Edison International (NYSE:EIX) Given Consensus Recommendation of “Hold” by Brokerages

Edison International (NYSE:EIXGet Rating) has earned a consensus rating of “Hold” from the fourteen brokerages that are presently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $67.58.

EIX has been the topic of several recent research reports. Guggenheim dropped their price objective on shares of Edison International from $82.00 to $66.00 in a report on Monday, October 24th. Wells Fargo & Company dropped their price objective on shares of Edison International from $79.00 to $69.00 and set an “overweight” rating on the stock in a report on Wednesday, October 19th. Mizuho dropped their price objective on shares of Edison International from $71.00 to $58.00 and set a “neutral” rating on the stock in a report on Monday. Evercore ISI dropped their price objective on shares of Edison International to $71.00 in a report on Tuesday, August 9th. Finally, StockNews.com downgraded shares of Edison International from a “hold” rating to a “sell” rating in a report on Thursday, November 3rd.

Edison International Price Performance

EIX opened at $60.29 on Friday. The firm has a market cap of $23.02 billion, a P/E ratio of 31.90, a PEG ratio of 4.96 and a beta of 0.73. The firm has a 50-day moving average of $61.32 and a 200 day moving average of $64.62. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.55 and a current ratio of 0.60. Edison International has a fifty-two week low of $54.45 and a fifty-two week high of $73.32.

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 31st. Investors of record on Friday, September 30th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date of this dividend was Thursday, September 29th. Edison International’s dividend payout ratio is currently 148.15%.

Institutional Investors Weigh In On Edison International

A number of institutional investors and hedge funds have recently bought and sold shares of EIX. Capital International Investors raised its stake in Edison International by 50.1% in the first quarter. Capital International Investors now owns 18,792,163 shares of the utilities provider’s stock valued at $1,317,330,000 after purchasing an additional 6,272,409 shares in the last quarter. State Street Corp raised its stake in Edison International by 6.8% in the first quarter. State Street Corp now owns 27,888,808 shares of the utilities provider’s stock valued at $1,973,974,000 after purchasing an additional 1,780,762 shares in the last quarter. Invesco Ltd. raised its stake in Edison International by 36.8% in the first quarter. Invesco Ltd. now owns 5,732,894 shares of the utilities provider’s stock valued at $401,877,000 after purchasing an additional 1,541,989 shares in the last quarter. Prudential Financial Inc. raised its stake in Edison International by 116.6% in the second quarter. Prudential Financial Inc. now owns 1,904,395 shares of the utilities provider’s stock valued at $120,433,000 after purchasing an additional 1,025,096 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in Edison International by 73.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,785,779 shares of the utilities provider’s stock valued at $112,933,000 after purchasing an additional 755,886 shares in the last quarter. 87.21% of the stock is owned by hedge funds and other institutional investors.

Edison International Company Profile

(Get Rating)

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.

See Also

Analyst Recommendations for Edison International (NYSE:EIX)

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