Edison International (NYSE:EIX) Receives $76.54 Average Price Target from Brokerages

Edison International (NYSE:EIX) has earned an average rating of “Moderate Buy” from the fourteen research firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $76.54.

Several research firms recently commented on EIX. LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective on the stock in a research report on Wednesday, January 15th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $72.00 price objective on shares of Edison International in a research report on Wednesday, February 12th. Mizuho dropped their price objective on Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. Guggenheim downgraded Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Finally, Barclays decreased their target price on Edison International from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd.

Edison International Trading Up 2.1 %

NYSE EIX opened at $57.01 on Monday. Edison International has a 12 month low of $49.06 and a 12 month high of $88.77. The stock has a market cap of $21.95 billion, a P/E ratio of 16.72, a P/E/G ratio of 1.07 and a beta of 0.87. The stock’s fifty day moving average price is $56.56 and its 200-day moving average price is $74.41. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last released its earnings results on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company had revenue of $17.60 billion during the quarter, compared to analysts’ expectations of $3.92 billion. As a group, equities analysts forecast that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be issued a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.81%. The ex-dividend date is Monday, April 7th. Edison International’s dividend payout ratio (DPR) is 100.30%.

Hedge Funds Weigh In On Edison International

A number of institutional investors and hedge funds have recently modified their holdings of EIX. Norges Bank bought a new stake in Edison International during the 4th quarter valued at $323,443,000. Canada Pension Plan Investment Board raised its position in Edison International by 364.1% during the 4th quarter. Canada Pension Plan Investment Board now owns 3,369,535 shares of the utilities provider’s stock valued at $269,024,000 after purchasing an additional 2,643,571 shares in the last quarter. Northern Trust Corp raised its position in Edison International by 53.9% during the 4th quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider’s stock valued at $459,642,000 after purchasing an additional 2,016,017 shares in the last quarter. FMR LLC raised its position in Edison International by 8.7% during the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock valued at $1,898,638,000 after purchasing an additional 1,741,835 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in Edison International by 149.3% during the 4th quarter. Ameriprise Financial Inc. now owns 2,793,795 shares of the utilities provider’s stock valued at $223,057,000 after purchasing an additional 1,673,204 shares in the last quarter. Hedge funds and other institutional investors 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.