Brokerages Set Edison International (NYSE:EIX) PT at $63.30

Edison International (NYSE:EIX) has earned an average rating of “Hold” from the fourteen analysts that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $63.30.

A number of equities analysts recently commented on EIX shares. Wells Fargo & Company lowered shares of Edison International from an “equal weight” rating to an “underweight” rating and raised their price target for the stock from $56.00 to $59.00 in a research report on Tuesday, January 20th. TD Cowen assumed coverage on shares of Edison International in a report on Thursday, October 16th. They set a “buy” rating and a $71.00 target price on the stock. LADENBURG THALM/SH SH lifted their price target on shares of Edison International from $52.50 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Barclays reduced their price target on Edison International from $68.00 to $67.00 and set an “overweight” rating on the stock in a research report on Thursday, January 22nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Edison International in a report on Monday, December 29th.

Hedge Funds Weigh In On Edison International

Several hedge funds and other institutional investors have recently made changes to their positions in EIX. Activest Wealth Management boosted its position in shares of Edison International by 677.8% during the 3rd quarter. Activest Wealth Management now owns 560 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 488 shares in the last quarter. CVA Family Office LLC boosted its holdings in shares of Edison International by 113.7% in the 3rd quarter. CVA Family Office LLC now owns 577 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 307 shares in the last quarter. Ransom Advisory Ltd increased its stake in shares of Edison International by 74.9% in the 4th quarter. Ransom Advisory Ltd now owns 605 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 259 shares during the last quarter. Laurel Wealth Advisors LLC raised its holdings in shares of Edison International by 5,064.3% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 723 shares of the utilities provider’s stock worth $37,000 after buying an additional 709 shares in the last quarter. Finally, CoreFirst Bank & Trust bought a new stake in shares of Edison International during the 2nd quarter worth $38,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Stock Performance

Shares of NYSE EIX opened at $60.69 on Thursday. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.82 and a quick ratio of 0.76. The firm has a market cap of $23.35 billion, a price-to-earnings ratio of 7.93, a P/E/G ratio of 0.91 and a beta of 0.82. The stock’s fifty day moving average price is $59.83 and its two-hundred day moving average price is $56.96. Edison International has a one year low of $47.73 and a one year high of $63.19.

Edison International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, January 31st. Investors of record on Wednesday, January 7th were given a dividend of $0.8775 per share. This is a positive change from Edison International’s previous quarterly dividend of $0.83. This represents a $3.51 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend was Wednesday, January 7th. Edison International’s dividend payout ratio (DPR) is currently 45.88%.

Edison International Company Profile

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.