Edison International (NYSE:EIX) Hits New 1-Year High at $74.88

Edison International (NYSE:EIX) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $74.88 and last traded at $74.76, with a volume of 2148277 shares. The stock had previously closed at $73.85.

Analysts Set New Price Targets

Several research firms have recently commented on EIX. TheStreet cut shares of Edison International from a “b” rating to a “c+” rating in a research note on Thursday, February 22nd. Mizuho cut their target price on Edison International from $76.00 to $75.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. StockNews.com raised Edison International from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. Barclays upped their price target on shares of Edison International from $72.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Finally, Guggenheim raised shares of Edison International from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $66.00 to $84.00 in a report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $72.78.

Edison International Stock Performance

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 company has a market capitalization of $28.76 billion, a price-to-earnings ratio of 32.79 and a beta of 0.95. The stock has a fifty day moving average price of $69.79 and a two-hundred day moving average price of $68.14.

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. Edison International had a return on equity of 12.48% and a net margin of 6.14%. The business had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.16 billion. During the same quarter last year, the firm earned $1.09 earnings per share. The business’s revenue was up 2.8% on a year-over-year basis. As a group, analysts forecast that Edison International will post 4.92 EPS for the current fiscal year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend was Wednesday, March 27th. Edison International’s payout ratio is 136.84%.

Hedge Funds Weigh In On Edison International

A number of institutional investors and hedge funds have recently bought and sold shares of EIX. Capital Research Global Investors boosted its holdings in shares of Edison International by 23.0% in the fourth quarter. Capital Research Global Investors now owns 19,999,563 shares of the utilities provider’s stock valued at $1,429,769,000 after acquiring an additional 3,734,550 shares in the last quarter. Deutsche Bank AG boosted its stake in Edison International by 266.3% during the 3rd quarter. Deutsche Bank AG now owns 4,309,133 shares of the utilities provider’s stock valued at $272,725,000 after purchasing an additional 3,132,877 shares in the last quarter. Norges Bank acquired a new position in shares of Edison International during the 4th quarter valued at $210,327,000. Morningstar Investment Services LLC raised its stake in shares of Edison International by 98.1% in the 4th quarter. Morningstar Investment Services LLC now owns 1,347,664 shares of the utilities provider’s stock worth $96,492,000 after buying an additional 667,273 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in shares of Edison International by 62.1% in the 4th quarter. California Public Employees Retirement System now owns 1,514,003 shares of the utilities provider’s stock worth $108,236,000 after buying an additional 580,117 shares in the last quarter. Institutional investors own 88.95% of the company’s stock.

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.