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

Edison International (NYSE:EIX) had its target price lifted by JPMorgan Chase & Co. from $65.00 to $66.00 in a research report sent to investors on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the utilities provider’s stock.

EIX has been the topic of several other research reports. Zacks Research downgraded Edison International from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Wall Street Zen raised Edison International from a “hold” rating to a “buy” rating in a research note on Thursday, January 15th. Barclays decreased their price objective on Edison International from $68.00 to $67.00 and set an “overweight” rating on the stock in a report on Thursday, January 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Edison International in a report on Monday, December 29th. Finally, TD Cowen assumed coverage on shares of Edison International in a research report on Thursday, October 16th. They issued a “buy” rating and a $71.00 target price for the company. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Edison International presently has a consensus rating of “Hold” and a consensus target price of $63.30.

Edison International Price Performance

Shares of NYSE EIX opened at $62.23 on Wednesday. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.76 and a current ratio of 0.82. The firm has a fifty day moving average of $59.81 and a 200 day moving average of $56.81. The firm has a market cap of $23.95 billion, a PE ratio of 8.13, a PEG ratio of 0.91 and a beta of 0.83. Edison International has a one year low of $47.73 and a one year high of $63.19.

Edison International (NYSE:EIX) last announced its earnings results on Tuesday, October 28th. The utilities provider reported $2.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.18. The business had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.31 billion. Edison International had a net margin of 17.24% and a return on equity of 13.62%. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.51 earnings per share. As a group, research analysts predict that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, January 31st. Shareholders of record on Wednesday, January 7th will be issued a $0.8775 dividend. This represents a $3.51 annualized dividend and a yield of 5.6%. The ex-dividend date is Wednesday, January 7th. This is a positive change from Edison International’s previous quarterly dividend of $0.83. Edison International’s dividend payout ratio (DPR) is presently 45.88%.

Institutional Trading of Edison International

Institutional investors have recently made changes to their positions in the company. Activest Wealth Management grew its position in Edison International by 677.8% in the third quarter. Activest Wealth Management now owns 560 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 488 shares during the period. CVA Family Office LLC raised its position in Edison International by 113.7% in the third quarter. CVA Family Office LLC now owns 577 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 307 shares during the period. Ransom Advisory Ltd lifted its stake in shares of Edison International by 74.9% in the 4th quarter. Ransom Advisory Ltd now owns 605 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 259 shares during the last quarter. Laurel Wealth Advisors LLC grew its holdings in shares of Edison International by 5,064.3% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 723 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 709 shares during the period. Finally, CoreFirst Bank & Trust acquired a new stake in shares of Edison International during the 2nd quarter worth about $38,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Company Profile

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.