SunTrust Banks reaffirmed their buy rating on shares of Edison International (NYSE:EIX) in a report issued on Thursday. SunTrust Banks currently has a $85.00 price target on the utilities provider’s stock.
EIX has been the subject of several other reports. Morgan Stanley lifted their target price on shares of Edison International from $86.00 to $90.00 and gave the company an equal weight rating in a report on Thursday, August 10th. Jefferies Group raised shares of Edison International from a hold rating to a buy rating and lifted their target price for the company from $85.00 to $90.00 in a report on Friday, August 11th. BMO Capital Markets reaffirmed a buy rating and set a $85.00 target price on shares of Edison International in a report on Thursday, August 17th. BidaskClub raised shares of Edison International from a sell rating to a hold rating in a report on Tuesday, August 22nd. Finally, Mizuho reaffirmed a buy rating and set a $87.00 target price (up from $84.00) on shares of Edison International in a report on Wednesday, August 23rd. Eleven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $84.54.
Edison International (EIX) opened at $71.80 on Thursday. Edison International has a 1 year low of $67.80 and a 1 year high of $83.38. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.47 and a current ratio of 0.51. The stock has a market cap of $23,386.75, a P/E ratio of 16.35, a price-to-earnings-growth ratio of 2.60 and a beta of 0.23.
Edison International (NYSE:EIX) last posted its quarterly earnings results on Monday, October 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.10. Edison International had a net margin of 13.18% and a return on equity of 10.84%. The company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.53 billion. During the same period last year, the firm posted $1.29 EPS. Edison International’s revenue for the quarter was down 2.5% compared to the same quarter last year. equities analysts predict that Edison International will post 4.33 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, December 29th will be paid a $0.605 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $2.42 dividend on an annualized basis and a yield of 3.37%. This is a boost from Edison International’s previous quarterly dividend of $0.54. Edison International’s dividend payout ratio (DPR) is currently 48.98%.
In related news, insider Ronald L. Litzinger sold 224,718 shares of Edison International stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $82.00, for a total value of $18,426,876.00. Following the sale, the insider now owns 14,121 shares of the company’s stock, valued at approximately $1,157,922. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.41% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in EIX. USS Investment Management Ltd acquired a new stake in Edison International during the 3rd quarter worth $137,776,000. Capital International Investors acquired a new stake in Edison International during the 3rd quarter worth $95,783,000. Janus Henderson Group PLC boosted its stake in Edison International by 2,522.5% during the 2nd quarter. Janus Henderson Group PLC now owns 1,234,840 shares of the utilities provider’s stock worth $96,552,000 after purchasing an additional 1,187,754 shares during the last quarter. BT Investment Management Ltd acquired a new stake in Edison International during the 2nd quarter worth $55,640,000. Finally, Wells Fargo & Company MN boosted its stake in Edison International by 30.3% during the 3rd quarter. Wells Fargo & Company MN now owns 2,572,937 shares of the utilities provider’s stock worth $198,553,000 after purchasing an additional 598,402 shares during the last quarter. 81.36% of the stock is currently owned by institutional investors.
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Edison International Company Profile
Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.
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