Edison International (NYSE:EIX) PT Lowered to $70.00

Edison International (NYSE:EIX) had its target price decreased by Wells Fargo & Company from $72.00 to $70.00 in a report released on Friday morning, Analyst Ratings Network reports. Wells Fargo & Company currently has an overweight rating on the utilities provider’s stock.

A number of other equities research analysts have also issued reports on EIX. Mizuho lifted their target price on shares of Edison International from $68.00 to $77.00 and gave the company a buy rating in a research note on Friday, June 11th. Bank of America lowered shares of Edison International from a buy rating to a neutral rating and set a $59.00 target price for the company. in a research note on Tuesday, July 13th. Barclays lifted their price objective on shares of Edison International from $64.00 to $65.00 and gave the company an equal weight rating in a research note on Tuesday, May 25th. Morgan Stanley reduced their price objective on shares of Edison International from $72.00 to $60.00 and set an equal weight rating for the company in a research note on Thursday, September 9th. Finally, TheStreet raised shares of Edison International from a c rating to a b- rating in a research note on Thursday, July 29th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $65.57.

Shares of NYSE:EIX opened at $57.59 on Friday. The firm has a fifty day moving average of $57.35 and a two-hundred day moving average of $57.94. The firm has a market capitalization of $21.87 billion, a P/E ratio of 26.79, a price-to-earnings-growth ratio of 3.81 and a beta of 0.59. Edison International has a 12-month low of $48.47 and a 12-month high of $66.68. The company has a quick ratio of 0.58, a current ratio of 0.63 and a debt-to-equity ratio of 1.42.

Edison International (NYSE:EIX) last issued its earnings results on Thursday, July 29th. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.05). The company had revenue of $3.32 billion for the quarter, compared to analyst estimates of $3.09 billion. Edison International had a net margin of 6.83% and a return on equity of 11.69%. During the same period last year, the business earned $1.00 EPS. Equities research analysts expect that Edison International will post 4.48 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Sunday, October 31st. Investors of record on Thursday, September 30th will be issued a $0.6625 dividend. The ex-dividend date of this dividend is Wednesday, September 29th. This represents a $2.65 annualized dividend and a yield of 4.60%. Edison International’s dividend payout ratio (DPR) is presently 58.63%.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Camden Capital LLC bought a new position in Edison International in the 1st quarter worth $37,000. CSat Investment Advisory L.P. raised its holdings in Edison International by 63.4% in the 1st quarter. CSat Investment Advisory L.P. now owns 639 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 248 shares during the period. E Fund Management Co. Ltd. bought a new position in Edison International in the 1st quarter worth $39,000. Montag A & Associates Inc. raised its holdings in Edison International by 263.2% in the 2nd quarter. Montag A & Associates Inc. now owns 690 shares of the utilities provider’s stock worth $40,000 after acquiring an additional 500 shares during the period. Finally, Eagle Bay Advisors LLC bought a new position in Edison International in the 2nd quarter worth $43,000. Hedge funds and other institutional investors own 86.85% of the company’s stock.

About Edison International

Edison International is a renewable energy company, which through its subsidiaries, generates and distributes electric power, and invests in energy services and technologies. The company was founded on July 4, 1886 and is headquartered in Rosemead, CA.

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Analyst Recommendations for Edison International (NYSE:EIX)

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