Edison International (NYSE:EIX) Stock Has Consensus Target Price of $60.73

Edison International (NYSE:EIX) has earned an average recommendation of “Reduce” from the fifteen ratings firms that are covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $60.58.

EIX has been the subject of a number of recent analyst reports. Truist Financial cut their price objective on Edison International from $63.00 to $62.00 and set a “hold” rating for the company in a research report on Monday, October 12th. Mizuho set a $63.00 price objective on Edison International in a research report on Monday. Barclays upped their price objective on shares of Edison International from $53.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Friday, October 30th. UBS Group upped their target price on Edison International from $57.00 to $62.00 and gave the company a “neutral” rating in a research report on Friday, October 30th. Finally, Argus downgraded shares of Edison International from a “buy” rating to a “hold” rating in a research note on Wednesday, August 26th.

Edison International Stock Performance

NYSE:EIX opened at $59.27 on Friday. The company has a debt-to-equity ratio of 2.01, a current ratio of 0.77 and a quick ratio of 0.71. The company has a market cap of $22.81 billion, a price-to-earnings ratio of 6.30, a PEG ratio of 2.53 and a beta of 0.56. The stock’s 50 day simple moving average is $56.41 and its two-hundred day simple moving average is $67.70. Edison International has a 1 year low of $51.10 and a 1 year high of $81.62.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Thursday, October 29th. The utilities provider reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.11. Edison International had a return on equity of 14.17% and a net margin of 20.50%. The business had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.34 billion. During the same quarter last year, the business posted $2.34 EPS. The business’s quarterly revenue was down 15.0% compared to the same quarter last year. As a group, equities analysts anticipate that Edison International will post 6.13 earnings per share for the current fiscal year.

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, October 31st. Investors of record on Wednesday, October 7th were paid a $0.8775 dividend. This represents a $3.51 annualized dividend and a yield of 5.9%. The ex-dividend date was Wednesday, October 7th. Edison International’s dividend payout ratio (DPR) is 37.30%.

Insider Activity at Edison International

In related news, Director Peter Taylor sold 500 shares of the business’s stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $55.56, for a total value of $27,780.00. Following the transaction, the director directly owned 33,212 shares of the company’s stock, valued at approximately $1,845,258.72. The trade was a 1.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Avior Wealth Management LLC increased its holdings in shares of Edison International by 4.7% during the second quarter. Avior Wealth Management LLC now owns 2,956 shares of the utilities provider’s stock valued at $220,000 after acquiring an additional 134 shares in the last quarter. Equitable Trust Co. boosted its position in Edison International by 0.8% in the 1st quarter. Equitable Trust Co. now owns 19,616 shares of the utilities provider’s stock valued at $1,435,000 after buying an additional 148 shares during the last quarter. Altshuler Shaham Ltd raised its stake in Edison International by 36.6% during the 1st quarter. Altshuler Shaham Ltd now owns 578 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 155 shares in the last quarter. Cidel Asset Management Inc. raised its position in Edison International by 3.0% during the second quarter. Cidel Asset Management Inc. now owns 6,088 shares of the utilities provider’s stock valued at $453,000 after buying an additional 178 shares during the period. Finally, Paladin Wealth LLC boosted its stake in Edison International by 6.3% during the 2nd quarter. Paladin Wealth LLC now owns 3,035 shares of the utilities provider’s stock valued at $226,000 after purchasing an additional 181 shares during the period. Institutional investors own 88.95% of the company’s stock.

About Edison International

Edison International (NYSE: EIX) is an electric power holding company based in California. Its principal subsidiary, Southern California Edison (SCE), is one of the largest electric utilities in the United States and delivers electricity across central, coastal and Southern California. SCE serves millions of residential, commercial and industrial customers through an extensive transmission and distribution network.

Edison International’s operations are focused on the generation, transmission and distribution of electricity, as well as supporting the transition to cleaner energy.