Edison International (NYSE:EIX) Hits New 12-Month High - What's Next?

Key Points

• Edison International shares reached a new 52-week high of $81.60, trading well above their 50-day and 200-day moving averages. The stock has a market capitalization of approximately $30.92 billion.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $72.64, below the recent share price. Ratings range from Buy to Sell, reflecting differing views on the stock’s outlook.
• The company exceeded quarterly earnings expectations with EPS of $1.42 versus the $1.32 consensus estimate, while revenue rose 7.7% year over year. Edison International also declared a quarterly dividend of $0.8775, representing a 4.4% annualized yield.

Edison International (NYSE:EIX - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $81.60 and last traded at $81.5750, with a volume of 377230 shares changing hands. The stock had previously closed at $78.64.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Barclays raised their price objective on shares of Edison International from $77.00 to $78.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 14th. Seaport Research Partners cut Edison International from a "buy" rating to a "neutral" rating in a report on Monday, April 20th. Bank of America dropped their price target 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. Wells Fargo & Company reissued an "underweight" rating and issued a $62.00 price target on shares of Edison International in a report on Tuesday, April 21st. Finally, Morgan Stanley restated an "underweight" rating and issued a $69.00 price objective on shares of Edison International in a research report on Wednesday, July 22nd. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $72.64.

Edison International Price Performance

The company has a 50 day moving average of $73.76 and a 200 day moving average of $70.58. The stock has a market capitalization of $30.92 billion, a price-to-earnings ratio of 8.72, a price-to-earnings-growth ratio of 6.20 and a beta of 0.66. The company has a quick ratio of 0.68, a current ratio of 0.74 and a debt-to-equity ratio of 1.98.

Edison International (NYSE:EIX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.42 EPS for the quarter, beating the consensus estimate of $1.32 by $0.10. Edison International had a return on equity of 14.56% and a net margin of 19.27%.The company had revenue of $4.10 billion during the quarter, compared to analysts' expectations of $4.15 billion. During the same quarter in the previous year, the business earned $1.37 EPS. The firm's revenue was up 7.7% on a year-over-year basis. As a group, equities research analysts forecast that Edison International will post 6.13 EPS for the current fiscal year.

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, July 7th will be given a $0.8775 dividend. This represents a $3.51 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Tuesday, July 7th. Edison International's dividend payout ratio (DPR) is 38.11%.

Institutional Investors Weigh In On Edison International

Institutional investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its holdings in shares of Edison International by 112.9% in the 1st quarter. Jones Financial Companies Lllp now owns 9,785 shares of the utilities provider's stock worth $577,000 after purchasing an additional 5,190 shares during the period. Empowered Funds LLC increased its position in Edison International by 2.4% during the 1st quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider's stock worth $523,000 after purchasing an additional 211 shares in the last quarter. Woodline Partners LP raised its holdings in Edison International by 40.7% in the first quarter. Woodline Partners LP now owns 32,709 shares of the utilities provider's stock valued at $1,927,000 after buying an additional 9,459 shares during the period. Sivia Capital Partners LLC raised its holdings in Edison International by 153.6% in the second quarter. Sivia Capital Partners LLC now owns 8,734 shares of the utilities provider's stock valued at $451,000 after buying an additional 5,290 shares during the period. Finally, Baird Financial Group Inc. purchased a new position in Edison International in the second quarter valued at approximately $302,000. Hedge funds and other institutional investors own 88.95% of the company's stock.

Edison International Company Profile

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.

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