Edison International (NYSE:EIX) has received a consensus recommendation of “Hold” from the thirteen ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $78.70.
A number of equities analysts recently commented on EIX shares. Zacks Investment Research downgraded Edison International from a “buy” rating to a “hold” rating and set a $78.00 price target for the company. in a research note on Tuesday, December 17th. SunTrust Banks upped their price objective on Edison International from $83.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Royal Bank of Canada increased their target price on Edison International to $79.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. They noted that the move was a valuation call. Mizuho decreased their target price on Edison International from $86.00 to $84.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Finally, Bank of America set a $73.00 price target on Edison International and gave the company a “hold” rating in a report on Friday, November 1st.
EIX stock traded down $0.77 during mid-day trading on Tuesday, hitting $76.92. 1,535,097 shares of the company were exchanged, compared to its average volume of 1,516,462. The company has a market capitalization of $27.58 billion, a PE ratio of -77.70, a price-to-earnings-growth ratio of 3.16 and a beta of 0.11. The company has a current ratio of 0.78, a quick ratio of 0.72 and a debt-to-equity ratio of 1.11. Edison International has a twelve month low of $54.25 and a twelve month high of $78.49. The firm has a fifty day simple moving average of $74.76 and a 200 day simple moving average of $72.03.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.6375 per share. This represents a $2.55 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Monday, December 30th. This is an increase from Edison International’s previous quarterly dividend of $0.61. Edison International’s dividend payout ratio is currently 61.45%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in EIX. Pictet Asset Management Ltd. boosted its stake in Edison International by 62.9% in the second quarter. Pictet Asset Management Ltd. now owns 2,504,575 shares of the utilities provider’s stock valued at $168,833,000 after acquiring an additional 966,848 shares during the period. Private Advisor Group LLC lifted its holdings in shares of Edison International by 12.0% in the 2nd quarter. Private Advisor Group LLC now owns 11,866 shares of the utilities provider’s stock worth $797,000 after purchasing an additional 1,276 shares during the last quarter. Marshall Wace North America L.P. boosted its position in Edison International by 736.0% during the 2nd quarter. Marshall Wace North America L.P. now owns 65,091 shares of the utilities provider’s stock valued at $4,388,000 after purchasing an additional 57,305 shares during the period. Man Group plc acquired a new position in Edison International during the 2nd quarter valued at approximately $6,599,000. Finally, Paloma Partners Management Co acquired a new position in Edison International during the 2nd quarter valued at approximately $453,000. Hedge funds and other institutional investors own 87.19% of the company’s stock.
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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