Edison International (EIX) Cut to Hold at ValuEngine

ValuEngine downgraded shares of Edison International (NYSE:EIX) from a buy rating to a hold rating in a report released on Friday.

Several other research analysts also recently issued reports on EIX. Mizuho reaffirmed a buy rating and issued a $86.00 price objective on shares of Edison International in a research note on Monday, October 9th. Citigroup upped their price objective on Edison International from $84.00 to $87.00 and gave the company a neutral rating in a research note on Tuesday, October 17th. Bank of America reaffirmed a buy rating and issued a $86.00 price objective on shares of Edison International in a research note on Tuesday, October 24th. SunTrust Banks reaffirmed a buy rating and issued a $89.00 price objective on shares of Edison International in a research note on Monday, October 30th. Finally, Deutsche Bank lowered their price objective on Edison International to $78.00 and set a hold rating for the company in a research note on Wednesday, December 6th. 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 company’s stock. The company has an average rating of Hold and a consensus target price of $78.57.

Edison International (EIX) opened at $60.51 on Friday. Edison International has a 52 week low of $60.33 and a 52 week high of $83.38. The company has a quick ratio of 0.47, a current ratio of 0.51 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $19,710.00, a P/E ratio of 13.82, a PEG ratio of 2.27 and a beta of 0.17.

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Friday, December 29th were issued a $0.605 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This is a boost from Edison International’s previous quarterly dividend of $0.54. This represents a $2.42 annualized dividend and a yield of 4.00%. Edison International’s dividend payout ratio is presently 55.25%.

In related news, insider Ronald L. Litzinger sold 224,718 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now directly owns 14,121 shares in the company, valued at $1,157,922. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.41% of the company’s stock.

A number of hedge funds have recently made changes to their positions in EIX. Maple Brown Abbott Ltd bought a new stake in Edison International in the fourth quarter valued at approximately $1,192,752,000. USS Investment Management Ltd bought a new stake in Edison International in the third quarter valued at approximately $137,776,000. Capital International Investors bought a new stake in Edison International in the third quarter valued at approximately $95,783,000. Janus Henderson Group PLC boosted its holdings in Edison International by 2,522.5% in the second quarter. Janus Henderson Group PLC now owns 1,234,840 shares of the utilities provider’s stock valued at $96,552,000 after acquiring an additional 1,187,754 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in Edison International by 30.3% in the third 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. Institutional investors and hedge funds own 80.09% of the company’s stock.

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Edison International Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Edison International (NYSE:EIX)

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