Edison International (NYSE:EIX) Upgraded by Barclays to Overweight Rating

Barclays upgraded shares of Edison International (NYSE:EIX) from an equal weight rating to an overweight rating in a research note issued to investors on Thursday, MarketBeat reports. Barclays currently has $84.00 price target on the utilities provider’s stock, down from their previous price target of $91.00.

Other analysts have also issued research reports about the company. Morgan Stanley cut their target price on Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. Bank of America began coverage on Edison International in a report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price objective on the stock. UBS Group lowered their target price on Edison International from $96.00 to $87.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. Royal Bank of Canada boosted their price target on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Finally, 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 for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

Edison International Stock Performance

Shares of Edison International stock opened at $79.80 on Thursday. The business’s fifty day simple moving average is $82.76 and its 200-day simple moving average is $81.68. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The firm has a market cap of $30.89 billion, a PE ratio of 23.40, a price-to-earnings-growth ratio of 1.96 and a beta of 0.93. Edison International has a 52 week low of $63.15 and a 52 week high of $88.77.

Edison International (NYSE:EIX) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.13. The company had revenue of $5.20 billion during 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%. Edison International’s revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.38 earnings per share. Equities analysts forecast that Edison International will post 4.94 earnings per share for the current year.

Edison International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th will be given a $0.8275 dividend. The ex-dividend date is Tuesday, January 7th. This is an increase from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 dividend on an annualized basis and a dividend yield of 4.15%. Edison International’s dividend payout ratio is currently 97.07%.

Insider Activity

In other news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction dated 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 filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.03% of the company’s stock.

Hedge Funds Weigh In On Edison International

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Highline Wealth Partners LLC acquired a new stake in Edison International during the third quarter worth approximately $26,000. Eastern Bank acquired a new stake in Edison International during the 3rd quarter worth $27,000. Larson Financial Group LLC lifted its position in Edison International by 125.0% in the third 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 in the third quarter valued at $32,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Edison International during the second quarter worth about $27,000. 88.95% of the stock is owned by institutional investors and hedge funds.

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.