The Goldman Sachs Group Begins Coverage on Edison International (NYSE:EIX)

The Goldman Sachs Group assumed coverage on shares of Edison International (NYSE:EIX) in a report published on Wednesday, Marketbeat.com reports. The firm issued a neutral rating and a $78.00 price objective on the utilities provider’s stock.

A number of other brokerages have also issued reports on EIX. TheStreet lowered Edison International from a b rating to a c+ rating in a research note on Thursday, February 22nd. Royal Bank of Canada cut their price objective on Edison International from $81.00 to $80.00 and set an outperform rating for the company in a research report on Thursday, March 7th. Mizuho cut their price objective on Edison International from $76.00 to $75.00 and set a buy rating for the company in a research report on Thursday, January 25th. StockNews.com upgraded Edison International from a sell rating to a hold rating in a research report on Saturday, February 24th. Finally, Barclays raised their price objective on Edison International from $69.00 to $70.00 and gave the company an equal weight rating in a research report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Hold and an average target price of $73.60.

Edison International Trading Down 2.8 %

Shares of EIX stock opened at $68.89 on Wednesday. Edison International has a 52-week low of $58.82 and a 52-week high of $74.92. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.73 and a current ratio of 0.79. The firm has a market capitalization of $26.50 billion, a PE ratio of 22.08 and a beta of 0.96. The stock has a fifty day simple moving average of $68.11 and a two-hundred day simple moving average of $67.22.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.12. Edison International had a return on equity of 12.63% and a net margin of 8.35%. The business had revenue of $3.71 billion during the quarter, compared to analyst estimates of $4.19 billion. During the same quarter in the prior year, the business posted $1.14 EPS. On average, analysts predict that Edison International will post 5.01 EPS for the current fiscal year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date of this dividend is Wednesday, March 27th. Edison International’s payout ratio is 100.00%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. RVW Wealth LLC bought a new position in shares of Edison International in the 3rd quarter valued at about $25,000. Able Wealth Management LLC bought a new position in shares of Edison International in the 4th quarter valued at about $25,000. Bruce G. Allen Investments LLC bought a new stake in Edison International in the fourth quarter worth about $27,000. WASHINGTON TRUST Co lifted its stake in Edison International by 117.4% in the fourth quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 270 shares during the last quarter. Finally, Northwest Financial Advisors bought a new stake in Edison International in the fourth quarter worth about $40,000. Institutional investors own 88.95% of the company’s stock.

About Edison International

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.