Barclays Cuts Edison International (NYSE:EIX) Price Target to $64.00

Edison International (NYSE:EIX) had its target price trimmed by Barclays from $65.00 to $64.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the utilities provider’s stock.

Several other research firms also recently commented on EIX. Mizuho cut their target price on Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. The Goldman Sachs Group dropped their price target on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. JPMorgan Chase & Co. restated a “neutral” rating and set a $72.00 price objective on shares of Edison International in a research note on Wednesday, February 12th. Guggenheim cut shares of Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. Finally, LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target on the stock in a report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $76.75.

Edison International Trading Down 1.0 %

NYSE EIX opened at $55.48 on Tuesday. The firm has a market capitalization of $21.36 billion, a PE ratio of 16.27, a P/E/G ratio of 1.07 and a beta of 0.74. The stock’s 50 day moving average is $54.77 and its 200 day moving average is $70.35. Edison International has a twelve month low of $49.06 and a twelve month high of $88.77. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last announced 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 net margin of 8.52% and a return on equity of 13.17%. The business had revenue of $17.60 billion for the quarter, compared to the consensus estimate of $3.92 billion. Research analysts forecast that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be issued a $0.8275 dividend. This represents a $3.31 annualized dividend and a dividend yield of 5.97%. The ex-dividend date is Monday, April 7th. Edison International’s payout ratio is currently 100.30%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of EIX. Crews Bank & Trust purchased a new stake in shares of Edison International during the 4th quarter valued at about $25,000. Sierra Ocean LLC bought a new stake in Edison International during the fourth quarter valued at approximately $33,000. Raleigh Capital Management Inc. increased its holdings in Edison International by 285.3% during the fourth quarter. Raleigh Capital Management Inc. now owns 420 shares of the utilities provider’s stock valued at $34,000 after buying an additional 311 shares during the last quarter. Bellwether Advisors LLC bought a new position in Edison International in the fourth quarter worth approximately $34,000. Finally, ST Germain D J Co. Inc. boosted its stake in shares of Edison International by 88.1% during the 4th quarter. ST Germain D J Co. Inc. now owns 427 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 200 shares during the last quarter. Institutional investors 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.