Edison International (NYSE:EIX) declared a quarterly dividend on Thursday, December 7th, RTT News reports. Shareholders of record on Friday, December 29th will be paid a dividend of 0.605 per share by the utilities provider on Wednesday, January 31st. This represents a $2.42 annualized dividend and a yield of 3.37%. This is a boost from Edison International’s previous quarterly dividend of $0.54.
Edison International has raised its dividend payment by an average of 12.5% per year over the last three years and has raised its dividend every year for the last 12 years. Edison International has a payout ratio of 50.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Edison International to earn $4.29 per share next year, which means the company should continue to be able to cover its $2.17 annual dividend with an expected future payout ratio of 50.6%.
Edison International (NYSE EIX) opened at $71.77 on Friday. Edison International has a 12 month low of $67.80 and a 12 month high of $83.38. The company has a quick ratio of 0.47, a current ratio of 0.51 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $22,389.75, a P/E ratio of 15.65, a price-to-earnings-growth ratio of 2.49 and a beta of 0.23.
Edison International (NYSE:EIX) last issued its quarterly earnings results on Monday, October 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.10. Edison International had a return on equity of 10.84% and a net margin of 13.18%. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.53 billion. During the same period in the previous year, the firm earned $1.29 earnings per share. The company’s revenue was down 2.5% compared to the same quarter last year. equities research analysts anticipate that Edison International will post 4.33 EPS for the current year.
Several equities research analysts have recently commented on the company. ValuEngine upgraded Edison International from a “hold” rating to a “buy” rating in a report on Wednesday, November 15th. Royal Bank Of Canada restated a “buy” rating and set a $84.00 price objective on shares of Edison International in a report on Sunday, September 17th. Morgan Stanley boosted their price objective on Edison International from $90.00 to $92.00 and gave the company an “equal weight” rating in a report on Friday, September 8th. Mizuho restated a “buy” rating and set a $87.00 price objective (up previously from $84.00) on shares of Edison International in a report on Wednesday, August 23rd. Finally, Bank of America restated a “buy” rating and set a $86.00 price objective on shares of Edison International in a report on Tuesday, October 24th. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $84.54.
In related news, insider Ronald L. Litzinger sold 224,718 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $82.00, for a total transaction of $18,426,876.00. Following the completion of the sale, the insider now owns 14,121 shares in the company, valued at $1,157,922. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.41% of the company’s stock.
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About Edison International
Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.
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