Several other brokerages also recently weighed in on EIX. Argus lowered their target price on Edison International from $86.00 to $81.00 and set a buy rating on the stock in a research note on Tuesday. Zacks Investment Research upgraded Edison International from a hold rating to a buy rating and set a $85.00 target price on the stock in a research note on Tuesday, September 27th. SunTrust Banks Inc. lifted their target price on Edison International from $82.00 to $84.00 and gave the company a buy rating in a research note on Monday, September 26th. Deutsche Bank AG set a $78.00 target price on Edison International and gave the company a hold rating in a research note on Sunday, September 4th. Finally, Jefferies Group reiterated a hold rating and issued a $80.00 target price on shares of Edison International in a research note on Friday, September 2nd. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $77.38.
Edison International (NYSE:EIX) traded up 0.723% on Tuesday, reaching $70.325. The company had a trading volume of 155,236 shares. Edison International has a 52-week low of $57.51 and a 52-week high of $78.72. The company has a market capitalization of $22.91 billion, a PE ratio of 26.075 and a beta of 0.23. The company’s 50-day moving average is $73.08 and its 200-day moving average is $73.21.
Edison International (NYSE:EIX) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.85 EPS for the quarter, missing the consensus estimate of $0.97 by $0.12. The firm had revenue of $2.78 billion for the quarter, compared to analyst estimates of $3.18 billion. Edison International had a return on equity of 9.13% and a net margin of 8.56%. The company’s quarterly revenue was down 4.5% on a year-over-year basis. During the same period last year, the firm earned $1.16 EPS. Equities analysts anticipate that Edison International will post $3.91 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend is Wednesday, September 28th. Edison International’s dividend payout ratio (DPR) is currently 71.11%.
In other news, Director Jagjeet S. Bindra sold 3,995 shares of Edison International stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $73.80, for a total value of $294,831.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ronald L. Litzinger sold 38,084 shares of Edison International stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $72.10, for a total transaction of $2,745,856.40. Following the completion of the transaction, the insider now owns 12,053 shares of the company’s stock, valued at approximately $869,021.30. The disclosure for this sale can be found here. 1.51% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its position in Edison International by 309.5% in the first quarter. Renaissance Technologies LLC now owns 769,800 shares of the company’s stock valued at $55,341,000 after buying an additional 581,800 shares during the period. RS Investment Management Co. LLC boosted its position in Edison International by 0.8% in the second quarter. RS Investment Management Co. LLC now owns 337,250 shares of the company’s stock valued at $26,194,000 after buying an additional 2,730 shares during the period. Strs Ohio boosted its position in Edison International by 7.7% in the second quarter. Strs Ohio now owns 144,833 shares of the company’s stock valued at $11,249,000 after buying an additional 10,369 shares during the period. Panagora Asset Management Inc. boosted its position in Edison International by 145.3% in the first quarter. Panagora Asset Management Inc. now owns 220,063 shares of the company’s stock valued at $15,820,000 after buying an additional 130,351 shares during the period. Finally, Adams Diversified Equity Fund Inc. boosted its position in Edison International by 52.9% in the second quarter. Adams Diversified Equity Fund Inc. now owns 149,800 shares of the company’s stock valued at $11,635,000 after buying an additional 51,800 shares during the period. Hedge funds and other institutional investors own 81.95% of the company’s stock.
About Edison International
Edison International is the parent holding company of Southern California Edison Company (SCE). SCE is engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. It is also the parent company of subsidiaries that are engaged in competitive businesses focused on providing energy services to commercial and industrial customers, including distributed resources, engaging in transmission opportunities, and exploring distributed water treatment and recycling.
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