Analysts Set Edison International (NYSE:EIX) Target Price at $86.67

by · The Cerbat Gem

Edison International (NYSE:EIX – Get Free Report) has earned an average recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $86.50.

A number of research analysts recently commented on EIX shares. Barclays reduced their price target on Edison International from $91.00 to $89.00 and set an “equal weight” rating for the company in a report on Tuesday. Royal Bank of Canada increased their target price on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Morgan Stanley lifted their price target on shares of Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th. Guggenheim increased their price objective on shares of Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Bank of America started coverage on shares of Edison International in a report on Thursday, September 12th. They set a “buy” rating and a $95.00 price objective for the company.

Check Out Our Latest Research Report on Edison International

Insider Buying and Selling

In other Edison International news, CEO J Andrew Murphy sold 28,995 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $78.43, for a total value of $2,274,077.85. Following the sale, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at $1,541,933.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO J Andrew Murphy sold 28,995 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $78.43, for a total transaction of $2,274,077.85. Following the completion of the transaction, the chief executive officer now owns 19,660 shares in the company, valued at approximately $1,541,933.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Natalie K. Schilling sold 2,341 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total transaction of $187,280.00. Following the completion of the sale, the vice president now directly owns 6,338 shares in the company, valued at approximately $507,040. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,099 shares of company stock valued at $7,223,342. Insiders own 1.03% of the company’s stock.

Hedge Funds Weigh In On Edison International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EIX. Quarry LP grew its stake in shares of Edison International by 61.0% in the fourth quarter. Quarry LP now owns 4,103 shares of the utilities provider’s stock worth $293,000 after purchasing an additional 1,555 shares in the last quarter. Able Wealth Management LLC acquired a new position in Edison International during the 4th quarter valued at about $25,000. V Square Quantitative Management LLC raised its position in shares of Edison International by 27.1% during the 4th quarter. V Square Quantitative Management LLC now owns 7,943 shares of the utilities provider’s stock worth $568,000 after buying an additional 1,696 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Edison International by 4.4% in the 4th quarter. Wellington Management Group LLP now owns 10,276,016 shares of the utilities provider’s stock worth $734,632,000 after acquiring an additional 433,845 shares during the period. Finally, HighPoint Advisor Group LLC bought a new position in shares of Edison International in the fourth quarter valued at approximately $597,000. 88.95% of the stock is owned by institutional investors.

Edison International Stock Up 0.6 %

Shares of NYSE:EIX opened at $85.07 on Friday. The company has a 50 day moving average of $85.09 and a two-hundred day moving average of $77.52. Edison International has a 52-week low of $61.64 and a 52-week high of $88.77. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 2.04. The company has a market capitalization of $32.85 billion, a price-to-earnings ratio of 34.16, a price-to-earnings-growth ratio of 1.92 and a beta of 0.91.

Edison International (NYSE:EIX – Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.18. The firm had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.12 billion. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.01 EPS. As a group, analysts forecast that Edison International will post 4.97 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, October 7th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Monday, October 7th. Edison International’s payout ratio is 125.30%.

Edison International Company Profile

(Get Free Report

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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