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

Edison International (NYSE:EIX - Get Free Report) announced a quarterly dividend on Wednesday, June 25th, RTT News reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 6.55%.

Edison International has a dividend payout ratio of 54.0% meaning its dividend is sufficiently covered by earnings. Equities 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 Down 1.7%

Shares of EIX stock traded down $0.89 on Wednesday, hitting $50.50. 2,551,895 shares of the company's stock traded hands, compared to its average volume of 3,242,618. The stock has a market capitalization of $19.43 billion, a price-to-earnings ratio of 7.16, a P/E/G ratio of 1.17 and a beta of 0.78. The company's fifty day simple moving average is $54.79 and its 200 day simple moving average is $59.34. 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 2.06, a quick ratio of 0.89 and a current ratio of 0.96.

Edison International (NYSE:EIX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.16. The business had revenue of $3.81 billion during the quarter, compared to analyst estimates of $4.29 billion. Edison International had a net margin of 16.84% and a return on equity of 13.21%. The company's revenue was down 6.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.13 earnings per share. Equities analysts forecast that Edison International will post 4.95 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. The Goldman Sachs Group decreased their price target on Edison International from $88.00 to $68.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. JPMorgan Chase & Co. dropped 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. Morgan Stanley cut their price target on shares of Edison International from $52.00 to $51.00 and set an "underweight" rating on the stock in a report on Wednesday, June 18th. Wells Fargo & Company lowered their price objective on shares of Edison International from $94.00 to $75.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Finally, Evercore ISI reiterated an "outperform" rating on shares of Edison International in a report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $76.82.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in EIX. Woodline Partners LP lifted its stake in shares of Edison International by 40.7% in the 1st quarter. Woodline Partners LP now owns 32,709 shares of the utilities provider's stock valued at $1,927,000 after purchasing an additional 9,459 shares during the period. Jones Financial Companies Lllp increased its stake 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 acquiring an additional 5,190 shares in the last quarter. Finally, Empowered Funds LLC lifted 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 valued at $523,000 after acquiring an additional 211 shares during the period. 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.

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