Edison International (NYSE:EIX) Price Target Lowered to $61.00 at Morgan Stanley

Edison International (NYSE:EIX) had its price objective lowered by Morgan Stanley from $64.00 to $61.00 in a research report released on Monday, Benzinga reports. The brokerage currently has an underweight rating on the utilities provider’s stock.

Other analysts have also issued research reports about the company. The Goldman Sachs Group assumed coverage on Edison International in a report on Wednesday, April 10th. They issued a neutral rating and a $78.00 target price on the stock. Royal Bank of Canada reduced their price target on shares of Edison International from $81.00 to $80.00 and set an outperform rating for the company in a report on Thursday, March 7th. Barclays boosted their price objective on shares of Edison International from $72.00 to $75.00 and gave the stock an equal weight rating in a report on Thursday, May 2nd. Wells Fargo & Company raised Edison International from an equal weight rating to an overweight rating and lifted their target price for the stock from $72.00 to $86.00 in a research report on Tuesday, May 14th. Finally, Mizuho upped their price target on Edison International from $75.00 to $85.00 and gave the company a buy rating in a report on Friday, May 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Edison International has a consensus rating of Hold and an average target price of $77.40.

Edison International Stock Up 0.3 %

Shares of Edison International stock opened at $72.04 on Monday. Edison International has a 12-month low of $58.82 and a 12-month high of $77.04. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 2.04. The stock has a 50 day moving average price of $73.34 and a two-hundred day moving average price of $70.41. The stock has a market capitalization of $27.72 billion, a P/E ratio of 31.50 and a beta of 0.95.

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

Edison International Dividend Announcement

The business 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 $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date of this dividend is Monday, July 8th. Edison International’s dividend payout ratio (DPR) is 136.84%.

Insider Buying and Selling at Edison International

In other news, CEO J Andrew Murphy sold 9,794 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $75.07, for a total value of $735,235.58. Following the sale, the chief executive officer now owns 19,660 shares of the company’s stock, valued at approximately $1,475,876.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Caroline Choi sold 10,004 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $75.77, for a total transaction of $758,003.08. Following the sale, the senior vice president now directly owns 26,918 shares in the company, valued at approximately $2,039,576.86. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO J Andrew Murphy sold 9,794 shares of Edison International stock in a transaction on Monday, May 13th. The shares were sold at an average price of $75.07, for a total value of $735,235.58. Following the completion of the transaction, the chief executive officer now owns 19,660 shares of the company’s stock, valued at approximately $1,475,876.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 77,897 shares of company stock valued at $5,851,245. 1.03% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Ausbil Investment Management Ltd boosted its position in Edison International by 54.7% in the 4th quarter. Ausbil Investment Management Ltd now owns 135,099 shares of the utilities provider’s stock valued at $9,658,000 after buying an additional 47,784 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in Edison International by 4.2% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 13,655 shares of the utilities provider’s stock valued at $976,000 after acquiring an additional 551 shares during the last quarter. Jump Financial LLC acquired a new stake in Edison International in the fourth quarter worth about $1,215,000. Avantax Advisory Services Inc. raised its holdings in Edison International by 73.2% during the 4th quarter. Avantax Advisory Services Inc. now owns 21,114 shares of the utilities provider’s stock worth $1,509,000 after purchasing an additional 8,922 shares during the last quarter. Finally, Principal Securities Inc. bought a new stake in Edison International during the 4th quarter worth about $1,233,000. 88.95% of the stock is 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.