Edison International (EIX) Stock Rating Lowered by Zacks Investment Research

Edison International (NYSE:EIX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.

According to Zacks, “Edison International’s share price outperformed the Zacks categorized Utility–Electric power industry price in the last one year backed by its focus on transmission and distribution infrastructural development programs, and expansion of operations. Its SCE unit targets an average annual rate base and earnings growth of 7% through 2017 driven by infrastructural investment. However, its performance is subject to approvals from regulatory bodies like California Public Utilities Commission and Federal Energy Regulatory Commission. Any adverse decision on a General Rate Case might greatly affect the utility's earnings growth, moving forward.”

EIX has been the subject of several other research reports. Jefferies Group LLC restated a “hold” rating and issued a $83.00 target price (up previously from $80.00) on shares of Edison International in a research note on Tuesday, May 2nd. BidaskClub cut shares of Edison International from a “hold” rating to a “sell” rating in a research note on Sunday, June 25th. BMO Capital Markets restated an “outperform” rating and issued a $85.00 target price (up previously from $82.00) on shares of Edison International in a research note on Wednesday, May 3rd. Deutsche Bank AG raised their target price on shares of Edison International from $79.00 to $81.00 and gave the stock a “hold” rating in a research note on Tuesday, April 11th. Finally, Mizuho restated a “buy” rating and issued a $91.50 target price on shares of Edison International in a research note on Wednesday, April 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $82.86.

Shares of Edison International (EIX) opened at 76.44 on Friday. The stock’s 50 day moving average is $80.18 and its 200 day moving average is $77.33. Edison International has a 1-year low of $67.44 and a 1-year high of $82.82. The firm has a market capitalization of $24.90 billion, a P/E ratio of 18.11 and a beta of 0.22. Edison International also saw unusually large options trading activity on Monday. Stock investors purchased 4,227 call options on the stock. This is an increase of 1,532% compared to the average volume of 259 call options.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Monday, May 1st. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.21. Edison International had a net margin of 12.82% and a return on equity of 10.78%. The company had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.71 billion. During the same period last year, the firm posted $0.82 EPS. Edison International’s revenue for the quarter was up .9% on a year-over-year basis. Equities analysts predict that Edison International will post $4.21 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Friday, June 30th will be issued a dividend of $0.5425 per share. The ex-dividend date is Wednesday, June 28th. This represents a $2.17 annualized dividend and a yield of 2.84%. Edison International’s dividend payout ratio (DPR) is currently 50.94%.

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In other news, insider Ronald L. Litzinger sold 26,035 shares of Edison International stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $78.85, for a total transaction of $2,052,859.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director W Brett White sold 2,500 shares of Edison International stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $81.67, for a total transaction of $204,175.00. Following the sale, the director now owns 2,500 shares of the company’s stock, valued at $204,175. The disclosure for this sale can be found here. Insiders have sold a total of 31,035 shares of company stock valued at $2,460,285 over the last 90 days. 0.41% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the company. Guardian Life Insurance Co. of America increased its stake in shares of Edison International by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 1,256 shares of the utilities provider’s stock worth $100,000 after buying an additional 8 shares during the period. Jones Collombin Investment Counsel Inc increased its stake in shares of Edison International by 69.4% in the first quarter. Jones Collombin Investment Counsel Inc now owns 1,745 shares of the utilities provider’s stock worth $139,000 after buying an additional 715 shares during the period. Parallel Advisors LLC increased its stake in shares of Edison International by 41.7% in the first quarter. Parallel Advisors LLC now owns 2,517 shares of the utilities provider’s stock worth $198,000 after buying an additional 741 shares during the period. Wayne Hummer Investments L.L.C. purchased a new stake in shares of Edison International during the first quarter worth approximately $200,000. Finally, Gofen & Glossberg LLC IL purchased a new stake in shares of Edison International during the first quarter worth approximately $201,000. Institutional investors and hedge funds own 82.45% of the company’s stock.

Edison International Company Profile

Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.

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Analyst Recommendations for Edison International (NYSE:EIX)

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