Edison International (NYSE:EIX) Sets New 1-Year Low - Here's Why

Edison International (NYSE:EIX - Get Free Report) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $55.02 and last traded at $55.45, with a volume of 979288 shares traded. The stock had previously closed at $55.80.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Guggenheim downgraded shares of Edison International from a "buy" rating to a "neutral" rating in a research report on Thursday, January 23rd. Royal Bank of Canada boosted their price target on shares of Edison International from $94.00 to $100.00 and gave the company an "outperform" rating in a report on Friday, October 4th. Barclays dropped their price target on shares of Edison International from $76.00 to $67.00 and set an "overweight" rating on the stock in a research note on Thursday, January 23rd. UBS Group reduced their price objective on Edison International from $87.00 to $69.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Finally, Wells Fargo & Company raised their price target on Edison International from $87.00 to $94.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $82.88.

Edison International Trading Down 0.1 %

The company's fifty day moving average is $74.80 and its 200-day moving average is $80.37. 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 firm has a market capitalization of $20.90 billion, a P/E ratio of 15.83, a P/E/G ratio of 1.15 and a beta of 0.93.

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

Edison International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 7th will be given a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a dividend yield of 6.13%. The ex-dividend date of this dividend is Tuesday, January 7th. This is a boost from Edison International's previous quarterly dividend of $0.78. Edison International's payout ratio is currently 97.07%.

Institutional Trading of Edison International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EIX. Crews Bank & Trust bought a new stake in shares of Edison International in the fourth quarter valued at approximately $25,000. Highline Wealth Partners LLC acquired a new position in Edison International during the 3rd quarter valued at $26,000. Groupama Asset Managment boosted its holdings in Edison International by 0.8% in the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 237 shares during the period. Eastern Bank acquired a new stake in Edison International in the 3rd quarter worth $27,000. Finally, Larson Financial Group LLC increased its holdings in shares of Edison International by 125.0% during the 3rd 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. Institutional investors and hedge funds own 88.95% of the company's stock.

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.