Mizuho Lowers Edison International (EIX) to Neutral

Mizuho lowered shares of Edison International (NYSE:EIX) from a buy rating to a neutral rating in a research report released on Wednesday morning.

Several other analysts have also weighed in on EIX. Morgan Stanley increased their price target on Edison International from $86.00 to $90.00 and gave the company an equal weight rating in a report on Thursday, August 10th. Jefferies Group upgraded Edison International from a hold rating to a buy rating and increased their price target for the company from $85.00 to $90.00 in a report on Friday, August 11th. BMO Capital Markets restated a buy rating and set a $85.00 price target on shares of Edison International in a report on Thursday, August 17th. BidaskClub upgraded Edison International from a sell rating to a hold rating in a report on Tuesday, August 22nd. Finally, Royal Bank Of Canada restated a buy rating and set a $84.00 price target on shares of Edison International in a report on Sunday, September 17th. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $84.54.

Shares of Edison International (EIX) traded up $0.03 on Wednesday, hitting $71.80. The stock had a trading volume of 5,814,303 shares, compared to its average volume of 2,900,058. The stock has a market cap of $23,383.47, a PE ratio of 16.35, a price-to-earnings-growth ratio of 2.60 and a beta of 0.23. Edison International has a twelve month low of $67.80 and a twelve month 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.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Monday, October 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.10. The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.53 billion. Edison International had a return on equity of 10.84% and a net margin of 13.18%. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.29 EPS. analysts expect that Edison International will post 4.33 earnings per share for the current year.

The firm 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 is a positive change from Edison International’s previous quarterly dividend of $0.54. The ex-dividend date is Thursday, December 28th. This represents a $2.42 dividend on an annualized basis and a yield of 3.37%. Edison International’s dividend payout ratio (DPR) is presently 48.98%.

In other Edison International news, insider Ronald L. Litzinger sold 224,718 shares of the stock in a transaction 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 owns 14,121 shares in the company, valued at $1,157,922. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.41% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Wetherby Asset Management Inc. grew its position in shares of Edison International by 0.3% during the 2nd quarter. Wetherby Asset Management Inc. now owns 3,824 shares of the utilities provider’s stock worth $299,000 after buying an additional 12 shares in the last quarter. HL Financial Services LLC grew its position in shares of Edison International by 2.7% during the 2nd quarter. HL Financial Services LLC now owns 2,681 shares of the utilities provider’s stock worth $210,000 after buying an additional 70 shares in the last quarter. Cutter & CO Brokerage Inc. grew its position in shares of Edison International by 1.6% during the 2nd quarter. Cutter & CO Brokerage Inc. now owns 4,635 shares of the utilities provider’s stock worth $362,000 after buying an additional 75 shares in the last quarter. Veritable L.P. grew its position in shares of Edison International by 0.8% during the 2nd quarter. Veritable L.P. now owns 10,853 shares of the utilities provider’s stock worth $849,000 after buying an additional 84 shares in the last quarter. Finally, Stratos Wealth Partners LTD. grew its position in shares of Edison International by 2.7% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 3,717 shares of the utilities provider’s stock worth $291,000 after buying an additional 97 shares in the last quarter. Institutional investors and hedge funds own 81.36% 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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