JPMorgan Chase & Co. assumed coverage on shares of Edison International (NYSE:EIX) in a research report sent to investors on Friday, MarketBeat reports. The brokerage issued a neutral rating and a $67.00 price target on the utilities provider’s stock.

EIX has been the topic of a number of other research reports. SunTrust Banks restated a buy rating and set a $85.00 price target on shares of Edison International in a report on Thursday, December 7th. Goldman Sachs Group set a $70.00 price target on Edison International and gave the company a hold rating in a report on Friday, December 15th. Citigroup boosted their price target on Edison International from $84.00 to $87.00 and gave the company a neutral rating in a report on Tuesday, October 17th. Zacks Investment Research downgraded Edison International from a hold rating to a sell rating in a report on Tuesday, January 2nd. Finally, Royal Bank of Canada restated a buy rating and set a $74.00 price target on shares of Edison International in a report on Friday, December 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company’s stock. Edison International presently has an average rating of Hold and an average price target of $80.67.

Shares of Edison International (NYSE EIX) opened at $61.42 on Friday. Edison International has a 52 week low of $61.25 and a 52 week high of $83.38. The company has a quick ratio of 0.47, a current ratio of 0.51 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $20,011.32, a PE ratio of 13.86, a PEG ratio of 2.26 and a beta of 0.24.

Edison International (NYSE:EIX) last released its earnings results on Monday, October 30th. The utilities provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.10. Edison International had a return on equity of 10.84% and a net margin of 13.18%. The company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.53 billion. During the same quarter in the previous year, the company posted $1.29 EPS. Edison International’s revenue for the quarter was down 2.5% on a year-over-year basis. analysts expect that Edison International will post 4.33 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be given a $0.605 dividend. This is a boost from Edison International’s previous quarterly dividend of $0.54. This represents a $2.42 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date is Thursday, December 28th. Edison International’s payout ratio is currently 54.63%.

In other news, insider Ronald L. Litzinger sold 224,718 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $82.00, for a total value of $18,426,876.00. Following the sale, the insider now directly owns 14,121 shares of the company’s stock, valued at approximately $1,157,922. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.41% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in EIX. Engineers Gate Manager LP bought a new position in Edison International in the 2nd quarter valued at approximately $986,000. AXA lifted its holdings in shares of Edison International by 1.0% during the 2nd quarter. AXA now owns 40,701 shares of the utilities provider’s stock valued at $3,182,000 after buying an additional 400 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Edison International by 5.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,013 shares of the utilities provider’s stock valued at $627,000 after buying an additional 415 shares during the period. Seven Eight Capital LP bought a new position in shares of Edison International during the 2nd quarter valued at $351,000. Finally, Icon Advisers Inc. Co. lifted its holdings in shares of Edison International by 10.4% during the 2nd quarter. Icon Advisers Inc. Co. now owns 37,000 shares of the utilities provider’s stock valued at $2,893,000 after buying an additional 3,500 shares during the period. 81.15% of the stock is currently owned by institutional investors and hedge funds.

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Edison International Company Profile

Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.

Analyst Recommendations for Edison International (NYSE:EIX)

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