Wells Fargo & Company Boosts Edison International (NYSE:EIX) Price Target to $94.00

Edison International (NYSE:EIX) had its target price raised by Wells Fargo & Company from $87.00 to $94.00 in a research report sent to investors on Wednesday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the utilities provider’s stock.

Several other equities research analysts also recently issued reports on EIX. Morgan Stanley increased their price objective on Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th. Evercore ISI lifted their price objective on shares of Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Argus upped their price objective on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. UBS Group boosted their price target on Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Finally, Barclays lowered their price objective on Edison International from $91.00 to $89.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $88.36.

Edison International Price Performance

NYSE EIX opened at $81.13 on Wednesday. Edison International has a 1 year low of $62.21 and a 1 year high of $88.77. The business’s fifty day moving average is $85.39 and its two-hundred day moving average is $78.73. The stock has a market capitalization of $31.41 billion, a P/E ratio of 23.79, a P/E/G ratio of 1.92 and a beta of 0.92. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.96 and a current ratio of 0.88.

Edison International (NYSE:EIX) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. During the same period in the previous year, the firm earned $1.38 earnings per share. Edison International’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, research analysts forecast that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were paid a $0.78 dividend. The ex-dividend date was Monday, October 7th. This represents a $3.12 annualized dividend and a dividend yield of 3.85%. Edison International’s payout ratio is 91.50%.

Insider Activity at Edison International

In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of Edison International stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the sale, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at approximately $1,696,182.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.03% of the stock is owned by corporate insiders.

Institutional Trading of Edison International

Several large investors have recently made changes to their positions in the business. Highline Wealth Partners LLC bought a new stake in Edison International during the 3rd quarter worth about $26,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Edison International during the second quarter valued at approximately $27,000. Eastern Bank bought a new stake in shares of Edison International during the third quarter valued at approximately $27,000. Country Trust Bank acquired a new stake in shares of Edison International in the second quarter valued at approximately $29,000. Finally, Farmers & Merchants Investments Inc. raised its position in Edison International by 53.8% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 140 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

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.