Edison International (NYSE:EIX) Given Average Recommendation of “Hold” by Brokerages

Shares of Edison International (NYSE:EIX) have received a consensus rating of “Hold” from the fourteen research firms that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $63.30.

A number of brokerages recently weighed in on EIX. TD Cowen assumed coverage on shares of Edison International in a research note on Thursday, October 16th. They set a “buy” rating and a $71.00 price objective on the stock. Zacks Research downgraded shares of Edison International from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. UBS Group reaffirmed a “buy” rating on shares of Edison International in a research note on Friday, January 16th. Wells Fargo & Company lowered shares of Edison International from an “equal weight” rating to an “underweight” rating and raised their price objective for the company from $56.00 to $59.00 in a research note on Tuesday, January 20th. Finally, Jefferies Financial Group cut their target price on Edison International from $59.00 to $54.00 and set a “hold” rating for the company in a research report on Wednesday.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Edison International by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 51,739,673 shares of the utilities provider’s stock valued at $2,860,169,000 after purchasing an additional 269,556 shares in the last quarter. Geode Capital Management LLC lifted its stake in Edison International by 3.5% during the second quarter. Geode Capital Management LLC now owns 12,136,256 shares of the utilities provider’s stock valued at $638,576,000 after purchasing an additional 407,039 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Edison International by 8.0% during the third quarter. AQR Capital Management LLC now owns 10,763,984 shares of the utilities provider’s stock worth $595,033,000 after buying an additional 801,082 shares in the last quarter. Invesco Ltd. grew its position in Edison International by 10.8% in the second quarter. Invesco Ltd. now owns 6,392,459 shares of the utilities provider’s stock worth $329,851,000 after buying an additional 621,924 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Edison International by 11.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,593,002 shares of the utilities provider’s stock worth $288,599,000 after buying an additional 562,991 shares during the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Edison International Stock Performance

Shares of EIX stock opened at $62.30 on Thursday. Edison International has a 12-month low of $47.73 and a 12-month high of $63.19. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.82 and a quick ratio of 0.76. The firm has a market capitalization of $23.97 billion, a price-to-earnings ratio of 8.14, a price-to-earnings-growth ratio of 0.91 and a beta of 0.83. The business has a 50 day simple moving average of $59.65 and a 200 day simple moving average of $56.69.

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

Edison International Increases Dividend

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

About Edison International

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.