Barclays Trims Edison International (NYSE:EIX) Target Price to $89.00

Edison International (NYSE:EIX - Free Report) had its price target lowered by Barclays from $91.00 to $89.00 in a research report sent to investors on Tuesday, Benzinga reports. Barclays currently has an equal weight rating on the utilities provider's stock.

EIX has been the topic of a number of other research reports. Morgan Stanley lifted their price target on shares of Edison International from $68.00 to $72.00 and gave the stock an underweight rating in a report on Wednesday, September 25th. Evercore ISI upped their price target on Edison International from $82.00 to $88.00 and gave the company an outperform rating in a research report on Wednesday, August 14th. Royal Bank of Canada boosted 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. Argus lifted their target price on shares of Edison International from $82.00 to $97.00 and gave the stock a buy rating in a research note on Wednesday, September 11th. Finally, Wells Fargo & Company upped their price target on shares of Edison International from $86.00 to $87.00 and gave the company an overweight rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Edison International currently has an average rating of Hold and an average target price of $86.50.

Edison International Stock Up 0.6 %

NYSE:EIX traded up $0.53 during trading hours on Tuesday, hitting $85.07. 2,083,618 shares of the company traded hands, compared to its average volume of 1,997,547. Edison International has a one year low of $61.64 and a one year high of $88.77. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 2.04. The company has a market cap of $32.85 billion, a PE ratio of 34.23, a PEG ratio of 1.92 and a beta of 0.91. The firm's 50-day simple moving average is $85.02 and its 200-day simple moving average is $77.42.

Edison International (NYSE:EIX - Get Free Report) last announced its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.05 by $0.18. The firm had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.12 billion. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The business's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.01 EPS. Equities analysts predict that Edison International will post 4.97 earnings per share for the current year.

Edison International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, October 7th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.67%. The ex-dividend date is Monday, October 7th. Edison International's dividend payout ratio (DPR) is presently 125.30%.

Insider Transactions at Edison International

In other news, CEO J Andrew Murphy sold 1,362 shares of the firm's stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $85.00, for a total transaction of $115,770.00. Following the transaction, the chief executive officer now directly owns 19,850 shares of the company's stock, valued at approximately $1,687,250. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Natalie K. Schilling sold 2,341 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the completion of the sale, the vice president now directly owns 6,338 shares in the company, valued at approximately $507,040. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO J Andrew Murphy sold 1,362 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $85.00, for a total value of $115,770.00. Following the completion of the sale, the chief executive officer now owns 19,850 shares of the company's stock, valued at approximately $1,687,250. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,099 shares of company stock worth $7,223,342. 1.03% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Edison International

A number of hedge funds and other institutional investors have recently made changes to their positions in EIX. Equitable Trust Co. raised its stake in Edison International by 0.9% in the second quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider's stock worth $1,108,000 after buying an additional 132 shares in the last quarter. TIAA Trust National Association lifted its stake in shares of Edison International by 2.0% in the 2nd quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider's stock valued at $483,000 after purchasing an additional 134 shares during the period. Farmers & Merchants Investments Inc. boosted its position in shares of Edison International by 53.8% during the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider's stock valued at $29,000 after purchasing an additional 140 shares in the last quarter. Asset Dedication LLC grew its stake in Edison International by 37.5% in the second quarter. Asset Dedication LLC now owns 550 shares of the utilities provider's stock worth $39,000 after purchasing an additional 150 shares during the period. Finally, Carson Advisory Inc. lifted its position in Edison International by 0.3% during the first quarter. Carson Advisory Inc. now owns 54,625 shares of the utilities provider's stock valued at $3,864,000 after buying an additional 152 shares during the period. Institutional investors own 88.95% of the company's stock.

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.