Edison International (NYSE:EIX) Hits New 52-Week High at $75.91

Edison International (NYSE:EIX - Get Free Report)'s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $75.91 and last traded at $75.83, with a volume of 101042 shares changing hands. The stock had previously closed at $74.92.

Analyst Upgrades and Downgrades

Several analysts have issued reports on EIX shares. Wells Fargo & Company raised Edison International from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $72.00 to $86.00 in a research note on Tuesday. Mizuho reduced their price objective on Edison International from $76.00 to $75.00 and set a "buy" rating on the stock in a research note on Thursday, January 25th. The Goldman Sachs Group started coverage on Edison International in a research note on Wednesday, April 10th. They issued a "neutral" rating and a $78.00 target price for the company. Barclays raised their price target on Edison International from $72.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 2nd. Finally, StockNews.com upgraded Edison International from a "sell" rating to a "hold" rating in a research report on Saturday, February 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $74.10.

Edison International Trading Up 1.1 %

The stock's fifty day moving average price is $70.39 and its 200 day moving average price is $68.51. The stock has a market cap of $29.13 billion, a P/E ratio of 33.07 and a beta of 0.95. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 2.04.

Edison International (NYSE:EIX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.12 by $0.01. The business had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.16 billion. Edison International had a net margin of 6.14% and a return on equity of 12.48%. Edison International's quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.09 earnings per share. Equities research analysts expect that Edison International will post 4.92 earnings per share for the current year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were paid a $0.78 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.12 annualized dividend and a dividend yield of 4.12%. Edison International's payout ratio is currently 136.84%.

Insider Buying and Selling at Edison International

In other news, CEO J Andrew Murphy sold 9,794 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $75.07, for a total value of $735,235.58. Following the sale, the chief executive officer now directly owns 19,660 shares of the company's stock, valued at $1,475,876.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Edison International

Institutional investors have recently made changes to their positions in the company. Able Wealth Management LLC bought a new stake in shares of Edison International in the fourth quarter worth approximately $25,000. Bruce G. Allen Investments LLC purchased a new stake in Edison International during the 4th quarter valued at $27,000. Global Trust Asset Management LLC purchased a new position in shares of Edison International in the 1st quarter worth $28,000. WASHINGTON TRUST Co grew its holdings in shares of Edison International by 117.4% in the fourth quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider's stock worth $36,000 after acquiring an additional 270 shares during the period. Finally, Northwest Financial Advisors purchased a new stake in Edison International during the fourth quarter valued at $40,000. Hedge funds and other institutional investors own 88.95% of the company's stock.

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.