Edison International (NYSE:EIX) Price Target Lowered to $72.00 at Morgan Stanley

Edison International (NYSE:EIX) had its price objective decreased by Morgan Stanley from $74.00 to $72.00 in a report published on Friday morning,Benzinga reports. Morgan Stanley currently has an underweight rating on the utilities provider’s stock.

Other research analysts have also issued reports about the stock. Royal Bank of Canada upped their target price on shares of Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Evercore ISI raised their target price on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Wells Fargo & Company lifted their target price 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. Jefferies Financial Group initiated coverage on Edison International in a research note on Thursday, November 7th. They set a “buy” rating and a $93.00 price target on the stock. Finally, Barclays upped their target price on Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $88.75.

Edison International Price Performance

Shares of NYSE EIX opened at $86.48 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The company’s 50-day moving average price is $84.64 and its 200 day moving average price is $80.17. Edison International has a 52 week low of $63.15 and a 52 week high of $88.77. The stock has a market cap of $33.48 billion, a price-to-earnings ratio of 25.36, a PEG ratio of 2.08 and a beta of 0.92.

Edison International (NYSE:EIX) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating the consensus estimate of $1.38 by $0.13. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.38 earnings per share. As a group, research analysts forecast that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were issued a $0.78 dividend. The ex-dividend date was Monday, October 7th. This represents a $3.12 annualized dividend and a yield of 3.61%. Edison International’s payout ratio is 91.50%.

Insider Buying and Selling at Edison International

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.03% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Highline Wealth Partners LLC purchased a new position in shares of Edison International during the 3rd quarter valued at approximately $26,000. Eastern Bank acquired a new stake in Edison International in the third quarter valued at $27,000. Larson Financial Group LLC boosted its stake in 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 acquired a new position in Edison International during the 3rd quarter worth $32,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Edison International in the 2nd quarter worth about $27,000. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

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.