Guggenheim Downgrades Edison International (NYSE:EIX) to Neutral

Guggenheim cut shares of Edison International (NYSE:EIX) from a buy rating to a neutral rating in a research report report published on Thursday morning, MarketBeat.com reports.

A number of other research analysts have also weighed in on EIX. Jefferies Financial Group began coverage on shares of Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target on the stock. Morgan Stanley cut their target price on Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Wells Fargo & Company raised their price objective on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target for the company in a research note on Wednesday, January 15th. Finally, UBS Group cut their price objective on Edison International from $87.00 to $69.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Edison International has a consensus rating of “Moderate Buy” and an average target price of $82.88.

Edison International Price Performance

Shares of EIX stock opened at $57.10 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. Edison International has a 12-month low of $55.27 and a 12-month high of $88.77. The firm has a fifty day moving average of $78.19 and a 200-day moving average of $81.12. The firm has a market capitalization of $22.11 billion, a price-to-earnings ratio of 16.75, a price-to-earnings-growth ratio of 1.20 and a beta of 0.93.

Edison International (NYSE:EIX) last posted its 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. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company’s revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.38 earnings per share. On average, equities research analysts forecast that Edison International will post 4.94 earnings per share for the current year.

Edison International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th will be given a $0.8275 dividend. The ex-dividend date is Tuesday, January 7th. This represents a $3.31 dividend on an annualized basis and a yield of 5.80%. This is a positive change from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio (DPR) is currently 97.07%.

Insider Activity

In other news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Highline Wealth Partners LLC acquired a new position in Edison International in the 3rd quarter valued at approximately $26,000. Eastern Bank acquired a new stake in Edison International in the third quarter valued at $27,000. Crews Bank & Trust bought a new position in Edison International during the 4th quarter worth $25,000. Larson Financial Group LLC lifted its holdings in Edison International by 125.0% during the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after buying an additional 195 shares during the period. Finally, Prospera Private Wealth LLC bought a new stake in shares of Edison International in the 3rd quarter valued at about $32,000. 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.