Edison International (NYSE:EIX) Price Target Lowered to $76.00 at Barclays

Edison International (NYSE:EIX) had its price objective decreased by Barclays from $84.00 to $76.00 in a research note issued to investors on Monday,Benzinga reports. Barclays currently has an overweight rating on the utilities provider’s stock.

Several other equities analysts also recently issued reports on the stock. Jefferies Financial Group initiated coverage on shares of Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 price target for the company. UBS Group reduced their target price on Edison International from $96.00 to $87.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. Morgan Stanley dropped their price target on Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Royal Bank of Canada boosted their price objective on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Finally, Wells Fargo & Company increased their target price on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, Edison International has an average rating of “Moderate Buy” and an average target price of $84.96.

Edison International Stock Up 4.9 %

EIX stock opened at $61.31 on Monday. The stock has a market capitalization of $23.74 billion, a price-to-earnings ratio of 17.98, a price-to-earnings-growth ratio of 1.34 and a beta of 0.93. The company has a 50-day moving average of $80.71 and a two-hundred day moving average of $81.62. Edison International has a 52-week low of $55.27 and a 52-week high of $88.77. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.13. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.38 earnings per share. As a group, equities research analysts anticipate that Edison International will post 4.94 EPS for the current year.

Edison International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th will be paid a $0.8275 dividend. This represents a $3.31 annualized dividend and a dividend yield of 5.40%. The ex-dividend date of this dividend is Tuesday, January 7th. This is a positive change from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio (DPR) is 97.07%.

Insider Buying and Selling

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Edison International

A number of institutional investors have recently made changes to their positions in EIX. Lake Street Advisors Group LLC boosted its holdings in Edison International by 4.3% during the third quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock worth $263,000 after buying an additional 124 shares during the last quarter. Baker Tilly Wealth Management LLC boosted its stake in Edison International by 2.8% during the 3rd quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock worth $416,000 after acquiring an additional 129 shares during the last quarter. SFE Investment Counsel boosted its stake in Edison International by 0.3% during the 3rd quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock worth $3,721,000 after acquiring an additional 130 shares during the last quarter. Assetmark Inc. grew its holdings in Edison International by 32.9% during the third quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock valued at $55,000 after purchasing an additional 157 shares during the period. Finally, Dynamic Advisor Solutions LLC increased its stake in Edison International by 2.1% in the third quarter. Dynamic Advisor Solutions LLC now owns 7,697 shares of the utilities provider’s stock valued at $670,000 after purchasing an additional 159 shares in the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

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.