Morgan Stanley Boosts Edison International (NYSE:EIX) Price Target to $72.00

Edison International (NYSE:EIX) had its price target increased by Morgan Stanley from $68.00 to $72.00 in a research note released on Wednesday morning, Benzinga reports. The firm currently has an underweight rating on the utilities provider’s stock.

A number of other analysts have also weighed in on EIX. Guggenheim upped their target price on shares of Edison International from $80.00 to $83.00 and gave the stock a buy rating in a research note on Friday, July 26th. Wells Fargo & Company increased their price objective on shares of Edison International from $86.00 to $87.00 and gave the company an overweight rating in a research report on Friday, July 26th. Royal Bank of Canada reaffirmed an outperform rating and set a $94.00 price objective on shares of Edison International in a research report on Monday, September 16th. Barclays increased their target price on Edison International from $80.00 to $91.00 and gave the company an equal weight rating in a report on Wednesday, September 4th. Finally, Bank of America assumed coverage on Edison International in a report on Thursday, September 12th. They set a buy rating and a $95.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $86.17.

Edison International Trading Up 0.6 %

Shares of EIX stock opened at $86.80 on Wednesday. Edison International has a fifty-two week low of $58.82 and a fifty-two week high of $88.77. The company has a 50 day moving average price of $83.24 and a 200 day moving average price of $75.95. The stock has a market capitalization of $33.52 billion, a P/E ratio of 38.07, a price-to-earnings-growth ratio of 1.99 and a beta of 0.91. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.18. The business had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.12 billion. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the firm earned $1.01 earnings per share. Equities research analysts predict that Edison International will post 4.97 EPS for the current fiscal year.

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, October 7th will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date is Monday, October 7th. Edison International’s dividend payout ratio is currently 136.84%.

Insider Activity

In related news, CEO J Andrew Murphy sold 32,505 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.12, for a total value of $2,604,300.60. Following the completion of the sale, the chief executive officer now owns 19,660 shares in the company, valued at approximately $1,575,159.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP Natalie K. Schilling sold 2,341 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total transaction of $187,280.00. Following the transaction, the vice president now owns 6,338 shares of the company’s stock, valued at $507,040. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO J Andrew Murphy sold 32,505 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $80.12, for a total value of $2,604,300.60. Following the sale, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at $1,575,159.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,099 shares of company stock valued at $7,223,342. 1.03% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Able Wealth Management LLC purchased a new position in Edison International in the 4th quarter valued at $25,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Edison International in the 2nd quarter worth $27,000. Global Trust Asset Management LLC purchased a new stake in shares of Edison International in the first quarter valued at about $28,000. Country Trust Bank purchased a new position in Edison International during the second quarter worth about $29,000. Finally, Farmers & Merchants Investments Inc. lifted its position in Edison International by 53.8% in the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 140 shares during the period. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Company Profile

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.