Edison International (NYSE:EIX) Price Target Cut to $67.00 by Analysts at Barclays

Edison International (NYSE:EIX) had its price target reduced by Barclays from $76.00 to $67.00 in a report released on Thursday,Benzinga reports. Barclays currently has an overweight rating on the utilities provider’s stock.

Other research analysts have also recently issued research reports about the stock. Wells Fargo & Company raised their price target on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price for the company in a research report on Wednesday, January 15th. Morgan Stanley lowered their price target on Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. Jefferies Financial Group began coverage on Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 price objective for the company. Finally, UBS Group lowered their target price on shares of Edison International from $87.00 to $69.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $82.88.

Edison International Stock Performance

Shares of NYSE EIX opened at $57.10 on Thursday. The firm has a market capitalization of $22.11 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 1.20 and a beta of 0.93. Edison International has a one year low of $55.27 and a one year high of $88.77. The business has a fifty day simple moving average of $78.19 and a 200 day simple moving average of $81.12. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The business’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.38 EPS. Sell-side analysts expect that Edison International will post 4.94 EPS for the current year.

Edison International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th will be paid a $0.8275 dividend. The ex-dividend date is Tuesday, January 7th. This is an increase from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.80%. Edison International’s payout ratio is currently 97.07%.

Insider Activity

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.03% of the stock is owned by insiders.

Institutional Investors Weigh In On Edison International

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Custom Index Systems LLC bought a new position in Edison International in the fourth quarter valued at about $233,000. Heck Capital Advisors LLC acquired a new position in Edison International during the 4th quarter valued at about $65,000. Caprock Group LLC bought a new position in shares of Edison International in the 4th quarter valued at about $565,000. Mediolanum International Funds Ltd acquired a new stake in shares of Edison International during the 4th quarter worth approximately $583,000. Finally, Crews Bank & Trust bought a new stake in shares of Edison International during the fourth quarter worth approximately $25,000. 88.95% of the stock is owned by institutional investors and hedge funds.

Edison International Company Profile

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.