Edison International (NYSE:EIX) Now Covered by Jefferies Financial Group

Jefferies Financial Group started coverage on shares of Edison International (NYSE:EIX) in a research note issued to investors on Thursday, Marketbeat.com reports. The brokerage issued a buy rating and a $93.00 price target on the utilities provider’s stock.

EIX has been the subject of a number of other reports. Evercore ISI lifted their price objective on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. UBS Group lifted their price objective on shares of Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Royal Bank of Canada lifted their price objective on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Wells Fargo & Company raised their target price on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Barclays raised their target price on shares of Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $88.75.

Edison International Price Performance

EIX traded up $1.40 during trading on Thursday, hitting $82.85. 658,358 shares of the company traded hands, compared to its average volume of 2,007,029. The company has a market cap of $32.08 billion, a PE ratio of 23.89, a P/E/G ratio of 1.88 and a beta of 0.92. The stock’s 50-day simple moving average is $85.17 and its two-hundred day simple moving average is $79.08. Edison International has a 1 year low of $62.21 and a 1 year high of $88.77. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.01 billion. During the same period last year, the company posted $1.38 earnings per share. Edison International’s quarterly revenue was up 10.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.77%. Edison International’s payout ratio is 91.50%.

Insider Activity at Edison International

In other Edison International news, CEO J Andrew Murphy sold 1,362 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $85.00, for a total transaction of $115,770.00. Following the transaction, the chief executive officer now owns 19,850 shares of the company’s stock, valued at approximately $1,687,250. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO J Andrew Murphy sold 1,362 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $85.00, for a total transaction of $115,770.00. Following the transaction, the chief executive officer now directly owns 19,850 shares in the company, valued at $1,687,250. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,878 shares of company stock worth $4,285,422 in the last 90 days. 1.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Capital Research Global Investors grew its position in shares of Edison International by 1.7% in the 1st quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider’s stock worth $1,438,984,000 after buying an additional 345,189 shares during the last quarter. Capital International Investors grew its position in shares of Edison International by 6.4% in the 1st quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock worth $940,562,000 after buying an additional 795,950 shares during the last quarter. Clearbridge Investments LLC grew its position in shares of Edison International by 0.5% in the 2nd quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock worth $360,198,000 after buying an additional 24,834 shares during the last quarter. American Century Companies Inc. grew its position in shares of Edison International by 1.8% in the 2nd quarter. American Century Companies Inc. now owns 3,864,399 shares of the utilities provider’s stock worth $277,503,000 after buying an additional 67,089 shares during the last quarter. Finally, Hsbc Holdings PLC grew its position in shares of Edison International by 10.1% in the 2nd quarter. Hsbc Holdings PLC now owns 2,073,569 shares of the utilities provider’s stock worth $148,768,000 after buying an additional 190,026 shares during the last quarter. Hedge funds and other 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.