Edison International (NYSE:EIX) Given Average Recommendation of "Moderate Buy" by Brokerages

Shares of Edison International (NYSE:EIX - Get Free Report) have received a consensus rating of "Moderate Buy" from the fifteen research firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $76.82.

Several analysts have recently commented on EIX shares. Wolfe Research cut Edison International from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. Morgan Stanley cut their price objective on Edison International from $52.00 to $51.00 and set an "underweight" rating for the company in a research report on Wednesday, June 18th. Evercore ISI restated an "outperform" rating on shares of Edison International in a research report on Thursday, May 15th. Barclays upped their price target on shares of Edison International from $64.00 to $67.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a report on Monday, May 19th.

Edison International Price Performance

Shares of NYSE EIX opened at $51.07 on Friday. The stock has a fifty day moving average price of $53.38 and a 200 day moving average price of $56.70. Edison International has a 1-year low of $47.73 and a 1-year high of $88.77. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.96 and a quick ratio of 0.89. The company has a market cap of $19.65 billion, a PE ratio of 7.24, a P/E/G ratio of 1.19 and a beta of 0.75.

Edison International (NYSE:EIX - Get Free Report) last released its earnings results on Tuesday, April 29th. The utilities provider reported $1.37 EPS for the quarter, topping the consensus estimate of $1.21 by $0.16. Edison International had a net margin of 16.84% and a return on equity of 13.21%. The company had revenue of $3.81 billion during the quarter, compared to analysts' expectations of $4.29 billion. During the same quarter last year, the business earned $1.13 EPS. The business's revenue was down 6.5% on a year-over-year basis. Sell-side analysts forecast that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, July 7th will be paid a dividend of $0.8275 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.48%. Edison International's dividend payout ratio (DPR) is 46.95%.

Institutional Investors Weigh In On Edison International

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new stake in Edison International during the 4th quarter worth about $323,443,000. AQR Capital Management LLC boosted its stake in shares of Edison International by 190.5% during the 1st quarter. AQR Capital Management LLC now owns 5,428,038 shares of the utilities provider's stock worth $319,169,000 after purchasing an additional 3,559,602 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Edison International by 111.6% during the first quarter. JPMorgan Chase & Co. now owns 5,663,427 shares of the utilities provider's stock worth $333,689,000 after buying an additional 2,987,318 shares in the last quarter. ATLAS Infrastructure Partners UK Ltd. grew its holdings in shares of Edison International by 197.2% during the first quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,395,732 shares of the utilities provider's stock worth $258,997,000 after buying an additional 2,916,645 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of Edison International by 364.1% in the fourth quarter. Canada Pension Plan Investment Board now owns 3,369,535 shares of the utilities provider's stock valued at $269,024,000 after buying an additional 2,643,571 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company's stock.

Edison International Company Profile

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.

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