UBS Group Has Lowered Expectations for Edison International (NYSE:EIX) Stock Price

Edison International (NYSE:EIX) had its price target cut by UBS Group from $96.00 to $87.00 in a report released on Thursday,Benzinga reports. They currently have a neutral rating on the utilities provider’s stock.

Several other brokerages also recently commented on EIX. Morgan Stanley cut their price objective on Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. Bank of America initiated coverage on shares of Edison International in a research note on Thursday, September 12th. They issued a “buy” rating and a $95.00 price target on the stock. Wells Fargo & Company lifted 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. Barclays upped their target price on shares of Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada lifted their price objective on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, October 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $88.58.

Edison International Price Performance

Shares of Edison International stock opened at $77.93 on Thursday. The stock has a market cap of $30.17 billion, a price-to-earnings ratio of 22.85, a price-to-earnings-growth ratio of 1.96 and a beta of 0.92. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The stock has a 50 day moving average price of $83.88 and a 200-day moving average price of $81.24. Edison International has a one year low of $63.15 and a one year high of $88.77.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.13. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.38 earnings per share. Equities analysts expect that Edison International will post 4.94 EPS for the current year.

Edison International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 7th will be given a dividend of $0.8275 per share. This is a boost from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date is Tuesday, January 7th. This represents a $3.31 dividend on an annualized basis and a yield of 4.25%. Edison International’s dividend payout ratio is presently 97.07%.

Insiders Place Their Bets

In related news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.03% of the company’s stock.

Institutional Investors Weigh In On Edison International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lake Street Advisors Group LLC increased its holdings in shares of Edison International by 4.3% during the third quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock valued at $263,000 after acquiring an additional 124 shares in the last quarter. Baker Tilly Wealth Management LLC increased its stake in Edison International by 2.8% during the 3rd quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock valued at $416,000 after purchasing an additional 129 shares in the last quarter. SFE Investment Counsel raised its holdings in shares of Edison International by 0.3% in the third quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock worth $3,721,000 after buying an additional 130 shares during the last quarter. Equitable Trust Co. lifted its stake in shares of Edison International by 0.9% during the second quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider’s stock worth $1,108,000 after buying an additional 132 shares during the period. Finally, TIAA Trust National Association grew its holdings in shares of Edison International by 2.0% during the second quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock valued at $483,000 after buying an additional 134 shares during the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

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.