Barclays Trims Edison International (NYSE:EIX) Target Price to $67.00

Edison International (NYSE:EIXGet Rating) had its price objective decreased by Barclays from $73.00 to $67.00 in a research note issued to investors on Monday morning, The Fly reports. Barclays currently has an equal weight rating on the utilities provider’s stock.

EIX has been the subject of a number of other reports. StockNews.com initiated coverage on shares of Edison International in a research report on Thursday, March 31st. They set a hold rating for the company. Citigroup boosted their target price on shares of Edison International from $67.00 to $79.00 in a research report on Wednesday, May 4th. Bank of America restated an underperform rating on shares of Edison International in a research report on Thursday, July 14th. Royal Bank of Canada boosted their target price on shares of Edison International from $73.00 to $82.00 and gave the company an outperform rating in a research report on Thursday, April 14th. Finally, Morgan Stanley decreased their price objective on shares of Edison International from $65.00 to $64.00 and set an equal weight rating for the company in a research report on Monday, May 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $73.00.

Edison International Price Performance

NYSE EIX opened at $60.98 on Monday. The firm’s fifty day simple moving average is $64.74 and its two-hundred day simple moving average is $65.48. The company has a current ratio of 0.63, a quick ratio of 0.58 and a debt-to-equity ratio of 1.59. Edison International has a 12-month low of $54.14 and a 12-month high of $73.32. The firm has a market capitalization of $23.22 billion, a P/E ratio of 39.86, a P/E/G ratio of 4.93 and a beta of 0.66.

Edison International (NYSE:EIXGet Rating) last released its quarterly earnings results on Tuesday, May 3rd. The utilities provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.33. Edison International had a net margin of 4.22% and a return on equity of 12.27%. The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.34 billion. During the same period in the previous year, the company earned $0.79 earnings per share. The business’s revenue for the quarter was up 34.1% on a year-over-year basis. Analysts forecast that Edison International will post 4.43 EPS for the current fiscal year.

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, July 31st. Investors of record on Tuesday, July 5th will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, July 1st. This represents a $2.80 annualized dividend and a yield of 4.59%. Edison International’s dividend payout ratio is presently 183.01%.

Institutional Trading of Edison International

Several large investors have recently bought and sold shares of EIX. Spire Wealth Management grew its stake in Edison International by 103.6% during the 4th quarter. Spire Wealth Management now owns 2,631 shares of the utilities provider’s stock valued at $180,000 after acquiring an additional 1,339 shares in the last quarter. Wealthfront Advisers LLC grew its stake in shares of Edison International by 30.6% in the 4th quarter. Wealthfront Advisers LLC now owns 51,556 shares of the utilities provider’s stock valued at $3,519,000 after buying an additional 12,089 shares during the period. Foundations Investment Advisors LLC purchased a new stake in shares of Edison International in the 4th quarter valued at approximately $224,000. Allworth Financial LP lifted its holdings in shares of Edison International by 7.4% in the 4th quarter. Allworth Financial LP now owns 12,022 shares of the utilities provider’s stock worth $821,000 after acquiring an additional 827 shares during the last quarter. Finally, Avantax Advisory Services Inc. lifted its holdings in shares of Edison International by 31.6% in the 4th quarter. Avantax Advisory Services Inc. now owns 6,511 shares of the utilities provider’s stock worth $444,000 after acquiring an additional 1,563 shares during the last quarter. Hedge funds and other institutional investors own 87.89% of the company’s stock.

Edison International Company Profile

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Edison International, through its subsidiaries, generates and distributes electric power. It delivers electricity to 15 million residential, commercial, industrial, public authorities, agricultural, and other customers across Southern, Central, and Coastal California. The company also provides energy solutions to commercial and industrial users.

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