Edison International (NYSE:EIX) had its target price hoisted by Citigroup Inc. from $84.00 to $87.00 in a research note released on Tuesday morning. The brokerage currently has a neutral rating on the utilities provider’s stock.
EIX has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of Edison International from a hold rating to a buy rating and set a $86.00 target price on the stock in a research note on Thursday, July 6th. Jefferies Group LLC upgraded shares of Edison International from a hold rating to a buy rating and lifted their target price for the company from $85.00 to $90.00 in a research note on Friday, August 11th. Morgan Stanley lifted their target price on shares of Edison International from $90.00 to $92.00 and gave the company an equal weight rating in a research note on Friday, September 8th. Royal Bank Of Canada restated a buy rating and set a $84.00 target price on shares of Edison International in a research note on Sunday, September 17th. Finally, Mizuho restated a buy rating and set a $87.00 target price (up previously from $84.00) on shares of Edison International in a research note on Wednesday, August 23rd. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $85.00.
Edison International (NYSE:EIX) traded up 0.16% on Tuesday, hitting $79.60. 1,795,688 shares of the stock traded hands. The company’s 50 day moving average price is $79.00 and its 200-day moving average price is $79.45. Edison International has a 52-week low of $67.44 and a 52-week high of $82.82. The stock has a market cap of $25.93 billion, a price-to-earnings ratio of 18.82 and a beta of 0.22.
Edison International (NYSE:EIX) last released its earnings results on Thursday, July 27th. The utilities provider reported $0.85 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.85. Edison International had a net margin of 12.64% and a return on equity of 10.58%. The company had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter in the previous year, the company earned $0.85 EPS. Edison International’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, analysts forecast that Edison International will post $4.24 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be issued a $0.5425 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.17 dividend on an annualized basis and a dividend yield of 2.73%. Edison International’s dividend payout ratio (DPR) is presently 50.82%.
In other news, insider Ronald L. Litzinger sold 224,715 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $80.54, for a total value of $18,098,546.10. Following the sale, the insider now directly owns 14,121 shares in the company, valued at approximately $1,137,305.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.41% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Tudor Investment Corp ET AL increased its holdings in shares of Edison International by 79.9% in the 1st quarter. Tudor Investment Corp ET AL now owns 10,077 shares of the utilities provider’s stock worth $802,000 after buying an additional 4,477 shares during the last quarter. Prudential Financial Inc. grew its holdings in Edison International by 18.4% during the 2nd quarter. Prudential Financial Inc. now owns 552,076 shares of the utilities provider’s stock valued at $43,167,000 after purchasing an additional 85,968 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Edison International by 3.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 15,314,368 shares of the utilities provider’s stock valued at $1,197,430,000 after purchasing an additional 526,261 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Edison International by 1.9% during the 2nd quarter. Principal Financial Group Inc. now owns 655,277 shares of the utilities provider’s stock valued at $51,236,000 after purchasing an additional 12,086 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in Edison International by 2,416.6% during the 1st quarter. BlackRock Inc. now owns 24,389,198 shares of the utilities provider’s stock valued at $1,941,622,000 after purchasing an additional 23,420,049 shares during the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.
About Edison International
Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.
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