Edison International (NYSE:EIX) Receives $73.60 Average Price Target from Analysts

Edison International (NYSE:EIX) has been given an average rating of “Hold” by the nine brokerages that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $73.60.

A number of equities research analysts have issued reports on EIX shares. Guggenheim upgraded Edison International from a “neutral” rating to a “buy” rating and raised their target price for the company from $66.00 to $84.00 in a research note on Monday, January 22nd. Barclays lifted their price objective on shares of Edison International from $69.00 to $70.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. TheStreet lowered Edison International from a “b” rating to a “c+” rating in a report on Thursday, February 22nd. Royal Bank of Canada dropped their price objective on Edison International from $81.00 to $80.00 and set an “outperform” rating on the stock in a research note on Thursday, March 7th. Finally, StockNews.com raised Edison International from a “sell” rating to a “hold” rating in a report on Saturday, February 24th.

Edison International Price Performance

Shares of EIX opened at $70.81 on Friday. The stock has a 50 day moving average of $68.70 and a 200-day moving average of $67.60. Edison International has a 52 week low of $58.82 and a 52 week high of $74.92. The firm has a market cap of $27.24 billion, a price-to-earnings ratio of 22.70 and a beta of 0.96. The company has a current ratio of 0.79, a quick ratio of 0.73 and a debt-to-equity ratio of 1.86.

Edison International (NYSE:EIX) last released its earnings results on Thursday, February 22nd. The utilities provider reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.12. Edison International had a net margin of 8.35% and a return on equity of 12.63%. The firm had revenue of $3.71 billion during the quarter, compared to analyst estimates of $4.19 billion. During the same quarter in the previous year, the firm earned $1.14 earnings per share. As a group, analysts forecast that Edison International will post 4.98 EPS for the current year.

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be paid a $0.78 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $3.12 dividend on an annualized basis and a yield of 4.41%. Edison International’s dividend payout ratio (DPR) is currently 100.00%.

Hedge Funds Weigh In On Edison International

Hedge funds have recently bought and sold shares of the business. First Trust Direct Indexing L.P. grew its stake in Edison International by 2.5% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 6,604 shares of the utilities provider’s stock valued at $418,000 after buying an additional 162 shares during the last quarter. Axxcess Wealth Management LLC boosted its position in shares of Edison International by 2.6% in the third quarter. Axxcess Wealth Management LLC now owns 6,461 shares of the utilities provider’s stock valued at $409,000 after acquiring an additional 164 shares during the period. CarsonAllaria Wealth Management Ltd. grew its stake in shares of Edison International by 3.9% in the third quarter. CarsonAllaria Wealth Management Ltd. now owns 4,432 shares of the utilities provider’s stock worth $281,000 after acquiring an additional 165 shares during the last quarter. Gibraltar Capital Management Inc. increased its position in Edison International by 1.5% during the fourth quarter. Gibraltar Capital Management Inc. now owns 11,599 shares of the utilities provider’s stock worth $829,000 after acquiring an additional 174 shares during the period. Finally, Corient Private Wealth LLC raised its stake in Edison International by 0.3% during the 4th quarter. Corient Private Wealth LLC now owns 61,247 shares of the utilities provider’s stock valued at $4,379,000 after purchasing an additional 175 shares during the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

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.