Edison International (NYSE:EIX) Receives Average Recommendation of “Hold” from Analysts

Shares of Edison International (NYSE:EIXGet Rating) have received an average rating of “Hold” from the thirteen brokerages that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $69.27.

Several research firms recently issued reports on EIX. Credit Suisse Group reduced their target price on shares of Edison International from $64.00 to $59.00 and set a “neutral” rating for the company in a report on Friday, October 14th. Mizuho dropped their price target on Edison International from $71.00 to $58.00 and set a “neutral” rating for the company in a research note on Monday, November 7th. Guggenheim dropped their price target on Edison International from $82.00 to $66.00 in a research note on Monday, October 24th. Morgan Stanley upped their price target on Edison International from $58.00 to $59.00 and gave the stock an “underweight” rating in a research note on Monday. Finally, JPMorgan Chase & Co. dropped their price target on Edison International from $74.00 to $70.00 and set a “neutral” rating for the company in a research note on Tuesday, October 25th.

Edison International Trading Up 1.2 %

Edison International stock opened at $67.82 on Wednesday. The firm has a 50 day moving average of $65.47 and a 200 day moving average of $64.26. The firm has a market capitalization of $25.90 billion, a price-to-earnings ratio of 35.88, a P/E/G ratio of 5.46 and a beta of 0.75. Edison International has a 12-month low of $54.45 and a 12-month high of $73.32. The company has a current ratio of 0.60, a quick ratio of 0.55 and a debt-to-equity ratio of 1.64.

Edison International (NYSE:EIXGet Rating) last released its earnings results on Tuesday, November 1st. The utilities provider reported $1.48 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.48. The company had revenue of $5.23 billion during the quarter, compared to analyst estimates of $4.99 billion. Edison International had a net margin of 4.99% and a return on equity of 11.66%. As a group, research analysts predict that Edison International will post 4.56 earnings per share for the current year.

Edison International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Friday, December 30th will be given a dividend of $0.7375 per share. This is an increase from Edison International’s previous quarterly dividend of $0.70. This represents a $2.95 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend is Thursday, December 29th. Edison International’s dividend payout ratio is currently 156.09%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Edison International by 2.8% during the 3rd quarter. Vanguard Group Inc. now owns 46,704,150 shares of the utilities provider’s stock valued at $2,642,521,000 after acquiring an additional 1,250,820 shares during the last quarter. State Street Corp boosted its position in shares of Edison International by 2.0% during the 3rd quarter. State Street Corp now owns 29,265,929 shares of the utilities provider’s stock valued at $1,675,871,000 after acquiring an additional 562,352 shares during the last quarter. Deutsche Bank AG lifted its position in Edison International by 8.1% in the second quarter. Deutsche Bank AG now owns 6,822,323 shares of the utilities provider’s stock worth $431,444,000 after buying an additional 511,305 shares during the last quarter. Invesco Ltd. lifted its position in Edison International by 36.8% in the first quarter. Invesco Ltd. now owns 5,732,894 shares of the utilities provider’s stock worth $401,877,000 after buying an additional 1,541,989 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in Edison International by 9.6% in the second quarter. Legal & General Group Plc now owns 4,722,241 shares of the utilities provider’s stock worth $298,636,000 after buying an additional 413,987 shares during the last quarter. 87.19% of the stock is currently owned by institutional investors.

About Edison International

(Get Rating)

Edison International is a renewable energy company, which through its subsidiaries, generates and distributes electric power, and invests in energy services and technologies. The company was founded on July 4, 1886, and is headquartered in Rosemead, CA.

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Analyst Recommendations for Edison International (NYSE:EIX)

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