Edison International (NYSE:EIX) Reaches New 1-Year High at $87.54

Edison International (NYSE:EIX) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $87.54 and last traded at $87.48, with a volume of 567827 shares. The stock had previously closed at $87.03.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on EIX shares. Wells Fargo & Company raised their price target on Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Evercore ISI lifted their price objective on Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Morgan Stanley lifted their price objective on Edison International from $62.00 to $68.00 and gave the company an “underweight” rating in a report on Friday, August 23rd. UBS Group lifted their price objective on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Barclays lifted their price objective on Edison International from $80.00 to $91.00 and gave the company an “equal weight” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $82.36.

Edison International Price Performance

The company’s 50 day moving average price is $79.13 and its 200-day moving average price is $73.99. The company has a market capitalization of $33.84 billion, a PE ratio of 38.44 and a beta of 0.91. The company has a current ratio of 1.03, a quick ratio of 0.96 and a debt-to-equity ratio of 2.04.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.18. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The company had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same period in the previous year, the company earned $1.01 EPS. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, sell-side analysts forecast that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 8th were given 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 yield of 3.56%. Edison International’s dividend payout ratio (DPR) is 136.84%.

Insider Buying and Selling

In other Edison International news, CEO J Andrew Murphy sold 28,995 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $78.43, for a total value of $2,274,077.85. Following the completion of the transaction, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at approximately $1,541,933.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Edison International news, CEO J Andrew Murphy sold 28,995 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $78.43, for a total value of $2,274,077.85. Following the completion of the transaction, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at approximately $1,541,933.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Natalie K. Schilling sold 2,341 shares of the company’s stock in a transaction dated 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 transaction, the vice president now directly owns 6,338 shares of the company’s stock, valued at $507,040. The disclosure for this sale can be found here. In the last three months, insiders sold 89,099 shares of company stock valued at $7,223,342. Company insiders own 1.03% of the company’s stock.

Institutional Investors Weigh In On Edison International

A number of institutional investors have recently modified their holdings of the stock. Equitable Trust Co. raised its stake in 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 acquiring an additional 132 shares during the period. TIAA Trust National Association increased its stake in shares of Edison International by 2.0% in the second quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock valued at $483,000 after purchasing an additional 134 shares during the period. Farmers & Merchants Investments Inc. increased its stake in shares of Edison International by 53.8% in the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 140 shares during the period. Asset Dedication LLC increased its stake in shares of Edison International by 37.5% in the second quarter. Asset Dedication LLC now owns 550 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 150 shares during the period. Finally, Carson Advisory Inc. increased its stake in shares of Edison International by 0.3% in the first quarter. Carson Advisory Inc. now owns 54,625 shares of the utilities provider’s stock valued at $3,864,000 after purchasing an additional 152 shares during the period. Institutional investors and hedge funds 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.