Barclays Cuts Edison International (NYSE:EIX) Price Target to $67.00

Edison International (NYSE:EIX) had its price target trimmed by Barclays from $76.00 to $67.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the utilities provider’s stock.

Several other equities research analysts also recently issued reports on the stock. Jefferies Financial Group initiated coverage on shares of Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price for the company. UBS Group cut their price objective on Edison International from $87.00 to $69.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Royal Bank of Canada boosted their target price on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Morgan Stanley cut their price target on Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Finally, LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective for the company in a research report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $82.88.

Edison International Stock Down 2.0 %

EIX stock opened at $57.10 on Thursday. The company has a market cap of $22.11 billion, a price-to-earnings ratio of 16.75, a P/E/G ratio of 1.20 and a beta of 0.93. Edison International has a twelve month low of $55.27 and a twelve month high of $88.77. The business has a 50 day moving average price of $78.19 and a two-hundred day moving average price of $81.12. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96.

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

Edison International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th will be issued a dividend of $0.8275 per share. The ex-dividend date is Tuesday, January 7th. This is a boost from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 annualized dividend and a dividend yield of 5.80%. Edison International’s dividend payout ratio (DPR) is currently 97.07%.

Insider Activity

In related news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction that occurred 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 is accessible through this link. 1.03% of the stock is owned by company insiders.

Hedge Funds Weigh In On Edison International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Custom Index Systems LLC acquired a new stake in shares of Edison International during the 4th quarter worth $233,000. Heck Capital Advisors LLC acquired a new position in Edison International in the fourth quarter valued at about $65,000. Caprock Group LLC bought a new stake in Edison International during the fourth quarter worth about $565,000. Mediolanum International Funds Ltd acquired a new stake in Edison International during the fourth quarter worth about $583,000. Finally, Crews Bank & Trust bought a new position in Edison International in the 4th quarter valued at about $25,000. 88.95% of the stock is owned by institutional investors and hedge funds.

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.