Edison International (NYSE:EIX) Given Average Recommendation of “Hold” by Analysts

Shares of Edison International (NYSE:EIX) have been given a consensus rating of “Hold” by the fourteen brokerages that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $63.30.

Several brokerages recently weighed in on EIX. UBS Group reissued a “buy” rating on shares of Edison International in a report on Friday, January 16th. Barclays dropped their price target on Edison International from $68.00 to $67.00 and set an “overweight” rating on the stock in a research report on Thursday, January 22nd. Wells Fargo & Company downgraded shares of Edison International from an “equal weight” rating to an “underweight” rating and lifted their price objective for the stock from $56.00 to $59.00 in a report on Tuesday, January 20th. TD Cowen started coverage on shares of Edison International in a report on Thursday, October 16th. They set a “buy” rating and a $71.00 target price on the stock. Finally, Jefferies Financial Group decreased their price target on shares of Edison International from $59.00 to $54.00 and set a “hold” rating for the company in a report on Wednesday.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EIX. Wealth Science Advisors LLC acquired a new stake in Edison International in the fourth quarter worth $236,000. Chicago Partners Investment Group LLC increased its holdings in shares of Edison International by 128.7% in the 4th quarter. Chicago Partners Investment Group LLC now owns 23,765 shares of the utilities provider’s stock worth $1,444,000 after acquiring an additional 13,375 shares during the period. waypoint wealth counsel increased its holdings in shares of Edison International by 42.3% in the 4th quarter. waypoint wealth counsel now owns 15,607 shares of the utilities provider’s stock worth $937,000 after acquiring an additional 4,639 shares during the period. B. Metzler seel. Sohn & Co. AG lifted its position in Edison International by 7.4% in the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 17,106 shares of the utilities provider’s stock valued at $1,027,000 after purchasing an additional 1,183 shares during the last quarter. Finally, A&I Financial Services LLC acquired a new position in Edison International during the 4th quarter valued at about $750,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Down 0.5%

EIX stock opened at $62.30 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 1.95. The firm has a 50 day simple moving average of $59.65 and a 200-day simple moving average of $56.69. The company has a market capitalization of $23.97 billion, a P/E ratio of 8.14, a PEG ratio of 0.91 and a beta of 0.83. Edison International has a twelve month low of $47.73 and a twelve month high of $63.19.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $2.34 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.18. The firm had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.31 billion. Edison International had a net margin of 17.24% and a return on equity of 13.62%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.51 EPS. On average, equities research analysts predict that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, January 31st. Stockholders of record on Wednesday, January 7th will be issued a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a dividend yield of 5.6%. This is a boost from Edison International’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Wednesday, January 7th. Edison International’s dividend payout ratio is currently 45.88%.

Edison International Company Profile

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.