Morgan Stanley Reiterates Equal Weight Rating for Edison International (EIX)
Edison International (NYSE:EIX)‘s stock had its “equal weight” rating restated by equities research analysts at Morgan Stanley in a note issued to investors on Tuesday.
Several other analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Edison International from a “buy” rating to a “hold” rating in a research report on Friday, July 7th. BidaskClub downgraded shares of Edison International from a “hold” rating to a “sell” rating in a research report on Sunday, June 25th. Wolfe Research downgraded shares of Edison International from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 11th. BMO Capital Markets reissued an “outperform” rating and set a $85.00 target price (up previously from $82.00) on shares of Edison International in a research report on Wednesday, May 3rd. Finally, Jefferies Group LLC reissued a “hold” rating and set a $83.00 target price (up previously from $80.00) on shares of Edison International in a research report on Tuesday, May 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $82.86.
Edison International (NYSE EIX) opened at 76.55 on Tuesday. The company has a market cap of $24.94 billion, a P/E ratio of 18.13 and a beta of 0.23. The company’s 50-day moving average is $80.18 and its 200-day moving average is $77.33. Edison International has a 12 month low of $67.44 and a 12 month high of $82.82. Edison International also saw unusually large options trading activity on Monday. Stock traders acquired 4,227 call options on the stock. This is an increase of approximately 1,532% compared to the average volume of 259 call options.
Edison International (NYSE:EIX) last released its earnings results on Monday, May 1st. The utilities provider reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.21. The company had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.71 billion. Edison International had a net margin of 12.82% and a return on equity of 10.78%. Edison International’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.82 EPS. On average, equities research analysts expect that Edison International will post $4.21 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Friday, June 30th will be paid a $0.5425 dividend. This represents a $2.17 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Wednesday, June 28th. Edison International’s dividend payout ratio is currently 50.94%.
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In related news, Director W Brett White sold 2,500 shares of the business’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $81.67, for a total value of $204,175.00. Following the completion of the transaction, the director now directly owns 2,500 shares in the company, valued at approximately $204,175. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ronald L. Litzinger sold 26,035 shares of the business’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $78.85, for a total transaction of $2,052,859.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,035 shares of company stock valued at $2,460,285. Company insiders own 0.41% of the company’s stock.
Several institutional investors have recently bought and sold shares of EIX. Dimensional Fund Advisors LP boosted its position in Edison International by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 573,347 shares of the utilities provider’s stock valued at $41,277,000 after buying an additional 12,022 shares in the last quarter. Tudor Investment Corp Et Al purchased a new position in Edison International during the fourth quarter valued at about $403,000. Vident Investment Advisory LLC boosted its position in Edison International by 2.2% in the fourth quarter. Vident Investment Advisory LLC now owns 30,522 shares of the utilities provider’s stock valued at $2,197,000 after buying an additional 671 shares in the last quarter. Brookfield Asset Management Inc. boosted its position in Edison International by 17.2% in the fourth quarter. Brookfield Asset Management Inc. now owns 873,097 shares of the utilities provider’s stock valued at $62,854,000 after buying an additional 128,100 shares in the last quarter. Finally, Kentucky Retirement Systems purchased a new position in Edison International during the fourth quarter valued at about $1,702,000. Hedge funds and other institutional investors own 81.71% 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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