Shares of Edison International (NYSE:EIX) have earned an average recommendation of “Buy” from the ten brokerages that are presently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $67.50.
A number of equities analysts have recently weighed in on EIX shares. TheStreet downgraded shares of Edison International from a “b-” rating to a “c” rating in a research note on Tuesday, April 27th. Wells Fargo & Company upped their price target on shares of Edison International from $66.00 to $72.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 4th. Morgan Stanley upped their price target on shares of Edison International from $67.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Monday, April 26th. Finally, KeyCorp dropped their price target on shares of Edison International from $70.00 to $66.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 27th.
Shares of EIX traded down $0.62 during mid-day trading on Monday, reaching $57.77. The company’s stock had a trading volume of 1,088,649 shares, compared to its average volume of 1,971,568. The business has a fifty day moving average of $59.44 and a 200 day moving average of $59.97. The company has a market cap of $21.92 billion, a price-to-earnings ratio of 58.35, a price-to-earnings-growth ratio of 4.59 and a beta of 0.52. Edison International has a 1 year low of $48.47 and a 1 year high of $66.68. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.21.
The firm also recently announced a quarterly dividend, which was paid on Friday, April 30th. Shareholders of record on Wednesday, March 31st were given a dividend of $0.6625 per share. This represents a $2.65 annualized dividend and a yield of 4.59%. The ex-dividend date was Tuesday, March 30th. Edison International’s payout ratio is 56.38%.
Institutional investors have recently bought and sold shares of the business. ELM Advisors LLC acquired a new stake in shares of Edison International in the fourth quarter valued at about $46,000. Louisiana State Employees Retirement System grew its position in shares of Edison International by 22.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 23,500 shares of the utilities provider’s stock valued at $1,476,000 after purchasing an additional 4,300 shares during the last quarter. Nexus Investment Management ULC acquired a new stake in shares of Edison International in the fourth quarter valued at about $218,000. IMS Capital Management acquired a new stake in shares of Edison International in the fourth quarter valued at about $258,000. Finally, Jacobs & Co. CA acquired a new stake in shares of Edison International in the fourth quarter valued at about $218,000. 87.58% of the stock is currently owned by hedge funds and other institutional investors.
Edison International Company Profile
Edison International, through its subsidiaries, generates and distributes electric power. As of March 03, 2021, it delivered electricity to 15 million residential, commercial, industrial, public authorities, agricultural, and other customers across Southern, Central, and Coastal California. Edison International also provides energy solutions to commercial and industrial users.
Further Reading: Cost of Debt
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