Edison International (NYSE:EIX) Hits New 12-Month High at $76.93

Shares of Edison International (NYSE:EIX) hit a new 52-week high on Wednesday . The company traded as high as $76.93 and last traded at $76.44, with a volume of 45366 shares trading hands. The stock had previously closed at $75.03.

Several research analysts recently weighed in on the company. Citigroup reissued a “buy” rating and set a $81.00 price target (up from $78.00) on shares of Edison International in a research report on Wednesday, September 18th. Zacks Investment Research lowered Edison International from a “buy” rating to a “hold” rating and set a $78.00 price objective for the company. in a research report on Tuesday, December 17th. Mizuho lowered their target price on Edison International from $86.00 to $84.00 and set a “buy” rating on the stock in a research note on Friday, October 18th. TheStreet downgraded Edison International from a “b-” rating to a “c” rating in a report on Tuesday, November 26th. Finally, ValuEngine raised shares of Edison International from a “strong sell” rating to a “sell” rating in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $78.20.

The business has a 50-day moving average of $73.38 and a 200-day moving average of $71.53. The company has a quick ratio of 0.72, a current ratio of 0.78 and a debt-to-equity ratio of 1.11. The stock has a market cap of $26.98 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 3.04 and a beta of 0.11.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.50 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.03). The firm had revenue of $3.74 billion during the quarter, compared to analyst estimates of $4.28 billion. Edison International had a positive return on equity of 11.98% and a negative net margin of 1.60%. During the same period in the previous year, the company earned $1.57 earnings per share. Equities analysts anticipate that Edison International will post 4.75 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.6375 dividend. This is a boost from Edison International’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Monday, December 30th. This represents a $2.55 annualized dividend and a dividend yield of 3.31%. Edison International’s payout ratio is presently 61.45%.

A number of large investors have recently added to or reduced their stakes in EIX. KCS Wealth Advisory boosted its position in Edison International by 1.1% during the fourth quarter. KCS Wealth Advisory now owns 16,234 shares of the utilities provider’s stock worth $1,224,000 after purchasing an additional 171 shares during the period. Raymond James Trust N.A. raised its position in shares of Edison International by 21.0% in the fourth quarter. Raymond James Trust N.A. now owns 7,022 shares of the utilities provider’s stock valued at $529,000 after purchasing an additional 1,221 shares during the period. First Hawaiian Bank lifted its stake in shares of Edison International by 5.9% in the fourth quarter. First Hawaiian Bank now owns 5,151 shares of the utilities provider’s stock worth $389,000 after buying an additional 288 shares during the last quarter. DNB Asset Management AS lifted its stake in shares of Edison International by 6.4% in the fourth quarter. DNB Asset Management AS now owns 56,451 shares of the utilities provider’s stock worth $4,257,000 after buying an additional 3,373 shares during the last quarter. Finally, Trilogy Capital Inc. boosted its holdings in shares of Edison International by 2.7% during the 4th quarter. Trilogy Capital Inc. now owns 15,843 shares of the utilities provider’s stock worth $1,202,000 after buying an additional 414 shares during the period. Hedge funds and other institutional investors own 87.25% of the company’s stock.

About Edison International (NYSE:EIX)

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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