Mizuho Cuts Edison International (NYSE:EIX) Price Target to $66.00

Edison International (NYSE:EIX) had its price target lowered by Mizuho from $75.00 to $66.00 in a research report sent to investors on Monday,Benzinga reports. Mizuho currently has an outperform rating on the utilities provider’s stock.

EIX has been the topic of a number of other research reports. LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price on the stock in a research report on Wednesday, January 15th. Barclays cut their target price on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $72.00 target price on shares of Edison International in a research note on Wednesday, February 12th. Jefferies Financial Group initiated coverage on shares of Edison International in a research note on Thursday, November 7th. They set a “buy” rating and a $93.00 price target on the stock. Finally, Guggenheim downgraded shares of Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $76.54.

Edison International Trading Up 0.7 %

Shares of Edison International stock opened at $55.22 on Monday. Edison International has a 12-month low of $49.06 and a 12-month high of $88.77. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The stock has a market cap of $21.38 billion, a PE ratio of 16.19, a price-to-earnings-growth ratio of 1.07 and a beta of 0.90. The company has a 50-day moving average of $59.88 and a two-hundred day moving average of $75.87.

Edison International (NYSE:EIX) last released its quarterly earnings results on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.03). The business had revenue of $17.60 billion during the quarter, compared to analyst estimates of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. On average, research analysts anticipate that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be given a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.99%. The ex-dividend date is Monday, April 7th. Edison International’s dividend payout ratio is presently 100.30%.

Institutional Investors Weigh In On Edison International

A number of institutional investors have recently modified their holdings of the business. Pinnacle Associates Ltd. bought a new position in Edison International in the 3rd quarter worth about $308,000. US Bancorp DE grew its position in Edison International by 1.2% in the 3rd quarter. US Bancorp DE now owns 61,744 shares of the utilities provider’s stock worth $5,377,000 after purchasing an additional 743 shares during the last quarter. Farther Finance Advisors LLC grew its position in Edison International by 26.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,433 shares of the utilities provider’s stock worth $125,000 after purchasing an additional 299 shares during the last quarter. Conning Inc. bought a new position in Edison International in the 3rd quarter worth about $235,000. Finally, Robeco Institutional Asset Management B.V. grew its position in Edison International by 117.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 781,736 shares of the utilities provider’s stock worth $68,081,000 after purchasing an additional 422,752 shares during the last quarter. Institutional investors 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.