ValuEngine Upgrades Edison International (EIX) to “Hold”

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

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

Shares of NYSE EIX opened at $58.51 on Friday. Edison International has a 12-month low of $45.50 and a 12-month high of $73.31. The stock has a market capitalization of $19.06 billion, a price-to-earnings ratio of 13.00, a price-to-earnings-growth ratio of 2.38 and a beta of -0.01. 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 announced its quarterly earnings results on Tuesday, October 30th. The utilities provider reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.25. Edison International had a net margin of 4.47% and a return on equity of 10.61%. The company had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the prior year, the firm earned $1.43 earnings per share. The company’s revenue for the quarter was up 16.3% compared to the same quarter last year. On average, equities analysts predict that Edison International will post 4.14 EPS 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 paid a dividend of $0.6125 per share. This is an increase from Edison International’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Friday, December 28th. This represents a $2.45 annualized dividend and a dividend yield of 4.19%. Edison International’s dividend payout ratio is presently 53.78%.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Reilly Financial Advisors LLC increased its position in Edison International by 18.6% during the third quarter. Reilly Financial Advisors LLC now owns 4,567 shares of the utilities provider’s stock worth $309,000 after purchasing an additional 717 shares during the last quarter. Strs Ohio increased its position in Edison International by 1.4% during the third quarter. Strs Ohio now owns 59,183 shares of the utilities provider’s stock worth $4,005,000 after purchasing an additional 832 shares during the last quarter. Nissay Asset Management Corp Japan ADV increased its position in Edison International by 3.6% during the third quarter. Nissay Asset Management Corp Japan ADV now owns 24,087 shares of the utilities provider’s stock worth $1,630,000 after purchasing an additional 834 shares during the last quarter. WEALTHFRONT Corp increased its position in Edison International by 6.0% during the third quarter. WEALTHFRONT Corp now owns 16,506 shares of the utilities provider’s stock worth $1,117,000 after purchasing an additional 927 shares during the last quarter. Finally, Gradient Investments LLC increased its position in Edison International by 94.2% during the third quarter. Gradient Investments LLC now owns 2,039 shares of the utilities provider’s stock worth $138,000 after purchasing an additional 989 shares during the last quarter. 83.35% of the stock is currently owned by institutional investors and hedge funds.

About Edison International

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.

See Also: Depreciation

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

Analyst Recommendations for Edison International (NYSE:EIX)

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