Edison International (NYSE:EIX) Earns “Hold” Rating from Jefferies Group LLC
Edison International (NYSE:EIX)‘s stock had its “hold” rating reissued by stock analysts at Jefferies Group LLC in a report released on Friday.
EIX has been the subject of several other reports. Barclays PLC reaffirmed an “equal weight” rating and set a $84.00 price objective (up from $78.00) on shares of Edison International in a research report on Sunday, April 23rd. Wolfe Research cut Edison International from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 11th. Zacks Investment Research raised Edison International from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research report on Thursday, July 6th. BidaskClub cut Edison International from a “hold” rating to a “sell” rating in a research report on Tuesday, June 13th. Finally, Mizuho reaffirmed a “buy” rating and set a $91.50 price objective on shares of Edison International in a research report on Wednesday, April 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $82.86.
Edison International (NYSE:EIX) traded down 0.10% during midday trading on Friday, reaching $77.45. The company’s stock had a trading volume of 1,902,990 shares. The firm has a market capitalization of $25.23 billion, a PE ratio of 18.34 and a beta of 0.22. The stock’s 50-day moving average price is $80.18 and its 200 day moving average price is $77.33. Edison International has a 1-year low of $67.44 and a 1-year high of $82.82.
Edison International (NYSE:EIX) last released its quarterly earnings data on Monday, May 1st. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.21. The business had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Edison International had a return on equity of 10.78% and a net margin of 12.82%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.82 EPS. Equities analysts anticipate 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 given a $0.5425 dividend. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $2.17 dividend on an annualized basis and a dividend yield of 2.80%. Edison International’s dividend payout ratio (DPR) is presently 50.94%.
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In related news, Director W Brett White sold 2,500 shares of the company’s stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $81.67, for a total value of $204,175.00. Following the completion of the sale, the director now directly owns 2,500 shares of the company’s stock, valued at approximately $204,175. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Ronald L. Litzinger sold 26,035 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $78.85, for a total value of $2,052,859.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,035 shares of company stock valued at $2,460,285. Insiders own 0.41% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Guardian Life Insurance Co. of America increased its stake in 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 valued at $100,000 after buying an additional 8 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Edison International by 0.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,945 shares of the utilities provider’s stock valued at $234,000 after buying an additional 17 shares in the last quarter. CENTRAL TRUST Co increased its stake in Edison International by 0.7% in the second quarter. CENTRAL TRUST Co now owns 3,008 shares of the utilities provider’s stock valued at $235,000 after buying an additional 22 shares in the last quarter. Cleararc Capital Inc. increased its stake in Edison International by 0.5% in the first quarter. Cleararc Capital Inc. now owns 7,944 shares of the utilities provider’s stock valued at $632,000 after buying an additional 42 shares in the last quarter. Finally, Baystate Wealth Management LLC increased its stake in Edison International by 1.6% in the first quarter. Baystate Wealth Management LLC now owns 3,092 shares of the utilities provider’s stock valued at $250,000 after buying an additional 50 shares in the last quarter. 81.71% of the stock is 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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