Edison International (NYSE:EIX) Given New $72.00 Price Target at Morgan Stanley

Edison International (NYSE:EIX) had its target price cut by Morgan Stanley from $74.00 to $72.00 in a research report released on Friday morning,Benzinga reports. They currently have an underweight rating on the utilities provider’s stock.

A number of other equities analysts have also recently issued reports on EIX. Jefferies Financial Group initiated coverage on Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 target price on the stock. Barclays upped their target price on shares of Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Bank of America began coverage on shares of Edison International in a report on Thursday, September 12th. They issued a “buy” rating and a $95.00 target price on the stock. Evercore ISI boosted their price target on shares of Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Finally, Argus raised their price objective on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Edison International has a consensus rating of “Moderate Buy” and a consensus price target of $88.75.

Edison International Stock Down 0.7 %

Shares of NYSE:EIX opened at $86.51 on Friday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The stock has a market cap of $33.49 billion, a price-to-earnings ratio of 25.37, a P/E/G ratio of 2.08 and a beta of 0.92. The company has a 50 day moving average of $84.64 and a 200-day moving average of $80.08. Edison International has a one year low of $63.15 and a one year high of $88.77.

Edison International (NYSE:EIX) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.01 billion. During the same quarter in the previous year, the business earned $1.38 EPS. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, sell-side analysts forecast that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date was Monday, October 7th. Edison International’s dividend payout ratio is presently 91.50%.

Insider Buying and Selling at Edison International

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the business’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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO J Andrew Murphy sold 23,896 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $85.45, for a total value of $2,041,913.20. Following the completion of the transaction, the chief executive officer now owns 19,850 shares of the company’s stock, valued at $1,696,182.50. The trade was a 54.62 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,516 shares of company stock worth $4,169,652. Corporate insiders own 1.03% of the company’s stock.

Hedge Funds Weigh In On Edison International

Hedge funds and other institutional investors have recently made changes to their positions in the company. Highline Wealth Partners LLC bought a new stake in Edison International during the third quarter worth $26,000. Groupama Asset Managment raised its holdings in shares of Edison International by 0.8% in the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 237 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in shares of Edison International in the 2nd quarter valued at about $27,000. Eastern Bank acquired a new stake in Edison International in the 3rd quarter valued at about $27,000. Finally, Country Trust Bank bought a new position in Edison International during the second quarter worth about $29,000. 88.95% of the stock is owned by 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.