiring an additional 937 shares in the last quarter. 88.95% of the stock is owned by institutional investors.

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.