Analysts Set Edison International (NYSE:EIX) PT at $88.75

Edison International (NYSE:EIX - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the twelve brokerages that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $88.75.

EIX has been the subject of several research analyst reports. Jefferies Financial Group initiated coverage on Edison International in a research note on Thursday, November 7th. They issued a "buy" rating and a $93.00 price objective for the company. Evercore ISI boosted their price objective on shares of Edison International from $82.00 to $88.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 14th. UBS Group boosted their target price on shares of Edison International from $86.00 to $89.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 4th. Bank of America assumed coverage on Edison International in a research note on Thursday, September 12th. They set a "buy" rating and a $95.00 target price for the company. Finally, Royal Bank of Canada upped their price objective on Edison International from $94.00 to $100.00 and gave the company an "outperform" rating in a research note on Friday, October 4th.

Insider Activity

In other news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.03% of the company's stock.

Hedge Funds Weigh In On Edison International

Hedge funds have recently modified their holdings of the company. State Street Corp boosted its holdings in Edison International by 0.7% in the 3rd quarter. State Street Corp now owns 32,549,936 shares of the utilities provider's stock worth $2,834,774,000 after buying an additional 224,337 shares during the period. FMR LLC boosted its stake in shares of Edison International by 8.7% in the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider's stock valued at $1,898,638,000 after purchasing an additional 1,741,835 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Edison International by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider's stock valued at $835,142,000 after purchasing an additional 210,461 shares during the last quarter. Clearbridge Investments LLC raised its position in Edison International by 0.5% in the 2nd quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider's stock worth $360,198,000 after purchasing an additional 24,834 shares during the period. Finally, American Century Companies Inc. lifted its stake in Edison International by 1.8% in the second quarter. American Century Companies Inc. now owns 3,864,399 shares of the utilities provider's stock worth $277,503,000 after purchasing an additional 67,089 shares during the last quarter. Institutional investors own 88.95% of the company's stock.

Edison International Stock Down 0.7 %

NYSE:EIX traded down $0.61 during mid-day trading on Friday, hitting $87.75. The stock had a trading volume of 1,243,975 shares, compared to its average volume of 2,033,863. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The stock has a 50-day simple moving average of $84.89 and a two-hundred day simple moving average of $80.59. The company has a market capitalization of $33.97 billion, a PE ratio of 25.73, a PEG ratio of 2.11 and a beta of 0.92. Edison International has a twelve month low of $63.15 and a twelve month high of $88.77.

Edison International (NYSE:EIX - Get Free Report) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, topping analysts' consensus estimates of $1.38 by $0.13. The business had revenue of $5.20 billion for the quarter, compared to analysts' expectations of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business's revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.38 earnings per share. On average, equities research analysts anticipate that Edison International will post 4.94 EPS for the current year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were issued a $0.78 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 annualized dividend and a yield of 3.56%. Edison International's dividend payout ratio is currently 91.50%.

About Edison International

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.