Edison International (NYSE:EIX) Price Target Lowered to $64.00 at Barclays

Edison International (NYSE:EIX) had its target price lowered by Barclays from $65.00 to $64.00 in a research note issued to investors on Tuesday,Benzinga reports. Barclays currently has an overweight rating on the utilities provider’s stock.

A number of other brokerages have also weighed in on EIX. Wells Fargo & Company cut their price objective on Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target for the company in a report on Wednesday, January 15th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $72.00 price objective on shares of Edison International in a report on Wednesday, February 12th. UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and lowered their target price for the company from $69.00 to $65.00 in a research report on Tuesday, February 18th. Finally, Morgan Stanley boosted their price target on shares of Edison International from $48.00 to $52.00 and gave the stock an “underweight” rating in a research report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $76.75.

Edison International Stock Down 1.0 %

NYSE EIX opened at $55.48 on Tuesday. Edison International has a 12 month low of $49.06 and a 12 month high of $88.77. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The stock has a market cap of $21.36 billion, a PE ratio of 16.27, a P/E/G ratio of 1.07 and a beta of 0.74. The stock’s 50 day moving average is $54.77 and its 200 day moving average is $70.35.

Edison International (NYSE:EIX) last released its earnings results on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.03). The company had revenue of $17.60 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. Research analysts predict that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be given a $0.8275 dividend. This represents a $3.31 annualized dividend and a yield of 5.97%. The ex-dividend date is Monday, April 7th. Edison International’s dividend payout ratio (DPR) is presently 100.30%.

Hedge Funds Weigh In On Edison International

A number of hedge funds have recently added to or reduced their stakes in the stock. Swedbank AB boosted its holdings in shares of Edison International by 3.3% in the fourth quarter. Swedbank AB now owns 523,433 shares of the utilities provider’s stock valued at $41,791,000 after purchasing an additional 16,614 shares during the period. Hennion & Walsh Asset Management Inc. bought a new stake in Edison International during the 4th quarter valued at $235,000. KBC Group NV lifted its holdings in shares of Edison International by 23.7% in the 4th quarter. KBC Group NV now owns 61,342 shares of the utilities provider’s stock worth $4,898,000 after buying an additional 11,764 shares during the period. abrdn plc grew its position in shares of Edison International by 19.5% during the 4th quarter. abrdn plc now owns 1,695,182 shares of the utilities provider’s stock worth $134,335,000 after buying an additional 276,656 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Edison International by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,416,770 shares of the utilities provider’s stock worth $192,955,000 after buying an additional 76,654 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors.

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.