Edison International (NYSE:EIX) PT Lowered to $89.00 at Barclays

Edison International (NYSE:EIX) had its price objective reduced by Barclays from $91.00 to $89.00 in a research report report published on Tuesday, Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

Several other equities research analysts have also recently issued reports on EIX. Guggenheim boosted their price objective on shares of Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, July 26th. UBS Group boosted their price objective on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Argus upped their price target on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Evercore ISI upped their price target on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Finally, Bank of America assumed coverage on shares of Edison International in a research report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Edison International has a consensus rating of “Moderate Buy” and an average target price of $87.55.

Edison International Stock Up 0.9 %

EIX opened at $85.43 on Tuesday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03. Edison International has a fifty-two week low of $61.64 and a fifty-two week high of $88.77. The firm’s fifty day moving average is $85.31 and its 200 day moving average is $77.73. The stock has a market cap of $32.99 billion, a price-to-earnings ratio of 34.31, a price-to-earnings-growth ratio of 1.95 and a beta of 0.91.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.05 by $0.18. The company had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.12 billion. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.01 EPS. On average, sell-side analysts forecast that Edison International will post 4.97 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, October 7th will be paid a dividend of $0.78 per share. The ex-dividend date is Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.65%. Edison International’s payout ratio is 125.30%.

Insider Transactions at Edison International

In other news, CEO J Andrew Murphy sold 32,505 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.12, for a total value of $2,604,300.60. Following the sale, the chief executive officer now owns 19,660 shares in the company, valued at $1,575,159.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Natalie K. Schilling sold 2,341 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the sale, the vice president now directly owns 6,338 shares of the company’s stock, valued at approximately $507,040. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO J Andrew Murphy sold 32,505 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $80.12, for a total transaction of $2,604,300.60. Following the sale, the chief executive officer now directly owns 19,660 shares in the company, valued at $1,575,159.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 89,099 shares of company stock worth $7,223,342 over the last 90 days. 1.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Edison International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CreativeOne Wealth LLC purchased a new position in Edison International during the first quarter valued at $230,000. Swedbank AB lifted its holdings in Edison International by 76.3% during the second quarter. Swedbank AB now owns 446,637 shares of the utilities provider’s stock valued at $32,073,000 after purchasing an additional 193,307 shares in the last quarter. Brookstone Capital Management lifted its holdings in Edison International by 3,503.3% during the first quarter. Brookstone Capital Management now owns 135,341 shares of the utilities provider’s stock valued at $9,573,000 after purchasing an additional 131,585 shares in the last quarter. Intech Investment Management LLC lifted its holdings in Edison International by 44.9% during the first quarter. Intech Investment Management LLC now owns 46,263 shares of the utilities provider’s stock valued at $3,272,000 after purchasing an additional 14,346 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in shares of Edison International by 14.5% in the first quarter. Sei Investments Co. now owns 321,567 shares of the utilities provider’s stock worth $22,744,000 after buying an additional 40,646 shares in the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

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.