Edison International (NYSE:EIX) Announces $0.83 Quarterly Dividend

Edison International (NYSE:EIX) announced a quarterly dividend on Thursday, February 27th, RTT News reports. Stockholders of record on Monday, April 7th will be paid a dividend of 0.8275 per share by the utilities provider on Wednesday, April 30th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 6.44%.

Edison International has raised its dividend by an average of 5.6% per year over the last three years and has increased its dividend every year for the last 22 years. Edison International has a dividend payout ratio of 54.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Edison International to earn $5.76 per share next year, which means the company should continue to be able to cover its $3.31 annual dividend with an expected future payout ratio of 57.5%.

Edison International Stock Performance

Shares of EIX opened at $51.43 on Friday. The business has a 50-day simple moving average of $61.88 and a two-hundred day simple moving average of $76.70. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. Edison International has a 52 week low of $49.06 and a 52 week high of $88.77. The stock has a market cap of $19.91 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 1.07 and a beta of 0.90.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Thursday, February 27th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company had revenue of $17.60 billion for the quarter, compared to the consensus estimate of $3.92 billion. On average, analysts expect that Edison International will post 4.95 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on EIX shares. UBS Group raised shares of Edison International from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $69.00 to $65.00 in a research note on Tuesday, February 18th. Barclays cut their price target on Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Jefferies Financial Group started coverage on Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 price target on the stock. Guggenheim lowered Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $72.00 target price on shares of Edison International in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $80.11.

Edison International Company Profile

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.