Edison International (NYSE:EIX) Given “Outperform” Rating at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Edison International (NYSE:EIX) in a report issued on Monday morning, Benzinga reports. The brokerage currently has a $94.00 price target on the utilities provider’s stock.

EIX has been the subject of several other research reports. Morgan Stanley raised their target price on Edison International from $62.00 to $68.00 and gave the stock an underweight rating in a research note on Friday, August 23rd. UBS Group raised their target price on Edison International from $86.00 to $89.00 and gave the stock a neutral rating in a research note on Wednesday, September 4th. Bank of America initiated coverage on Edison International in a research note on Thursday, September 12th. They set a buy rating and a $95.00 target price for the company. Wells Fargo & Company raised their target price on Edison International from $86.00 to $87.00 and gave the stock an overweight rating in a research note on Friday, July 26th. Finally, Guggenheim raised their price objective on Edison International from $80.00 to $83.00 and gave the company a buy rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Hold and an average target price of $85.83.

Edison International Trading Up 1.0 %

Shares of EIX stock opened at $86.25 on Monday. The stock has a market cap of $33.18 billion, a price-to-earnings ratio of 37.83 and a beta of 0.91. The stock has a 50-day moving average of $81.36 and a 200-day moving average of $75.07. The company has a current ratio of 1.03, a quick ratio of 0.96 and a debt-to-equity ratio of 2.04. Edison International has a 1-year low of $58.82 and a 1-year high of $88.77.

Edison International (NYSE:EIX) last released its earnings results on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.05 by $0.18. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The business had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter last year, the firm posted $1.01 earnings per share. The firm’s revenue was up 9.4% on a year-over-year basis. On average, equities research analysts forecast that Edison International will post 4.96 earnings per share for the current year.

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, July 8th were issued a $0.78 dividend. The ex-dividend date was Monday, July 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.62%. Edison International’s dividend payout ratio is presently 136.84%.

Insider Activity

In other news, CEO J Andrew Murphy sold 23,896 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $85.45, for a total value of $2,041,913.20. Following the transaction, the chief executive officer now owns 19,850 shares in the company, valued at $1,696,182.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Natalie K. Schilling sold 2,341 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total value of $187,280.00. Following the transaction, the vice president now owns 6,338 shares in the company, valued at $507,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO J Andrew Murphy sold 23,896 shares of Edison International stock in a transaction on Monday, August 26th. The stock was sold at an average price of $85.45, for a total value of $2,041,913.20. Following the sale, the chief executive officer now owns 19,850 shares in the company, valued at $1,696,182.50. The disclosure for this sale can be found here. Insiders have sold 89,099 shares of company stock worth $7,223,342 over the last 90 days. 1.03% of the stock is currently owned by corporate insiders.

Institutional Trading of Edison International

Hedge funds have recently bought and sold shares of the business. CreativeOne Wealth LLC bought a new stake in Edison International during the first quarter worth $230,000. Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in Edison International by 4.2% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 13,655 shares of the utilities provider’s stock worth $976,000 after acquiring an additional 551 shares during the period. Swedbank AB lifted its holdings in Edison International by 76.3% during the second quarter. Swedbank AB now owns 446,637 shares of the utilities provider’s stock worth $32,073,000 after acquiring an additional 193,307 shares during the period. Norges Bank bought a new stake in Edison International during the fourth quarter worth $210,327,000. Finally, Brookstone Capital Management lifted its holdings in Edison International by 3,503.3% during the first quarter. Brookstone Capital Management now owns 135,341 shares of the utilities provider’s stock worth $9,573,000 after acquiring an additional 131,585 shares during the period. 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.