Edison International (NYSE:EIX) Trading 5.5% Higher Following Dividend Announcement

Edison International (NYSE:EIX - Get Free Report) shares traded up 5.5% during trading on Friday after the company announced a dividend. The stock traded as high as $53.87 and last traded at $54.14. 534,074 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 6,186,142 shares. The stock had previously closed at $51.34.

The newly announced dividend which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be issued a dividend of $0.8275 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.31 annualized dividend and a dividend yield of 6.03%. Edison International's payout ratio is 100.30%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on EIX shares. Guggenheim lowered Edison International from a "buy" rating to a "neutral" rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. restated a "neutral" rating and set a $72.00 price target on shares of Edison International in a report on Wednesday, February 12th. The Goldman Sachs Group dropped their price target on shares of Edison International from $88.00 to $68.00 and set a "neutral" rating on the stock in a research note on Tuesday. Mizuho cut their price objective on shares of Edison International from $75.00 to $66.00 and set an "outperform" rating on the stock in a research report on Monday. Finally, Morgan Stanley decreased their target price on shares of Edison International from $71.00 to $48.00 and set an "underweight" rating for the company in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, Edison International currently has an average rating of "Moderate Buy" and an average price target of $76.54.

Edison International Price Performance

The stock has a market capitalization of $21.25 billion, a PE ratio of 16.09, a PEG ratio of 1.07 and a beta of 0.90. The firm's fifty day moving average price is $60.89 and its two-hundred day moving average price is $76.21. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX - Get Free Report) last announced its earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing analysts' consensus estimates of $1.08 by ($0.03). The company had revenue of $17.60 billion for the quarter, compared to analysts' expectations of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. On average, equities analysts predict that Edison International will post 4.95 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of EIX. Swedbank AB lifted its stake in shares of Edison International by 3.3% in the 4th quarter. Swedbank AB now owns 523,433 shares of the utilities provider's stock worth $41,791,000 after purchasing an additional 16,614 shares during the period. Hennion & Walsh Asset Management Inc. purchased a new stake in Edison International during the fourth quarter valued at approximately $235,000. KBC Group NV raised its position in Edison International by 23.7% in the fourth quarter. KBC Group NV now owns 61,342 shares of the utilities provider's stock worth $4,898,000 after acquiring an additional 11,764 shares during the period. abrdn plc boosted its stake in shares of Edison International by 19.5% during the 4th quarter. abrdn plc now owns 1,695,182 shares of the utilities provider's stock worth $134,335,000 after acquiring an additional 276,656 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Edison International during the 3rd quarter worth $1,387,000. 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.