UBS Group Cuts Edison International (NYSE:EIX) Price Target to $69.00

Edison International (NYSE:EIX) had its target price reduced by UBS Group from $87.00 to $69.00 in a report issued on Thursday,Benzinga reports. UBS Group currently has a neutral rating on the utilities provider’s stock.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank of Canada lifted their target price 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 lifted their target price on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Barclays lowered their target price on shares of Edison International from $84.00 to $76.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Morgan Stanley lowered their target price on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Finally, Jefferies Financial Group began coverage on shares of Edison International in a research note on Thursday, November 7th. They set a “buy” rating and a $93.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Edison International currently has a consensus rating of “Moderate Buy” and an average price target of $83.58.

Edison International Price Performance

Edison International stock opened at $62.72 on Thursday. The company’s fifty day moving average price is $79.50 and its 200 day moving average price is $81.28. Edison International has a 1 year low of $55.27 and a 1 year high of $88.77. The stock has a market capitalization of $24.28 billion, a P/E ratio of 18.39, a P/E/G ratio of 1.34 and a beta of 0.93. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88.

Edison International (NYSE:EIX) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $5.01 billion. During the same quarter last year, the company earned $1.38 EPS. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 7th will be issued a $0.8275 dividend. This is a positive change from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 annualized dividend and a yield of 5.28%. The ex-dividend date of this dividend is Tuesday, January 7th. Edison International’s payout ratio is 97.07%.

Insider Activity at Edison International

In related 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 value of $2,127,657.95. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.20% of the stock is owned by insiders.

Institutional Trading of Edison International

Institutional investors and hedge funds have recently bought and sold shares of the business. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Edison International during the third quarter worth about $1,387,000. CHURCHILL MANAGEMENT Corp grew its position in shares of Edison International by 6.6% during the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 80,908 shares of the utilities provider’s stock worth $6,460,000 after buying an additional 5,011 shares in the last quarter. Stifel Financial Corp grew its position in shares of Edison International by 5.2% during the third quarter. Stifel Financial Corp now owns 309,716 shares of the utilities provider’s stock worth $26,973,000 after buying an additional 15,181 shares in the last quarter. Baker Avenue Asset Management LP acquired a new position in shares of Edison International during the third quarter worth about $2,291,000. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Edison International by 1.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 20,688 shares of the utilities provider’s stock worth $1,802,000 after buying an additional 389 shares in the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

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.