Edison International (NYSE:EIX) Declares Quarterly Dividend of $0.83

Edison International (NYSE:EIX - Get Free Report) declared a quarterly dividend on Wednesday, June 25th, RTT News reports. Shareholders of record on Monday, July 7th will be paid a dividend of 0.8275 per share by the utilities provider on Thursday, July 31st. This represents a $3.31 annualized dividend and a yield of 6.50%. The ex-dividend date is Monday, July 7th.

Edison International has a dividend payout ratio of 54.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Edison International to earn $5.76 per share next year, which means the company should continue to be able to cover its $3.31 annual dividend with an expected future payout ratio of 57.5%.

Edison International Trading Up 0.3%

EIX stock traded up $0.13 during mid-day trading on Friday, hitting $50.94. 5,877,178 shares of the company were exchanged, compared to its average volume of 3,276,913. The company has a quick ratio of 0.89, a current ratio of 0.96 and a debt-to-equity ratio of 2.06. The firm has a market capitalization of $19.60 billion, a P/E ratio of 7.23, a PEG ratio of 1.19 and a beta of 0.78. The business has a fifty day simple moving average of $54.41 and a 200-day simple moving average of $58.83. Edison International has a 12-month low of $47.73 and a 12-month high of $88.77.

Edison International (NYSE:EIX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.37 EPS for the quarter, beating 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 business had revenue of $3.81 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same quarter last year, the firm posted $1.13 earnings per share. The business's revenue for the quarter was down 6.5% compared to the same quarter last year. On average, equities research analysts predict that Edison International will post 4.95 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Morgan Stanley lowered their price objective on shares of Edison International from $52.00 to $51.00 and set an "underweight" rating for the company in a research note on Wednesday, June 18th. JPMorgan Chase & Co. reduced their target price 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. Wolfe Research cut shares of Edison International from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. Barclays raised their target price on shares of Edison International from $64.00 to $67.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Finally, Mizuho reduced their target price on shares of Edison International from $75.00 to $66.00 and set an "outperform" rating on the stock in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $76.82.

Institutional Investors Weigh In On Edison International

Several institutional investors have recently made changes to their positions in EIX. Woodline Partners LP boosted its position in shares of Edison International by 40.7% during the 1st quarter. Woodline Partners LP now owns 32,709 shares of the utilities provider's stock worth $1,927,000 after purchasing an additional 9,459 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of Edison International by 112.9% during 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 in the last quarter. Finally, Empowered Funds LLC boosted its position in shares of 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. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

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.