Edison International (NYSE:EIX) Downgraded by UBS Group to Neutral

UBS Group cut shares of Edison International (NYSE:EIX) from a buy rating to a neutral rating in a research report report published on Friday, MarketBeat reports. The brokerage currently has $82.00 price target on the utilities provider’s stock, down from their prior price target of $83.00.

Several other research firms also recently weighed in on EIX. Barclays boosted their price target on Edison International from $72.00 to $75.00 and gave the company an equal weight rating in a research note on Thursday, May 2nd. The Goldman Sachs Group initiated coverage on Edison International in a research note on Wednesday, April 10th. They set a neutral rating and a $78.00 price target on the stock. Morgan Stanley dropped their price target on Edison International from $64.00 to $61.00 and set an underweight rating on the stock in a research note on Monday, June 24th. Argus upped their target price on Edison International from $78.00 to $82.00 and gave the stock a buy rating in a research note on Wednesday, June 12th. Finally, Wells Fargo & Company upgraded Edison International from an equal weight rating to an overweight rating and upped their target price for the stock from $72.00 to $86.00 in a research note on Tuesday, May 14th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Edison International has an average rating of Hold and a consensus price target of $77.82.

Edison International Trading Up 0.3 %

Shares of NYSE:EIX opened at $75.20 on Friday. The business’s 50-day moving average is $73.74 and its 200 day moving average is $70.74. Edison International has a 1 year low of $58.82 and a 1 year high of $77.04. The firm has a market capitalization of $28.93 billion, a P/E ratio of 32.98 and a beta of 0.91. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.00 and a quick ratio of 0.93.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.01. The business had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.16 billion. Edison International had a return on equity of 12.48% and a net margin of 6.14%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.09 EPS. On average, research analysts predict that Edison International will post 4.92 earnings per share for the current fiscal year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 8th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, July 8th. This represents a $3.12 dividend on an annualized basis and a yield of 4.15%. Edison International’s dividend payout ratio is currently 136.84%.

Insiders Place Their Bets

In other Edison International news, CEO J Andrew Murphy sold 58,099 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $75.01, for a total transaction of $4,358,005.99. Following the completion of the transaction, the chief executive officer now owns 19,660 shares of the company’s stock, valued at $1,474,696.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO J Andrew Murphy sold 58,099 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $75.01, for a total value of $4,358,005.99. Following the completion of the sale, the chief executive officer now owns 19,660 shares of the company’s stock, valued at $1,474,696.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Caroline Choi sold 10,004 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $75.77, for a total value of $758,003.08. Following the completion of the sale, the senior vice president now directly owns 26,918 shares of the company’s stock, valued at approximately $2,039,576.86. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 77,897 shares of company stock worth $5,851,245. 1.03% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Edison International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EIX. Capital Research Global Investors increased its stake in Edison International by 23.0% during the fourth quarter. Capital Research Global Investors now owns 19,999,563 shares of the utilities provider’s stock worth $1,429,769,000 after acquiring an additional 3,734,550 shares during the last quarter. Norges Bank acquired a new stake in Edison International during the fourth quarter worth $210,327,000. M&G Plc acquired a new stake in Edison International during the first quarter worth $85,436,000. Capital International Investors boosted its position in shares of Edison International by 6.4% during the first quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock worth $940,562,000 after buying an additional 795,950 shares during the period. Finally, Morningstar Investment Services LLC boosted its position in shares of Edison International by 98.1% during the fourth quarter. Morningstar Investment Services LLC now owns 1,347,664 shares of the utilities provider’s stock worth $96,492,000 after buying an additional 667,273 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

About Edison International

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.