Edison International (NYSE:EIX) Trading Up 9% - Time to Buy?

Edison International (NYSE:EIX - Get Free Report)'s stock price rose 9% during mid-day trading on Wednesday . The company traded as high as $63.85 and last traded at $63.71. Approximately 2,483,349 shares were traded during trading, a decline of 64% from the average daily volume of 6,880,090 shares. The stock had previously closed at $58.43.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on EIX. Jefferies Financial Group initiated coverage on shares of Edison International in a report on Thursday, November 7th. They issued a "buy" rating and a $93.00 price objective on the stock. Wells Fargo & Company lifted their target price on Edison International from $87.00 to $94.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. LADENBURG THALM/SH SH raised Edison International from a "sell" rating to a "neutral" rating and set a $56.50 price target for the company in a research report on Wednesday. Barclays lowered their price target on Edison International from $84.00 to $76.00 and set an "overweight" rating on the stock in a research report on Monday. Finally, Royal Bank of Canada increased their price objective on Edison International from $94.00 to $100.00 and gave the company an "outperform" rating in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $84.96.

Edison International Trading Up 4.9 %

The company has a market cap of $23.74 billion, a price-to-earnings ratio of 17.98, a PEG ratio of 1.96 and a beta of 0.93. 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 business's 50 day moving average price is $80.71 and its 200-day moving average price is $81.62.

Edison International (NYSE:EIX - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same period last year, the business posted $1.38 earnings per share. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. On average, equities analysts anticipate that Edison International will post 4.94 EPS for the current fiscal year.

Edison International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th will be issued a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 5.40%. This is a positive change from Edison International's previous quarterly dividend of $0.78. The ex-dividend date is Tuesday, January 7th. Edison International's dividend payout ratio is currently 97.07%.

Insiders Place Their Bets

In related news, VP Adam S. Umanoff sold 25,619 shares of the company's stock in a transaction dated 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 filing with the SEC, which is available through the SEC website. Company insiders own 1.03% of the company's stock.

Institutional Trading of Edison International

A number of institutional investors have recently bought and sold shares of EIX. Lake Street Advisors Group LLC raised its position in shares of Edison International by 4.3% in the third quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider's stock valued at $263,000 after buying an additional 124 shares in the last quarter. Baker Tilly Wealth Management LLC increased its stake in Edison International by 2.8% during the 3rd quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider's stock worth $416,000 after acquiring an additional 129 shares during the period. SFE Investment Counsel raised its holdings in Edison International by 0.3% in the 3rd quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider's stock valued at $3,721,000 after acquiring an additional 130 shares in the last quarter. Assetmark Inc. grew its holdings in shares of Edison International by 32.9% during the 3rd quarter. Assetmark Inc. now owns 634 shares of the utilities provider's stock worth $55,000 after purchasing an additional 157 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC increased its position in shares of Edison International by 2.1% in the third quarter. Dynamic Advisor Solutions LLC now owns 7,697 shares of the utilities provider's stock worth $670,000 after purchasing an additional 159 shares during the period. Institutional investors 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.