Edison International (EIX) Upgraded to “Hold” by ValuEngine

ValuEngine upgraded shares of Edison International (NYSE:EIX) from a sell rating to a hold rating in a research report released on Friday morning.

Other research analysts also recently issued reports about the stock. Citigroup upgraded shares of Edison International from a neutral rating to a buy rating and reduced their price objective for the company from $72.00 to $59.00 in a research note on Friday, November 16th. SunTrust Banks reduced their price objective on shares of Edison International to $75.00 and set a buy rating on the stock in a research note on Thursday, November 15th. Zacks Investment Research restated a buy rating and issued a $76.00 price target on shares of Edison International in a research report on Tuesday, November 13th. Argus raised their price target on shares of Edison International to $80.00 and gave the stock a buy rating in a research report on Thursday, October 11th. They noted that the move was a valuation call. Finally, Mizuho upgraded shares of Edison International from a neutral rating to a buy rating and reduced their price target for the stock from $62.00 to $57.50 in a research report on Wednesday, November 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. The stock has an average rating of Hold and an average target price of $69.96.

EIX traded up $0.97 during trading hours on Friday, reaching $58.51. 1,824,324 shares of the stock traded hands, compared to its average volume of 4,803,189. The firm has a market cap of $18.75 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 2.34 and a beta of -0.01. Edison International has a fifty-two week low of $45.50 and a fifty-two week high of $73.31. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 1.02.

Edison International (NYSE:EIX) last released its quarterly earnings results on Tuesday, October 30th. The utilities provider reported $1.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.25. The business had revenue of $4.27 billion during the quarter, compared to analyst estimates of $3.47 billion. Edison International had a net margin of 4.47% and a return on equity of 10.61%. The business’s revenue was up 16.3% on a year-over-year basis. During the same period last year, the business earned $1.43 EPS. On average, analysts forecast that Edison International will post 4.14 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 31st. Investors of record on Monday, December 31st will be given a $0.6125 dividend. The ex-dividend date of this dividend is Friday, December 28th. This is an increase from Edison International’s previous quarterly dividend of $0.61. This represents a $2.45 annualized dividend and a yield of 4.19%. Edison International’s dividend payout ratio (DPR) is currently 53.78%.

Institutional investors have recently added to or reduced their stakes in the business. Covalis Capital LLP acquired a new position in Edison International during the 2nd quarter valued at about $11,857,000. Nisa Investment Advisors LLC grew its stake in shares of Edison International by 17.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 37,125 shares of the utilities provider’s stock worth $2,513,000 after purchasing an additional 5,385 shares during the last quarter. AMP Capital Investors Ltd grew its stake in shares of Edison International by 16.4% in the 2nd quarter. AMP Capital Investors Ltd now owns 673,119 shares of the utilities provider’s stock worth $42,588,000 after purchasing an additional 94,850 shares during the last quarter. KCS Wealth Advisory grew its stake in shares of Edison International by 15.8% in the 3rd quarter. KCS Wealth Advisory now owns 13,739 shares of the utilities provider’s stock worth $930,000 after purchasing an additional 1,872 shares during the last quarter. Finally, Commonwealth Bank of Australia grew its stake in shares of Edison International by 35.3% in the 2nd quarter. Commonwealth Bank of Australia now owns 49,681 shares of the utilities provider’s stock worth $3,136,000 after purchasing an additional 12,971 shares during the last quarter. 83.35% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Company Profile

Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.

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Analyst Recommendations for Edison International (NYSE:EIX)

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