Brokerages Set Edison International (NYSE:EIX) Target Price at $76.19

Key Points

• Edison International (NYSE:EIX) has received a consensus recommendation of "Moderate Buy" from analysts, with one sell, five hold, and nine buy ratings among the fifteen analysts covering the stock.
• The average 1-year price target for Edison International's stock is $76.19, reflecting analysts' varied outlooks on its performance.
• The company recently announced a quarterly dividend of $0.8275 per share, translating to an annualized yield of 6.0%.

Shares of Edison International (NYSE:EIX - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the fifteen brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $76.1923.

Several research firms recently weighed in on EIX. Barclays upped their price objective on shares of Edison International from $64.00 to $65.00 and gave the stock an "overweight" rating in a research report on Monday. Wolfe Research lowered shares of Edison International from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. Morgan Stanley decreased their price objective on shares of Edison International from $52.00 to $51.00 and set an "underweight" rating on the stock in a research note on Wednesday, June 18th. JPMorgan Chase & Co. cut their target price on Edison International from $75.00 to $71.00 and set a "neutral" rating for the company in a research note on Monday, May 19th. Finally, Evercore ISI reaffirmed an "outperform" rating on shares of Edison International in a report on Thursday, May 15th.

Edison International Price Performance

Shares of EIX stock traded down $1.19 during trading on Thursday, hitting $53.75. The company had a trading volume of 4,797,568 shares, compared to its average volume of 4,518,315. The firm has a market capitalization of $20.68 billion, a P/E ratio of 7.89, a price-to-earnings-growth ratio of 1.29 and a beta of 0.75. Edison International has a one year low of $47.73 and a one year high of $88.77. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.81 and a current ratio of 0.87. The stock's 50-day moving average price is $51.83 and its 200 day moving average price is $54.34.

Edison International (NYSE:EIX - Get Free Report) last released its earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.88 by $0.09. The firm had revenue of $4.54 billion during the quarter, compared to the consensus estimate of $4.52 billion. Edison International had a return on equity of 11.99% and a net margin of 16.00%. The company's revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.23 EPS. Equities analysts expect that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, July 7th were given a $0.8275 dividend. The ex-dividend date was Monday, July 7th. This represents a $3.31 annualized dividend and a yield of 6.2%. Edison International's dividend payout ratio (DPR) is currently 48.60%.

Institutional Trading of Edison International

Hedge funds have recently made changes to their positions in the company. Rockefeller Capital Management L.P. increased its holdings in Edison International by 11.4% in the second quarter. Rockefeller Capital Management L.P. now owns 29,189 shares of the utilities provider's stock valued at $1,506,000 after purchasing an additional 2,997 shares during the period. Alberta Investment Management Corp grew its position in shares of Edison International by 631.8% in the 2nd quarter. Alberta Investment Management Corp now owns 78,300 shares of the utilities provider's stock valued at $4,040,000 after buying an additional 67,600 shares during the last quarter. Kingsview Wealth Management LLC increased its stake in shares of Edison International by 9.8% in the second quarter. Kingsview Wealth Management LLC now owns 4,138 shares of the utilities provider's stock valued at $214,000 after buying an additional 369 shares during the period. Cetera Investment Advisers increased its stake in shares of Edison International by 9.9% in the second quarter. Cetera Investment Advisers now owns 96,244 shares of the utilities provider's stock valued at $4,966,000 after buying an additional 8,697 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Edison International by 1.0% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 734,632 shares of the utilities provider's stock worth $37,907,000 after acquiring an additional 7,069 shares during the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

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.