Edison International (EIX) Upgraded at BidaskClub
Edison International (NYSE:EIX) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Monday.
EIX has been the subject of a number of other research reports. Barclays PLC restated an “equal weight” rating and set a $84.00 price objective (up previously from $78.00) on shares of Edison International in a report on Sunday, April 23rd. Royal Bank Of Canada restated a “buy” rating and set a $84.00 price objective on shares of Edison International in a report on Friday, February 24th. Wolfe Research cut shares of Edison International from an “outperform” rating to a “market perform” rating in a report on Thursday, May 11th. Mizuho restated a “buy” rating and set a $91.50 price objective on shares of Edison International in a report on Wednesday, April 19th. Finally, Deutsche Bank AG boosted their price objective on shares of Edison International from $79.00 to $81.00 and gave the company a “hold” rating in a report on Tuesday, April 11th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $82.41.
Edison International (EIX) traded down 0.61% on Monday, hitting $81.68. 613,243 shares of the stock traded hands. Edison International has a 12-month low of $67.44 and a 12-month high of $82.82. The stock has a market cap of $26.61 billion, a P/E ratio of 19.35 and a beta of 0.23. The stock has a 50-day moving average price of $79.98 and a 200 day moving average price of $76.63.
Edison International (NYSE:EIX) last issued its quarterly earnings data on Monday, May 1st. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.21. The firm had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Edison International had a net margin of 12.82% and a return on equity of 10.78%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.82 earnings per share. On average, equities analysts expect that Edison International will post $4.21 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Friday, June 30th will be paid a $0.5425 dividend. This represents a $2.17 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend is Wednesday, June 28th. Edison International’s payout ratio is currently 50.94%.
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In other Edison International news, insider Ronald L. Litzinger sold 26,035 shares of Edison International stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $78.85, for a total value of $2,052,859.75. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gaddi H. Vasquez sold 3,657 shares of Edison International stock in a transaction that occurred on Friday, March 31st. The shares were sold at an average price of $80.00, for a total transaction of $292,560.00. Following the completion of the transaction, the insider now directly owns 7,466 shares in the company, valued at approximately $597,280. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,692 shares of company stock worth $2,752,845. Insiders own 0.41% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in EIX. Guardian Life Insurance Co. of America raised its position in shares of Edison International by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 1,256 shares of the utilities provider’s stock worth $100,000 after buying an additional 8 shares during the last quarter. Parallel Advisors LLC bought a new position in shares of Edison International during the fourth quarter worth $128,000. Jones Collombin Investment Counsel Inc raised its position in shares of Edison International by 69.4% in the first quarter. Jones Collombin Investment Counsel Inc now owns 1,745 shares of the utilities provider’s stock worth $139,000 after buying an additional 715 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Edison International by 24.6% in the fourth quarter. Van ECK Associates Corp now owns 2,387 shares of the utilities provider’s stock worth $172,000 after buying an additional 472 shares during the last quarter. Finally, Wayne Hummer Investments L.L.C. bought a new position in shares of Edison International during the first quarter worth $200,000. 82.45% of the stock is currently owned by hedge funds and other institutional investors.
Edison International Company Profile
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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