Edison International (NYSE:EIX) Price Target Increased to $75.00 by Analysts at Barclays

Edison International (NYSE:EIX) had its target price boosted by Barclays from $72.00 to $75.00 in a report issued on Thursday morning, Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

Other analysts also recently issued reports about the stock. Guggenheim raised shares of Edison International from a neutral rating to a buy rating and lifted their price objective for the stock from $66.00 to $84.00 in a report on Monday, January 22nd. Royal Bank of Canada dropped their price objective on shares of Edison International from $81.00 to $80.00 and set an outperform rating for the company in a report on Thursday, March 7th. TheStreet downgraded shares of Edison International from a b rating to a c+ rating in a report on Thursday, February 22nd. The Goldman Sachs Group started coverage on shares of Edison International in a report on Wednesday, April 10th. They set a neutral rating and a $78.00 price objective for the company. Finally, StockNews.com raised shares of Edison International from a sell rating to a hold rating in a research note on Saturday, February 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $72.78.

Edison International Price Performance

Shares of EIX traded up $0.37 during mid-day trading on Thursday, reaching $72.34. 1,476,177 shares of the stock traded hands, compared to its average volume of 1,983,937. The firm has a fifty day moving average price of $69.41 and a 200 day moving average price of $67.93. The company has a market cap of $27.83 billion, a price-to-earnings ratio of 31.73 and a beta of 0.95. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 2.04. Edison International has a 1 year low of $58.82 and a 1 year high of $74.40.

Edison International (NYSE:EIX) last released its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.01. Edison International had a net margin of 6.14% and a return on equity of 12.48%. The firm had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.16 billion. During the same period in the previous year, the business earned $1.09 EPS. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, equities research analysts predict that Edison International will post 4.92 earnings per share for the current year.

Edison International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date of this dividend was Wednesday, March 27th. Edison International’s payout ratio is 136.84%.

Hedge Funds Weigh In On Edison International

A number of hedge funds have recently modified their holdings of the company. Able Wealth Management LLC purchased a new position in shares of Edison International during the fourth quarter valued at about $25,000. Bruce G. Allen Investments LLC purchased a new stake in Edison International in the fourth quarter worth about $27,000. Global Trust Asset Management LLC purchased a new stake in Edison International in the first quarter worth about $28,000. WASHINGTON TRUST Co lifted its stake in shares of Edison International by 117.4% in the fourth quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock worth $36,000 after buying an additional 270 shares in the last quarter. Finally, Northwest Financial Advisors bought a new position in shares of Edison International in the fourth quarter worth approximately $40,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Company Profile

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.