Edison International (NYSE:EIX - Get Free Report)'s stock price reached a new 52-week low on Tuesday after Barclays lowered their price target on the stock from $84.00 to $76.00. Barclays currently has an overweight rating on the stock. Edison International traded as low as $55.27 and last traded at $57.09, with a volume of 17334754 shares changing hands. The stock had previously closed at $65.00.
EIX has been the subject of a number of other reports. UBS Group dropped their target price on shares of Edison International from $96.00 to $87.00 and set a "neutral" rating for the company in a report on Thursday, December 19th. Morgan Stanley lowered their target price on Edison International from $74.00 to $72.00 and set an "underweight" rating on the stock in a report on Friday, November 22nd. Wells Fargo & Company increased their price objective on shares of Edison International from $87.00 to $94.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Jefferies Financial Group began coverage on shares of Edison International in a research report on Thursday, November 7th. They set a "buy" rating and a $93.00 target price for the company. Finally, Royal Bank of Canada raised their price objective on shares of Edison International from $94.00 to $100.00 and gave the stock an "outperform" rating in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $87.33.
Check Out Our Latest Research Report on EIX
Insider Transactions at Edison International
In other news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.03% of the company's stock.
Institutional Trading of Edison International
A number of hedge funds have recently made changes to their positions in EIX. Highline Wealth Partners LLC bought a new position in shares of Edison International during the third quarter worth about $26,000. Eastern Bank bought a new stake in shares of Edison International in the 3rd quarter valued at approximately $27,000. Larson Financial Group LLC boosted its holdings in Edison International by 125.0% in the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider's stock worth $31,000 after purchasing an additional 195 shares during the period. Prospera Private Wealth LLC acquired a new stake in shares of Edison International during the third quarter worth $32,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Edison International in the 2nd quarter worth about $27,000. Institutional investors and hedge funds own 88.95% of the company's stock.
Edison International Stock Performance
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's 50-day moving average price is $80.71 and its 200-day moving average price is $81.62. The company has a market capitalization of $22.65 billion, a P/E ratio of 17.16, a P/E/G ratio of 1.96 and a beta of 0.93.
Edison International (NYSE:EIX - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter in the previous year, the company posted $1.38 earnings per share. The company's revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, equities analysts expect that Edison International will post 4.94 EPS for the current year.
Edison International Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th will be paid a dividend of $0.8275 per share. The ex-dividend date is Tuesday, January 7th. This represents a $3.31 annualized dividend and a yield of 5.66%. This is an increase from Edison International's previous quarterly dividend of $0.78. Edison International's payout ratio is presently 97.07%.
About Edison International
(
Get Free Report)
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.
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