Edison International (NYSE:EIX) Price Target Cut to $87.00 by Analysts at UBS Group

Edison International (NYSE:EIX) had its price objective lowered by UBS Group from $96.00 to $87.00 in a research report report published on Thursday morning,Benzinga reports. UBS Group currently has a neutral rating on the utilities provider’s stock.

Several other research firms have also recently weighed in on EIX. Royal Bank of Canada increased their price target on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Bank of America started coverage on Edison International in a research report on Thursday, September 12th. They issued a “buy” rating and a $95.00 target price on the stock. Jefferies Financial Group initiated coverage on shares of Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 price objective on the stock. Argus boosted their target price on shares of Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Finally, Wells Fargo & Company upped their target price on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $88.58.

Edison International Trading Down 0.4 %

Shares of NYSE:EIX opened at $77.93 on Thursday. Edison International has a 1 year low of $63.15 and a 1 year high of $88.77. The stock’s fifty day moving average price is $83.88 and its 200-day moving average price is $81.24. The company has a market cap of $30.17 billion, a P/E ratio of 22.85, a PEG ratio of 1.96 and a beta of 0.92. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81.

Edison International (NYSE:EIX) last announced its quarterly earnings results 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. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter last year, the firm posted $1.38 EPS. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. Sell-side analysts expect that Edison International will post 4.94 earnings per share for the current year.

Edison International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 7th will be given a dividend of $0.8275 per share. The ex-dividend date of this dividend is Tuesday, January 7th. This represents a $3.31 annualized dividend and a dividend yield of 4.25%. This is a boost from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio (DPR) is currently 97.07%.

Insider Buying and Selling

In related news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.03% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in EIX. Highline Wealth Partners LLC bought a new position in Edison International during the third quarter valued at approximately $26,000. Eastern Bank purchased a new stake in shares of Edison International during the 3rd quarter worth approximately $27,000. Larson Financial Group LLC boosted its position 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 valued at $31,000 after acquiring an additional 195 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in shares of Edison International in the third quarter valued at $32,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Edison International in the second quarter valued at $27,000. Hedge funds and other institutional investors 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.