Edison International (NYSE:EIX – Free Report) had its price target reduced by Morgan Stanley from $56.00 to $51.00 in a research note released on Wednesday, Benzinga reports. Morgan Stanley currently has an underweight rating on the utilities provider’s stock.
EIX has been the subject of a number of other reports. LADENBURG THALM/SH SH upgraded shares of Edison International from a sell rating to a neutral rating in a research note on Tuesday, August 15th. Guggenheim lowered shares of Edison International from a buy rating to a neutral rating in a research note on Friday, July 7th. Mizuho upgraded shares of Edison International from a neutral rating to a buy rating and lifted their price target for the stock from $73.00 to $75.00 in a research note on Tuesday. StockNews.com began coverage on shares of Edison International in a research note on Thursday, August 17th. They issued a hold rating for the company. Finally, Barclays began coverage on shares of Edison International in a research report on Wednesday. They issued an equal weight rating and a $68.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $73.00.
Check Out Our Latest Stock Analysis on EIX
Edison International Trading Up 0.5 %
Edison International (NYSE:EIX – Get Free Report) last released its quarterly earnings data on Thursday, July 27th. The utilities provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. The business had revenue of $3.96 billion during the quarter, compared to analyst estimates of $4.28 billion. Edison International had a net margin of 6.81% and a return on equity of 12.69%. Edison International’s revenue was down 1.1% compared to the same quarter last year. During the same period last year, the business earned $0.94 EPS. As a group, sell-side analysts expect that Edison International will post 4.73 EPS for the current fiscal year.
Edison International Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Wednesday, July 5th were paid a dividend of $0.738 per share. This represents a $2.95 annualized dividend and a yield of 4.22%. This is a boost from Edison International’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Monday, July 3rd. Edison International’s dividend payout ratio (DPR) is presently 118.95%.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the company. OLD Second National Bank of Aurora purchased a new position in Edison International during the 4th quarter valued at approximately $25,000. Fiduciary Alliance LLC purchased a new position in shares of Edison International in the second quarter valued at $25,000. Capital Analysts LLC increased its position in Edison International by 64.0% in the first quarter. Capital Analysts LLC now owns 438 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 171 shares during the last quarter. Armstrong Advisory Group Inc. bought a new stake in Edison International in the second quarter worth $36,000. Finally, Ancora Advisors LLC purchased a new stake in Edison International during the first quarter valued at $41,000. Hedge funds and other institutional investors own 88.83% of the company’s stock.
Edison International Company Profile
Edison International, through its subsidiaries, generates and distributes electric power. The company supplies electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors. It also provides decarbonization and energy solutions to commercial, institutional, and industrial customers in North America and Europe.
Featured Stories
- Five stocks we like better than Edison International
- Investing in the High PE Growth Stocks
- Bear Market vs Recession: What Are the Differences?
- How to Invest in Semiconductors
- 7 Best AI Mutual Funds (and ETFs) to Sweep the AI Craze
- Upcoming IPO Stock Lockup Period, Explained
- Auto Parts Stocks Shift Gears: Which is the Right One to Buy?
Receive News & Ratings for Edison International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edison International and related companies with MarketBeat.com's FREE daily email newsletter.
