Edison International (EIX) Given New $82.00 Price Target at Morgan Stanley

Edison International (NYSE:EIX) had its price objective reduced by Morgan Stanley from $96.00 to $82.00 in a research report report published on Wednesday morning. Morgan Stanley currently has an equal weight rating on the utilities provider’s stock.

Several other equities analysts have also commented on EIX. Jefferies Group restated a buy rating on shares of Edison International in a research note on Thursday, August 17th. BMO Capital Markets restated a buy rating and set a $85.00 price target on shares of Edison International in a research note on Thursday, August 17th. BidaskClub upgraded Edison International from a sell rating to a hold rating in a research note on Tuesday, August 22nd. Mizuho restated a buy rating and set a $87.00 price target (up previously from $84.00) on shares of Edison International in a research note on Wednesday, August 23rd. Finally, Royal Bank of Canada restated a buy rating and set a $84.00 price target on shares of Edison International in a research note on Sunday, September 17th. Eleven analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has a consensus rating of Hold and an average price target of $83.77.

Edison International (EIX) traded up $1.22 during trading hours on Wednesday, hitting $69.80. The stock had a trading volume of 4,615,700 shares, compared to its average volume of 1,875,065. The company has a market capitalization of $22,305.03, a P/E ratio of 15.60, a price-to-earnings-growth ratio of 2.48 and a beta of 0.23. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.47 and a current ratio of 0.51. Edison International has a fifty-two week low of $67.28 and a fifty-two week high of $83.38.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Monday, October 30th. The utilities provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.33 by $0.10. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.53 billion. Edison International had a return on equity of 10.84% and a net margin of 13.18%. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.29 earnings per share. analysts forecast that Edison International will post 4.33 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th will be paid a $0.605 dividend. This represents a $2.42 annualized dividend and a yield of 3.47%. The ex-dividend date is Thursday, December 28th. This is a positive change from Edison International’s previous quarterly dividend of $0.54. Edison International’s payout ratio is 48.98%.

In other Edison International news, insider Ronald L. Litzinger sold 224,718 shares of Edison International stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $82.00, for a total value of $18,426,876.00. Following the transaction, the insider now owns 14,121 shares in the company, valued at $1,157,922. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.41% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Steward Partners Investment Advisory LLC acquired a new stake in Edison International in the third quarter worth about $557,000. Americafirst Capital Management LLC boosted its holdings in Edison International by 190.4% in the third quarter. Americafirst Capital Management LLC now owns 15,357 shares of the utilities provider’s stock worth $1,185,000 after acquiring an additional 10,069 shares in the last quarter. IFM Investors Pty Ltd acquired a new stake in Edison International in the third quarter worth about $714,000. Neuberger Berman Group LLC boosted its holdings in Edison International by 5.3% in the third quarter. Neuberger Berman Group LLC now owns 292,811 shares of the utilities provider’s stock worth $22,596,000 after acquiring an additional 14,740 shares in the last quarter. Finally, California Public Employees Retirement System boosted its holdings in Edison International by 5.9% in the third quarter. California Public Employees Retirement System now owns 933,358 shares of the utilities provider’s stock worth $72,027,000 after acquiring an additional 51,716 shares in the last quarter. 81.36% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Edison International (NYSE:EIX)

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