Edison International (NYSE:EIX) Coverage Initiated at The Goldman Sachs Group

The Goldman Sachs Group initiated coverage on shares of Edison International (NYSE:EIX - Free Report) in a report issued on Wednesday, Marketbeat reports. The brokerage issued a neutral rating and a $78.00 target price on the utilities provider's stock.

Other equities research analysts have also recently issued reports about the stock. Barclays upped their target price on shares of Edison International from $69.00 to $70.00 and gave the company an equal weight rating in a report on Monday, February 26th. TheStreet lowered shares of Edison International from a b rating to a c+ rating in a research note on Thursday, February 22nd. Guggenheim upgraded shares of Edison International from a neutral rating to a buy rating and boosted their price target for the stock from $66.00 to $84.00 in a research note on Monday, January 22nd. Royal Bank of Canada dropped their price target on shares of Edison International from $81.00 to $80.00 and set an outperform rating on the stock in a research note on Thursday, March 7th. Finally, Mizuho dropped their price target on shares of Edison International from $76.00 to $75.00 and set a buy rating on the stock in a research note on Thursday, January 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $73.91.

Edison International Stock Performance

EIX traded down $2.00 on Wednesday, reaching $68.89. The company had a trading volume of 1,642,244 shares, compared to its average volume of 2,253,292. The stock has a 50-day moving average price of $68.09 and a 200-day moving average price of $67.20. Edison International has a 1 year low of $58.82 and a 1 year high of $74.92. The company has a quick ratio of 0.73, a current ratio of 0.79 and a debt-to-equity ratio of 1.86. The stock has a market capitalization of $26.50 billion, a PE ratio of 22.75 and a beta of 0.96.

Edison International (NYSE:EIX - Get Free Report) last announced its earnings results on Thursday, February 22nd. The utilities provider reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.16 by $0.12. Edison International had a net margin of 8.35% and a return on equity of 12.63%. The business had revenue of $3.71 billion during the quarter, compared to analysts' expectations of $4.19 billion. During the same period in the prior year, the company earned $1.14 earnings per share. As a group, research analysts forecast that Edison International will post 5.01 EPS for the current fiscal year.

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be given a dividend of $0.78 per share. The ex-dividend date is Wednesday, March 27th. This represents a $3.12 annualized dividend and a yield of 4.53%. Edison International's payout ratio is currently 100.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in EIX. RVW Wealth LLC purchased a new stake in shares of Edison International in the third quarter valued at about $25,000. Able Wealth Management LLC purchased a new stake in shares of Edison International in the fourth quarter valued at about $25,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Edison International in the fourth quarter valued at about $27,000. WASHINGTON TRUST Co lifted 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 valued at $36,000 after purchasing an additional 270 shares in the last quarter. Finally, Northwest Financial Advisors purchased a new stake in shares of Edison International in the fourth quarter valued at about $40,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

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.