Citigroup Reaffirms Buy Rating for Edison International (NYSE:EIX)

Citigroup restated their buy rating on shares of Edison International (NYSE:EIX) in a report published on Wednesday, The Fly reports. The brokerage currently has a $81.00 price objective on the utilities provider’s stock, up from their previous price objective of $78.00.

EIX has been the topic of a number of other research reports. SunTrust Banks raised their target price on Edison International from $80.00 to $81.00 and gave the company a buy rating in a report on Monday, August 12th. Barclays raised their target price on Edison International from $72.00 to $73.00 and gave the company an equal weight rating in a report on Wednesday, September 4th. UBS Group raised Edison International from a neutral rating to a buy rating and raised their target price for the company from $67.00 to $72.00 in a report on Tuesday, June 4th. Morgan Stanley raised their target price on Edison International from $70.00 to $72.00 and gave the company an equal weight rating in a report on Friday, August 16th. Finally, TheStreet raised Edison International from a c+ rating to a b- rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. Edison International currently has a consensus rating of Hold and an average target price of $73.45.

Shares of NYSE:EIX opened at $72.74 on Wednesday. The company has a market capitalization of $25.70 billion, a P/E ratio of 15.42, a P/E/G ratio of 2.96 and a beta of 0.11. Edison International has a 1 year low of $45.50 and a 1 year high of $75.39. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.69 and a quick ratio of 0.64. The business’s 50 day simple moving average is $72.64 and its 200 day simple moving average is $66.12.



Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.43. The business had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $3.15 billion. Edison International had a positive return on equity of 12.15% and a negative net margin of 1.21%. During the same quarter in the prior year, the business posted $0.85 earnings per share. On average, sell-side analysts anticipate that Edison International will post 4.67 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a $0.613 dividend. This represents a $2.45 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date is Friday, September 27th. This is an increase from Edison International’s previous quarterly dividend of $0.61. Edison International’s dividend payout ratio (DPR) is currently 59.04%.

Several hedge funds have recently modified their holdings of EIX. Price T Rowe Associates Inc. MD boosted its holdings in shares of Edison International by 111.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 8,763,168 shares of the utilities provider’s stock valued at $590,725,000 after purchasing an additional 4,625,141 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Edison International by 87.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,420,925 shares of the utilities provider’s stock valued at $298,013,000 after acquiring an additional 2,059,350 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in shares of Edison International by 1,931.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,052,784 shares of the utilities provider’s stock valued at $138,377,000 after acquiring an additional 1,951,745 shares during the last quarter. Steadfast Capital Management LP bought a new position in shares of Edison International in the 2nd quarter valued at $90,266,000. Finally, Pictet Asset Management Ltd. lifted its stake in shares of Edison International by 62.9% in the 2nd 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 last quarter. 77.85% 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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