Edison International Announces Quarterly Dividend of $0.83 (NYSE:EIX)

Edison International (NYSE:EIX) declared a quarterly dividend on Thursday, February 27th, RTT News reports. Shareholders of record on Monday, April 7th will be given a dividend of 0.8275 per share by the utilities provider on Wednesday, April 30th. This represents a $3.31 annualized dividend and a yield of 6.05%. The ex-dividend date of this dividend is Monday, April 7th.

Edison International has raised its dividend payment by an average of 5.6% per year over the last three years and has increased its dividend annually for the last 23 consecutive years. Edison International has a dividend payout ratio of 53.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Edison International to earn $5.76 per share next year, which means the company should continue to be able to cover its $3.31 annual dividend with an expected future payout ratio of 57.5%.

Edison International Stock Down 6.3 %

Shares of Edison International stock opened at $54.71 on Friday. The company has a market capitalization of $21.06 billion, a P/E ratio of 16.04, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The business has a 50-day moving average of $54.84 and a two-hundred day moving average of $71.65. Edison International has a 1 year low of $49.06 and a 1 year high of $88.77.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.03). The company had revenue of $17.60 billion for the quarter, compared to analyst estimates of $3.92 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. As a group, equities analysts predict that Edison International will post 4.95 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Barclays cut their price objective on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. The Goldman Sachs Group cut their price target on Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $69.00 to $65.00 in a report on Tuesday, February 18th. Guggenheim lowered Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $72.00 price target on shares of Edison International in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $76.82.

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.