Mizuho restated their buy rating on shares of Edison International (NYSE:EIX) in a research report released on Monday morning. The brokerage currently has a $86.00 target price on the utilities provider’s stock.
A number of other research analysts have also recently issued reports on the company. SunTrust Banks, Inc. reissued a buy rating and issued a $89.00 target price on shares of Edison International in a research note on Monday, October 2nd. Royal Bank Of Canada reissued a buy rating and issued a $84.00 target price on shares of Edison International in a research note on Sunday, September 17th. Morgan Stanley boosted their target price on Edison International from $90.00 to $92.00 and gave the company an equal weight rating in a research note on Friday, September 8th. BidaskClub upgraded Edison International from a sell rating to a hold rating in a report on Tuesday, August 22nd. Finally, BMO Capital Markets restated a buy rating and issued a $85.00 price target on shares of Edison International in a report on Thursday, August 17th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $84.75.
Shares of Edison International (NYSE:EIX) opened at 78.42 on Monday. The stock has a market capitalization of $25.55 billion, a P/E ratio of 18.54 and a beta of 0.22. The company has a 50-day moving average price of $79.38 and a 200 day moving average price of $79.52. Edison International has a 52 week low of $67.44 and a 52 week high of $82.82.
Edison International (NYSE:EIX) last posted its earnings results on Thursday, July 27th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.85. Edison International had a return on equity of 10.58% and a net margin of 12.64%. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same period in the previous year, the firm earned $0.85 earnings per share. The company’s revenue was up 6.8% on a year-over-year basis. Analysts forecast that Edison International will post $4.23 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be issued a dividend of $0.5425 per share. The ex-dividend date is Thursday, September 28th. This represents a $2.17 annualized dividend and a yield of 2.77%. Edison International’s payout ratio is presently 50.82%.
In related news, insider Ronald L. Litzinger sold 224,715 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $80.54, for a total transaction of $18,098,546.10. Following the sale, the insider now owns 14,121 shares in the company, valued at $1,137,305.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.41% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in EIX. Waldron LP bought a new stake in Edison International during the first quarter worth about $211,000. Victory Capital Management Inc. raised its holdings in Edison International by 57.1% during the first quarter. Victory Capital Management Inc. now owns 62,051 shares of the utilities provider’s stock worth $4,939,000 after acquiring an additional 22,542 shares in the last quarter. BB&T Securities LLC raised its holdings in Edison International by 20.3% during the first quarter. BB&T Securities LLC now owns 4,124 shares of the utilities provider’s stock worth $328,000 after acquiring an additional 695 shares in the last quarter. Van ECK Associates Corp raised its holdings in Edison International by 18.0% during the first quarter. Van ECK Associates Corp now owns 2,817 shares of the utilities provider’s stock worth $224,000 after acquiring an additional 430 shares in the last quarter. Finally, Premier Fund Managers Ltd raised its holdings in Edison International by 3.1% during the first quarter. Premier Fund Managers Ltd now owns 33,750 shares of the utilities provider’s stock worth $2,685,000 after acquiring an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.
About Edison International
Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.
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