Edison International (NYSE:EIX) Shares Cross Above 50-Day Moving Average – What’s Next?

Shares of Edison International (NYSE:EIX) passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $58.36 and traded as high as $59.19. Edison International shares last traded at $58.7780, with a volume of 3,092,987 shares.

Analysts Set New Price Targets

A number of research firms have commented on EIX. UBS Group reissued a “neutral” rating and set a $57.00 price target on shares of Edison International in a report on Thursday, September 24th. JPMorgan Chase & Co. dropped their price objective on Edison International from $61.00 to $59.00 and set a “neutral” rating for the company in a research note on Monday, October 12th. Truist Financial dropped their price objective on Edison International from $63.00 to $62.00 and set a “hold” rating for the company in a research note on Monday, October 12th. Mizuho cut Edison International from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $86.00 to $70.00 in a research report on Monday, August 31st. Finally, Morgan Stanley lifted their target price on Edison International from $60.00 to $62.00 and gave the company an “underweight” rating in a research note on Wednesday, October 21st. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $60.58.

Edison International Trading Up 1.0%

The company has a debt-to-equity ratio of 1.95, a current ratio of 0.66 and a quick ratio of 0.61. The stock’s 50-day moving average is $58.36 and its two-hundred day moving average is $67.74. The stock has a market cap of $22.62 billion, a P/E ratio of 6.06, a price-to-earnings-growth ratio of 2.43 and a beta of 0.62.

Edison International (NYSE:EIX) last posted its earnings results on Thursday, July 30th. The utilities provider reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.36. The company had revenue of $4.36 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Edison International had a net margin of 20.30% and a return on equity of 15.53%. Edison International’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period last year, the company posted $0.97 earnings per share. Equities research analysts anticipate that Edison International will post 6.13 EPS for the current year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 31st. Shareholders of record on Wednesday, October 7th will be issued a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend is Wednesday, October 7th. Edison International’s dividend payout ratio is 36.19%.

Insider Activity

In other Edison International news, Director Peter Taylor sold 500 shares of the firm’s stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $55.56, for a total transaction of $27,780.00. Following the completion of the transaction, the director owned 33,212 shares in the company, valued at $1,845,258.72. This trade represents a 1.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Edison International

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Intrua Financial LLC grew its position in shares of Edison International by 16.3% during the 3rd quarter. Intrua Financial LLC now owns 10,299 shares of the utilities provider’s stock worth $553,000 after buying an additional 1,446 shares in the last quarter. Moss Adams Wealth Advisors LLC bought a new stake in shares of Edison International in the third quarter valued at about $287,000. Childress Capital Advisors LLC raised its holdings in shares of Edison International by 67.7% in the third quarter. Childress Capital Advisors LLC now owns 4,685 shares of the utilities provider’s stock valued at $252,000 after acquiring an additional 1,892 shares in the last quarter. D.A. Davidson & CO. raised its holdings in shares of Edison International by 10.2% in the third quarter. D.A. Davidson & CO. now owns 76,812 shares of the utilities provider’s stock valued at $4,127,000 after acquiring an additional 7,135 shares in the last quarter. Finally, BOKF NA raised its holdings in shares of Edison International by 107.9% in the third quarter. BOKF NA now owns 17,594 shares of the utilities provider’s stock valued at $945,000 after acquiring an additional 9,132 shares in the last quarter. 88.95% of the stock is owned by institutional investors.

About Edison International

Edison International (NYSE: EIX) is an electric power holding company based in California. Its principal subsidiary, Southern California Edison (SCE), is one of the largest electric utilities in the United States and delivers electricity across central, coastal and Southern California. SCE serves millions of residential, commercial and industrial customers through an extensive transmission and distribution network.

Edison International’s operations are focused on the generation, transmission and distribution of electricity, as well as supporting the transition to cleaner energy.