Morgan Stanley Issues Positive Forecast for Edison International (NYSE:EIX) Stock Price

Edison International (NYSE:EIX) had its price objective lifted by Morgan Stanley from $48.00 to $52.00 in a report released on Thursday,Benzinga reports. They currently have an underweight rating on the utilities provider’s stock.

Several other equities research analysts also recently commented on the company. UBS Group raised Edison International from a “neutral” rating to a “buy” rating and cut their price objective for the company from $69.00 to $65.00 in a report on Tuesday, February 18th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $72.00 price target on shares of Edison International in a research note on Wednesday, February 12th. Wells Fargo & Company lowered their price objective on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. The Goldman Sachs Group cut their target price on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Finally, Guggenheim downgraded Edison International from a “buy” rating to a “neutral” rating 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $76.82.

Edison International Trading Up 0.7 %

Shares of NYSE:EIX opened at $58.92 on Thursday. The company’s 50-day moving average price is $55.37 and its two-hundred day moving average price is $73.80. Edison International has a one year low of $49.06 and a one year high of $88.77. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The stock has a market capitalization of $22.68 billion, a PE ratio of 17.28, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87.

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

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be issued a dividend of $0.8275 per share. The ex-dividend date is Monday, April 7th. This represents a $3.31 annualized dividend and a yield of 5.62%. Edison International’s payout ratio is currently 100.30%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EIX. Crews Bank & Trust bought a new stake in shares of Edison International in the fourth quarter valued at about $25,000. Groupama Asset Managment raised its stake in Edison International by 0.8% in the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 237 shares in the last quarter. Larson Financial Group LLC boosted its holdings in Edison International by 125.0% in the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 195 shares during the period. Prospera Private Wealth LLC acquired a new position in shares of Edison International during the 3rd quarter worth approximately $32,000. Finally, Sierra Ocean LLC acquired a new position in shares of Edison International during the 4th quarter worth approximately $33,000. 88.95% of the stock is owned by institutional investors and hedge funds.

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.