Shares of Edison International (NYSE:EIX) have received an average recommendation of “Hold” from the eighteen brokerages that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $74.45.
Several equities analysts recently issued reports on EIX shares. Citigroup set a $87.00 price target on shares of Edison International and gave the company a “hold” rating in a research report on Tuesday, December 12th. Zacks Investment Research upgraded shares of Edison International from a “sell” rating to a “hold” rating in a research report on Friday, January 19th. ValuEngine upgraded shares of Edison International from a “hold” rating to a “buy” rating in a research report on Wednesday, November 15th. SunTrust Banks reiterated a “buy” rating and set a $89.00 price target on shares of Edison International in a research report on Monday, October 30th. Finally, Edward Jones cut shares of Edison International from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th.
Shares of Edison International (NYSE EIX) traded down $1.13 during midday trading on Tuesday, hitting $59.92. 553,478 shares of the company traded hands, compared to its average volume of 3,620,184. Edison International has a one year low of $57.63 and a one year high of $83.38. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.51 and a quick ratio of 0.47. The stock has a market capitalization of $19,520.00, a PE ratio of 13.68, a P/E/G ratio of 2.25 and a beta of 0.17.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Friday, December 29th were paid a dividend of $0.605 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $2.42 annualized dividend and a yield of 4.04%. This is a positive change from Edison International’s previous quarterly dividend of $0.54. Edison International’s payout ratio is presently 55.25%.
A number of large investors have recently bought and sold shares of the stock. Capital International Investors bought a new position in Edison International during the third quarter valued at $95,783,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Edison International during the 3rd quarter valued at about $557,000. Magnetar Financial LLC acquired a new position in shares of Edison International during the 3rd quarter valued at about $256,000. Wells Fargo & Company MN boosted its position in shares of Edison International by 30.3% during the 3rd quarter. Wells Fargo & Company MN now owns 2,572,937 shares of the utilities provider’s stock valued at $198,553,000 after acquiring an additional 598,402 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its position in shares of Edison International by 68.7% during the 3rd quarter. Teacher Retirement System of Texas now owns 185,333 shares of the utilities provider’s stock valued at $14,302,000 after acquiring an additional 75,473 shares during the last quarter. 80.57% of the stock is currently owned by institutional investors and hedge funds.
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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