Barclays Boosts Edison International (NYSE:EIX) Price Target to $75.00

Edison International (NYSE:EIX - Free Report) had its price target raised by Barclays from $72.00 to $75.00 in a report issued on Thursday, Benzinga reports. The firm currently has an equal weight rating on the utilities provider's stock.

Other equities research analysts have also recently issued reports about the company. Guggenheim upgraded Edison International from a neutral rating to a buy rating and raised their target price for the company from $66.00 to $84.00 in a research note on Monday, January 22nd. Royal Bank of Canada decreased their target price on Edison International from $81.00 to $80.00 and set an outperform rating on the stock in a report on Thursday, March 7th. Mizuho dropped their price target on Edison International from $76.00 to $75.00 and set a buy rating on the stock in a research report 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 price target for the company. Finally, TheStreet lowered Edison International from a b rating to a c+ rating in a report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $74.10.

Edison International Stock Performance

EIX stock traded up $0.69 during midday trading on Thursday, hitting $71.97. 2,005,819 shares of the stock traded hands, compared to its average volume of 2,202,112. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.79 and a quick ratio of 0.73. The stock's fifty day simple moving average is $69.24 and its 200-day simple moving average is $67.86. Edison International has a 1-year low of $58.82 and a 1-year high of $74.41. The firm has a market cap of $27.69 billion, a P/E ratio of 31.52 and a beta of 0.94.

Edison International (NYSE:EIX - Get Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.01. The company had revenue of $4.08 billion for the quarter, compared to analysts' expectations of $4.16 billion. Edison International had a net margin of 6.14% and a return on equity of 12.49%. Edison International's revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.09 EPS. On average, analysts expect that Edison International will post 4.92 earnings per share for the current year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.12 annualized dividend and a yield of 4.34%. Edison International's dividend payout ratio (DPR) is 136.84%.

Institutional Investors Weigh In On Edison International

Large investors have recently made changes to their positions in the stock. Ausbil Investment Management Ltd boosted its holdings in Edison International by 54.7% during the fourth quarter. Ausbil Investment Management Ltd now owns 135,099 shares of the utilities provider's stock worth $9,658,000 after purchasing an additional 47,784 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Edison International during the 4th quarter valued at about $11,734,000. California Public Employees Retirement System boosted its holdings in shares of Edison International by 62.1% during the 4th quarter. California Public Employees Retirement System now owns 1,514,003 shares of the utilities provider's stock valued at $108,236,000 after acquiring an additional 580,117 shares during the last quarter. Metis Global Partners LLC raised its stake in Edison International by 1.5% during the 3rd quarter. Metis Global Partners LLC now owns 56,588 shares of the utilities provider's stock worth $3,581,000 after acquiring an additional 834 shares during the period. Finally, Mackenzie Financial Corp grew its holdings in shares of Edison International by 1.3% in the fourth quarter. Mackenzie Financial Corp now owns 422,747 shares of the utilities provider's stock valued at $30,222,000 after purchasing an additional 5,220 shares in the last quarter. Institutional investors and hedge funds 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.