Edison International (NYSE:EIX) Price Target Lowered to $75.00 at Wells Fargo & Company

Edison International (NYSE:EIX) had its target price lowered by Wells Fargo & Company from $94.00 to $75.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the utilities provider’s stock.

Other research analysts have also issued research reports about the stock. LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price for the company in a research report on Wednesday, January 15th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $72.00 price objective on shares of Edison International in a research report on Wednesday, February 12th. Jefferies Financial Group initiated coverage on Edison International in a research note on Thursday, November 7th. They set a “buy” rating and a $93.00 target price for the company. Morgan Stanley dropped their price target on Edison International from $71.00 to $48.00 and set an “underweight” rating on the stock in a research report on Friday, February 14th. Finally, Barclays reduced their price objective on Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $78.75.

Edison International Stock Performance

Shares of NYSE EIX opened at $54.45 on Friday. The business’s 50-day simple moving average is $61.38 and its 200-day simple moving average is $76.50. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. Edison International has a 52 week low of $49.06 and a 52 week high of $88.77. The firm has a market cap of $21.08 billion, a price-to-earnings ratio of 15.97, a P/E/G ratio of 1.07 and a beta of 0.90.

Edison International (NYSE:EIX) last announced its quarterly 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). 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 analyst estimates of $3.92 billion. As a group, equities research analysts expect that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be given a $0.8275 dividend. This represents a $3.31 annualized dividend and a yield of 6.08%. The ex-dividend date of this dividend is Monday, April 7th. Edison International’s dividend payout ratio (DPR) is presently 97.07%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of EIX. AMF Tjanstepension AB boosted its holdings in Edison International by 9.8% in the third quarter. AMF Tjanstepension AB now owns 271,365 shares of the utilities provider’s stock valued at $23,662,000 after acquiring an additional 24,208 shares during the last quarter. New York State Teachers Retirement System lifted its position in Edison International by 5.2% during the 3rd quarter. New York State Teachers Retirement System now owns 390,144 shares of the utilities provider’s stock valued at $33,978,000 after purchasing an additional 19,196 shares during the period. First Trust Direct Indexing L.P. boosted its stake in shares of Edison International by 10.8% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 9,535 shares of the utilities provider’s stock valued at $830,000 after purchasing an additional 932 shares during the last quarter. Pinnacle Associates Ltd. bought a new position in shares of Edison International in the 3rd quarter valued at about $308,000. Finally, US Bancorp DE grew its position in shares of Edison International by 1.2% during the 3rd quarter. US Bancorp DE now owns 61,744 shares of the utilities provider’s stock worth $5,377,000 after buying an additional 743 shares during the period. 88.95% of the stock is currently owned by institutional investors.

About Edison International

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.