Brokerages Set Edison International (NYSE:EIX) PT at $72.64

Shares of Edison International (NYSE:EIX) have been assigned a consensus recommendation of “Hold” from the twelve analysts that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $72.6364.

A number of equities analysts have recently commented on the stock. Wells Fargo & Company reissued an “underweight” rating and issued a $62.00 target price on shares of Edison International in a research note on Tuesday, April 21st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Edison International in a research report on Monday, July 13th. Barclays increased their price target on Edison International from $77.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Seaport Research Partners cut Edison International from a “buy” rating to a “neutral” rating in a research note on Monday, April 20th. Finally, Bank of America decreased their target price on Edison International from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Monday, April 20th.

Hedge Funds Weigh In On Edison International

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Edison International by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 52,220,399 shares of the utilities provider’s stock worth $3,134,268,000 after purchasing an additional 480,726 shares in the last quarter. State Street Corp grew its holdings in Edison International by 3.0% during the 4th quarter. State Street Corp now owns 33,141,204 shares of the utilities provider’s stock valued at $1,989,135,000 after purchasing an additional 953,800 shares in the last quarter. AQR Capital Management LLC grew its holdings in Edison International by 69.9% during the 4th quarter. AQR Capital Management LLC now owns 18,285,152 shares of the utilities provider’s stock valued at $1,097,475,000 after purchasing an additional 7,521,168 shares in the last quarter. Geode Capital Management LLC increased its stake in Edison International by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 13,018,379 shares of the utilities provider’s stock worth $803,407,000 after buying an additional 386,905 shares during the period. Finally, Northern Trust Corp increased its stake in Edison International by 12.3% during the 4th quarter. Northern Trust Corp now owns 6,070,324 shares of the utilities provider’s stock worth $364,341,000 after buying an additional 662,477 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Stock Down 1.4%

EIX opened at $78.64 on Thursday. Edison International has a 1 year low of $51.01 and a 1 year high of $80.90. The firm has a 50 day moving average price of $73.76 and a 200 day moving average price of $70.58. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.68 and a current ratio of 0.74. The company has a market cap of $30.26 billion, a PE ratio of 8.54, a price-to-earnings-growth ratio of 6.20 and a beta of 0.66.

Edison International (NYSE:EIX) last released its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.10. Edison International had a net margin of 19.27% and a return on equity of 14.56%. The company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same period in the previous year, the firm earned $1.37 earnings per share. Edison International’s revenue for the quarter was up 7.7% on a year-over-year basis. Sell-side analysts expect that Edison International will post 6.13 earnings per share for the current year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, July 7th will be given a dividend of $0.8775 per share. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a $3.51 annualized dividend and a yield of 4.5%. Edison International’s payout ratio is 38.11%.

About Edison International

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.