Edison International (EIX) PT Lowered to $71.00 at Morgan Stanley

Edison International (NYSE:EIX) had its target price lowered by Morgan Stanley from $76.00 to $71.00 in a research report sent to investors on Tuesday morning. The brokerage currently has an equal weight rating on the utilities provider’s stock.

Several other equities analysts also recently commented on the stock. SunTrust Banks reissued a buy rating and set a $79.00 target price on shares of Edison International in a research report on Tuesday, December 26th. Zacks Investment Research downgraded shares of Edison International from a hold rating to a sell rating in a research report on Tuesday, January 2nd. Edward Jones downgraded shares of Edison International from a hold rating to a sell rating in a research report on Wednesday, December 27th. JPMorgan Chase & Co. started coverage on shares of Edison International in a research report on Friday, January 12th. They set a neutral rating and a $67.00 target price on the stock. Finally, Goldman Sachs Group set a $70.00 target price on shares of Edison International and gave the stock a hold rating in a research report on Friday, December 15th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $77.21.

Edison International (EIX) opened at $60.09 on Tuesday. The company has a current ratio of 0.51, a quick ratio of 0.47 and a debt-to-equity ratio of 0.80. The company has a market cap of $19,580.00, a price-to-earnings ratio of 13.72, a price-to-earnings-growth ratio of 2.18 and a beta of 0.17. Edison International has a 1 year low of $57.63 and a 1 year high of $83.38.

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th were issued a dividend of $0.605 per share. This represents a $2.42 dividend on an annualized basis and a yield of 4.03%. This is a boost from Edison International’s previous quarterly dividend of $0.54. The ex-dividend date was Thursday, December 28th. Edison International’s dividend payout ratio is 55.25%.

A number of hedge funds have recently added to or reduced their stakes in EIX. Dimensional Fund Advisors LP boosted its holdings in Edison International by 0.9% during the second quarter. Dimensional Fund Advisors LP now owns 589,722 shares of the utilities provider’s stock valued at $46,110,000 after acquiring an additional 5,216 shares during the period. OxFORD Asset Management LLP bought a new stake in Edison International during the second quarter valued at about $204,000. Shelton Capital Management bought a new stake in Edison International during the second quarter valued at about $206,000. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Edison International by 26.8% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 28,748 shares of the utilities provider’s stock valued at $2,248,000 after buying an additional 6,084 shares during the period. Finally, Cetera Investment Advisers bought a new stake in shares of Edison International in the second quarter valued at about $425,000. Institutional investors own 79.43% 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.

Analyst Recommendations for Edison International (NYSE:EIX)

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