Edison International (NYSE:EIX) to Issue $0.83 Quarterly Dividend

Edison International (NYSE:EIX) declared a quarterly dividend on Thursday, February 27th, RTT News reports. Stockholders of record on Monday, April 7th will be paid a dividend of 0.8275 per share by the utilities provider on Wednesday, April 30th. This represents a $3.31 annualized dividend and a dividend yield of 6.44%.

Edison International has raised its dividend payment by an average of 5.6% per year over the last three years and has increased its dividend every year for the last 22 years. Edison International has a dividend payout ratio of 54.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Edison International to earn $5.76 per share next year, which means the company should continue to be able to cover its $3.31 annual dividend with an expected future payout ratio of 57.5%.

Edison International Price Performance

Shares of EIX stock opened at $51.43 on Friday. The business’s fifty day moving average is $61.88 and its 200 day moving average is $76.70. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The stock has a market cap of $19.91 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 1.07 and a beta of 0.90. Edison International has a twelve month low of $49.06 and a twelve month high of $88.77.

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

Analyst Upgrades and Downgrades

EIX has been the subject of a number of analyst reports. LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price for the company in a research note on Wednesday, January 15th. Morgan Stanley reduced their price objective on Edison International from $71.00 to $48.00 and set an “underweight” rating for the company in a research report on Friday, February 14th. Guggenheim downgraded Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. restated a “neutral” rating and set a $72.00 price target on shares of Edison International in a report on Wednesday, February 12th. Finally, Jefferies Financial Group assumed coverage on Edison International in a research report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $80.11.

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.