Royal Bank Of Canada reaffirmed their buy rating on shares of Edison International (NYSE:EIX) in a report issued on Sunday morning. Royal Bank Of Canada currently has a $84.00 price objective on the utilities provider’s stock.
A number of other research analysts have also commented on EIX. Jefferies Group LLC upgraded Edison International from a hold rating to a buy rating and upped their price target for the stock from $85.00 to $90.00 in a report on Friday, August 11th. Morgan Stanley upped their price target on Edison International from $86.00 to $90.00 and gave the stock an equal weight rating in a report on Thursday, August 10th. BMO Capital Markets reiterated a buy rating and set a $85.00 price target on shares of Edison International in a report on Thursday, August 17th. Mizuho reiterated a buy rating and set a $87.00 price target (up from $84.00) on shares of Edison International in a report on Wednesday, August 23rd. Finally, Citigroup Inc. reiterated a neutral rating and set a $84.00 price target (down from $85.00) on shares of Edison International in a report on Monday, July 24th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Edison International currently has an average rating of Hold and an average price target of $84.15.
Shares of Edison International (NYSE:EIX) opened at 79.09 on Friday. The stock’s 50 day moving average is $80.05 and its 200-day moving average is $79.66. The firm has a market cap of $25.77 billion, a P/E ratio of 18.70 and a beta of 0.24. Edison International has a 52-week low of $67.44 and a 52-week high of $82.82.
Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.85 EPS for the quarter, hitting analysts’ consensus estimates of $0.85. Edison International had a return on equity of 10.58% and a net margin of 12.64%. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same period in the previous year, the company earned $0.85 earnings per share. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. Equities analysts anticipate that Edison International will post $4.23 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be issued a dividend of $0.5425 per share. The ex-dividend date is Thursday, September 28th. This represents a $2.17 dividend on an annualized basis and a dividend yield of 2.74%. Edison International’s payout ratio is presently 50.82%.
In related news, insider Ronald L. Litzinger sold 224,715 shares of the stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $80.54, for a total transaction of $18,098,546.10. Following the completion of the transaction, the insider now directly owns 14,121 shares in the company, valued at $1,137,305.34. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.41% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. Guardian Life Insurance Co. of America grew its stake in Edison International by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 1,256 shares of the utilities provider’s stock valued at $100,000 after purchasing an additional 8 shares in the last quarter. Wetherby Asset Management Inc. grew its stake in Edison International by 0.3% in the second quarter. Wetherby Asset Management Inc. now owns 3,824 shares of the utilities provider’s stock valued at $299,000 after purchasing an additional 12 shares in the last quarter. CENTRAL TRUST Co grew its stake in Edison International by 0.7% in the second quarter. CENTRAL TRUST Co now owns 3,008 shares of the utilities provider’s stock valued at $235,000 after purchasing an additional 22 shares in the last quarter. Cleararc Capital Inc. grew its stake in Edison International by 0.5% in the first quarter. Cleararc Capital Inc. now owns 7,944 shares of the utilities provider’s stock valued at $632,000 after purchasing an additional 42 shares in the last quarter. Finally, HL Financial Services LLC grew its stake in Edison International by 2.7% in the second quarter. HL Financial Services LLC now owns 2,681 shares of the utilities provider’s stock valued at $210,000 after purchasing an additional 70 shares in the last quarter. Institutional investors and hedge funds 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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