Edison International (NYSE:EIX) Receives $76.89 Average Price Target from Brokerages

Edison International (NYSE:EIX - Get Free Report) has been given an average rating of "Moderate Buy" by the fourteen brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $76.89.

Several research firms have recently commented on EIX. The Goldman Sachs Group decreased their price objective on Edison International from $88.00 to $68.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. UBS Group upgraded shares of Edison International from a "neutral" rating to a "buy" rating and lowered their price objective for the stock from $69.00 to $65.00 in a report on Tuesday, February 18th. JPMorgan Chase & Co. lowered their price target on shares of Edison International from $75.00 to $71.00 and set a "neutral" rating for the company in a research report on Monday, May 19th. Evercore ISI reissued an "outperform" rating on shares of Edison International in a research report on Thursday, May 15th. Finally, Mizuho cut their target price on shares of Edison International from $75.00 to $66.00 and set an "outperform" rating for the company in a research report on Monday, March 3rd.

Edison International Stock Up 0.8%

NYSE EIX traded up $0.46 during mid-day trading on Friday, hitting $57.10. The company's stock had a trading volume of 2,237,845 shares, compared to its average volume of 3,044,131. The company's 50 day simple moving average is $56.77 and its 200 day simple moving average is $64.04. Edison International has a twelve month low of $49.06 and a twelve month high of $88.77. The firm has a market capitalization of $21.97 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 1.07 and a beta of 0.77. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX - Get Free Report) last released its earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.21 by $0.16. The business had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $4.29 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business's revenue for the quarter was down 6.5% on a year-over-year basis. During the same period last year, the business posted $1.13 earnings per share. Analysts anticipate that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th were given a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a dividend yield of 5.80%. The ex-dividend date was Monday, April 7th. Edison International's dividend payout ratio (DPR) is presently 46.95%.

Institutional Trading of Edison International

Several institutional investors and hedge funds have recently bought and sold shares of EIX. Vanguard Group Inc. grew its position in Edison International by 1.0% during the first quarter. Vanguard Group Inc. now owns 49,083,555 shares of the utilities provider's stock worth $2,892,003,000 after buying an additional 493,778 shares during the period. Geode Capital Management LLC raised its stake in Edison International by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 9,983,519 shares of the utilities provider's stock worth $795,123,000 after purchasing an additional 362,999 shares during the period. Invesco Ltd. grew its position in Edison International by 19.8% during the first quarter. Invesco Ltd. now owns 5,770,535 shares of the utilities provider's stock valued at $340,000,000 after acquiring an additional 953,897 shares during the period. Northern Trust Corp increased its position in Edison International by 53.9% during the 4th quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider's stock worth $459,642,000 after purchasing an additional 2,016,017 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake 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 purchasing an additional 2,987,318 shares in the last quarter. Hedge funds and other institutional investors own 88.95% of the company's stock.

About Edison International

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.