ValuEngine upgraded shares of Edison International (NYSE:EIX) from a hold rating to a buy rating in a research report report published on Wednesday morning.

Other analysts have also issued research reports about the stock. Royal Bank Of Canada reaffirmed a buy rating and set a $84.00 price target on shares of Edison International in a research report on Sunday, September 17th. Morgan Stanley lifted their price target on shares of Edison International from $90.00 to $92.00 and gave the company an equal weight rating in a research report on Friday, September 8th. Mizuho reaffirmed a buy rating and set a $87.00 price target (up previously from $84.00) on shares of Edison International in a research report on Wednesday, August 23rd. Bank of America Corporation reaffirmed a buy rating and set a $86.00 price target on shares of Edison International in a research report on Tuesday, October 24th. Finally, BidaskClub raised shares of Edison International from a sell rating to a hold rating in a research report on Tuesday, August 22nd. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $85.08.

Edison International (NYSE:EIX) traded down $0.86 on Wednesday, reaching $80.89. 1,395,112 shares of the company’s stock were exchanged, compared to its average volume of 1,688,196. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.51 and a quick ratio of 0.47. Edison International has a twelve month low of $67.73 and a twelve month high of $83.38. The stock has a market cap of $26,640.00, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 3.01 and a beta of 0.24.

Edison International (NYSE:EIX) last released its earnings results on Monday, October 30th. The utilities provider reported $1.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.10. Edison International had a net margin of 13.18% and a return on equity of 10.84%. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.53 billion. During the same period last year, the company posted $1.29 EPS. The business’s revenue was down 2.5% on a year-over-year basis. sell-side analysts forecast that Edison International will post 4.31 EPS for the current year.

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The company also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th were given a $0.5425 dividend. This represents a $2.17 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend was Thursday, September 28th. Edison International’s payout ratio is 49.54%.

In other Edison International news, insider Ronald L. Litzinger sold 224,718 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $82.00, for a total value of $18,426,876.00. Following the sale, the insider now owns 14,121 shares of the company’s stock, valued at $1,157,922. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.41% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in EIX. Wetherby Asset Management Inc. grew its stake in shares of Edison International by 0.3% in the second quarter. Wetherby Asset Management Inc. now owns 3,824 shares of the utilities provider’s stock worth $299,000 after acquiring an additional 12 shares in the last quarter. CENTRAL TRUST Co grew its stake in shares of Edison International by 0.7% in the second quarter. CENTRAL TRUST Co now owns 3,008 shares of the utilities provider’s stock worth $235,000 after acquiring an additional 22 shares in the last quarter. HL Financial Services LLC grew its stake in shares of Edison International by 2.7% in the second quarter. HL Financial Services LLC now owns 2,681 shares of the utilities provider’s stock worth $210,000 after acquiring an additional 70 shares in the last quarter. Eqis Capital Management Inc. grew its stake in shares of Edison International by 1.0% in the second quarter. Eqis Capital Management Inc. now owns 7,592 shares of the utilities provider’s stock worth $594,000 after acquiring an additional 73 shares in the last quarter. Finally, Cutter & CO Brokerage Inc. grew its stake in shares of Edison International by 1.6% in the second quarter. Cutter & CO Brokerage Inc. now owns 4,635 shares of the utilities provider’s stock worth $362,000 after acquiring an additional 75 shares in the last quarter. 80.88% of the stock is currently owned by institutional investors.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Edison International (NYSE:EIX)

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