Edison International (NYSE:EIX) Given “Neutral” Rating at JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their neutral rating on shares of Edison International (NYSE:EIX) in a report published on Wednesday, MarketBeat reports. The firm currently has a $72.00 price target on the utilities provider’s stock.

Several other brokerages have also commented on EIX. Jefferies Financial Group began coverage on shares of Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target on the stock. 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 research report on Thursday, January 16th. Wells Fargo & Company raised their target price on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Guggenheim lowered shares of Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. Finally, LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price on the stock in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $82.11.

Edison International Stock Performance

Shares of Edison International stock opened at $52.72 on Wednesday. The firm has a market capitalization of $20.41 billion, a P/E ratio of 15.46, a P/E/G ratio of 1.05 and a beta of 0.90. Edison International has a 52 week low of $49.06 and a 52 week high of $88.77. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The firm’s 50 day moving average is $69.11 and its two-hundred day moving average is $79.10.

Edison International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th were issued a $0.8275 dividend. The ex-dividend date was Tuesday, January 7th. This represents a $3.31 dividend on an annualized basis and a yield of 6.28%. This is an increase from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio (DPR) is 97.07%.

Institutional Investors Weigh In On Edison International

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Crews Bank & Trust acquired a new position in shares of Edison International during the 4th quarter worth $25,000. Highline Wealth Partners LLC acquired a new position in shares of Edison International during the 3rd quarter worth $26,000. Groupama Asset Managment raised its stake in shares of Edison International by 0.8% during the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock worth $26,000 after buying an additional 237 shares during the last quarter. Eastern Bank acquired a new position in shares of Edison International during the 3rd quarter worth $27,000. Finally, Larson Financial Group LLC raised its stake in shares of Edison International by 125.0% during the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after buying an additional 195 shares during the last quarter. Institutional investors and hedge funds 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.