Edison International (NYSE:EIX) Price Target Raised to $66.00

Edison International (NYSE:EIXGet Rating) had its price target lifted by Morgan Stanley from $58.00 to $66.00 in a report issued on Wednesday, Marketbeat reports. Morgan Stanley currently has an equal weight rating on the utilities provider’s stock.

Other equities analysts have also issued reports about the company. Royal Bank of Canada increased their price objective on Edison International from $73.00 to $82.00 and gave the company an outperform rating in a report on Thursday, April 14th. StockNews.com started coverage on Edison International in a report on Thursday, March 31st. They set a hold rating for the company. Wells Fargo & Company increased their price objective on Edison International from $70.00 to $79.00 and gave the company an overweight rating in a report on Wednesday, March 30th. Finally, Argus raised their price target on Edison International from $68.00 to $73.00 and gave the stock a buy rating in a report on Wednesday, December 29th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Buy and an average price target of $71.57.

Shares of EIX opened at $71.62 on Wednesday. The company has a current ratio of 0.64, a quick ratio of 0.59 and a debt-to-equity ratio of 1.53. The company has a market capitalization of $27.27 billion, a price-to-earnings ratio of 35.99, a PEG ratio of 4.11 and a beta of 0.68. The stock has a 50 day moving average of $66.82 and a 200 day moving average of $64.71. Edison International has a 12 month low of $54.14 and a 12 month high of $73.32.

Edison International (NYSE:EIXGet Rating) last announced its quarterly earnings data on Thursday, February 24th. The utilities provider reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.11. Edison International had a return on equity of 11.73% and a net margin of 5.88%. The business had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.23 billion. During the same period in the prior year, the company earned $1.19 earnings per share. Edison International’s revenue was up 5.5% compared to the same quarter last year. As a group, equities research analysts predict that Edison International will post 4.43 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Saturday, April 30th. Stockholders of record on Thursday, March 31st will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date is Wednesday, March 30th. Edison International’s payout ratio is currently 140.70%.

Several institutional investors have recently bought and sold shares of EIX. Wealth Enhancement Advisory Services LLC bought a new stake in Edison International during the third quarter valued at $1,296,000. Teacher Retirement System of Texas boosted its stake in Edison International by 22.3% during the third quarter. Teacher Retirement System of Texas now owns 60,708 shares of the utilities provider’s stock valued at $3,367,000 after buying an additional 11,087 shares during the period. Hartford Investment Management Co. boosted its stake in Edison International by 8.5% during the fourth quarter. Hartford Investment Management Co. now owns 38,651 shares of the utilities provider’s stock valued at $2,638,000 after buying an additional 3,035 shares during the period. LPL Financial LLC boosted its stake in Edison International by 2.1% during the third quarter. LPL Financial LLC now owns 112,321 shares of the utilities provider’s stock valued at $6,230,000 after buying an additional 2,321 shares during the period. Finally, Ossiam boosted its stake in Edison International by 3.2% during the third quarter. Ossiam now owns 22,447 shares of the utilities provider’s stock valued at $1,245,000 after buying an additional 702 shares during the period. 84.74% of the stock is owned by hedge funds and other institutional investors.

Edison International Company Profile (Get Rating)

Edison International, through its subsidiaries, generates and distributes electric power. It delivers electricity to 15 million residential, commercial, industrial, public authorities, agricultural, and other customers across Southern, Central, and Coastal California. The company also provides energy solutions to commercial and industrial users.

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