Edison International (NYSE:EIX) Price Target Raised to $52.00 at Morgan Stanley

Edison International (NYSE:EIX - Free Report) had its price target upped by Morgan Stanley from $48.00 to $52.00 in a research report released on Thursday morning,Benzinga reports. Morgan Stanley currently has an underweight rating on the utilities provider's stock.

A number of other brokerages have also issued reports on EIX. UBS Group raised Edison International from a "neutral" rating to a "buy" rating and cut their target price for the company from $69.00 to $65.00 in a research report on Tuesday, February 18th. The Goldman Sachs Group cut their price target on shares of Edison International from $88.00 to $68.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Guggenheim lowered shares of Edison International from a "buy" rating to a "neutral" rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $72.00 target price on shares of Edison International in a research report on Wednesday, February 12th. Finally, Barclays reduced their price target on shares of Edison International from $67.00 to $65.00 and set an "overweight" rating on the stock in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $76.82.

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Edison International Stock Up 0.7 %

EIX traded up $0.42 during trading hours on Thursday, reaching $58.59. 2,731,930 shares of the stock traded hands, compared to its average volume of 2,664,885. Edison International has a fifty-two week low of $49.06 and a fifty-two week high of $88.77. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The company has a market cap of $22.56 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 1.07 and a beta of 0.87. The firm's fifty day simple moving average is $55.27 and its two-hundred day simple moving average is $73.20.

Edison International (NYSE:EIX - Get Free Report) last announced its earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.03). Edison International had a net margin of 8.52% and a return on equity of 13.17%. The business had revenue of $17.60 billion for the quarter, compared to analyst estimates of $3.92 billion. As a group, analysts forecast that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be paid a dividend of $0.8275 per share. The ex-dividend date is Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a yield of 5.65%. Edison International's payout ratio is currently 100.30%.

Institutional Investors Weigh In On Edison International

A number of hedge funds have recently added to or reduced their stakes in the stock. Swedbank AB lifted its position in Edison International by 3.3% in the 4th quarter. Swedbank AB now owns 523,433 shares of the utilities provider's stock valued at $41,791,000 after purchasing an additional 16,614 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Edison International in the fourth quarter valued at approximately $235,000. KBC Group NV raised its holdings in shares of Edison International by 23.7% during the fourth quarter. KBC Group NV now owns 61,342 shares of the utilities provider's stock valued at $4,898,000 after buying an additional 11,764 shares during the last quarter. abrdn plc boosted its position in shares of Edison International by 19.5% during the fourth quarter. abrdn plc now owns 1,695,182 shares of the utilities provider's stock worth $134,335,000 after buying an additional 276,656 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Edison International by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,416,770 shares of the utilities provider's stock worth $192,955,000 after buying an additional 76,654 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors.

Edison International Company Profile

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.