SunTrust Banks, Inc. restated their buy rating on shares of Edison International (NYSE:EIX) in a research note published on Monday morning. The firm currently has a $89.00 target price on the utilities provider’s stock. SunTrust Banks also issued estimates for Edison International’s Q4 2017 earnings at $0.92 EPS, FY2017 earnings at $4.32 EPS, Q3 2018 earnings at $1.40 EPS, Q4 2018 earnings at $0.93 EPS, Q1 2019 earnings at $1.22 EPS and Q3 2019 earnings at $1.51 EPS.

Several other analysts have also weighed in on EIX. Jefferies Group LLC upgraded shares of Edison International from a hold rating to a buy rating and lifted their target price for the company from $85.00 to $90.00 in a research report on Friday, August 11th. Morgan Stanley lifted their target price on shares of Edison International from $86.00 to $90.00 and gave the company an equal weight rating in a research report on Thursday, August 10th. Bank of America Corporation reiterated a buy rating and set a $86.00 target price on shares of Edison International in a research report on Tuesday, October 24th. BMO Capital Markets reiterated a buy rating and set a $85.00 target price on shares of Edison International in a research report on Thursday, August 17th. Finally, Mizuho reiterated a buy rating and set a $87.00 target price (up from $84.00) on shares of Edison International in a research report on Wednesday, August 23rd. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Edison International currently has an average rating of Hold and a consensus target price of $85.08.

Shares of Edison International (NYSE:EIX) traded up $0.44 during trading on Monday, reaching $79.52. 1,185,900 shares of the company’s stock were exchanged, compared to its average volume of 1,776,540. The stock has a market cap of $25.76 billion, a price-to-earnings ratio of 18.01 and a beta of 0.24.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Monday, October 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.10. Edison International had a net margin of 13.18% and a return on equity of 10.84%. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.53 billion. During the same quarter in the previous year, the firm posted $1.29 EPS. The business’s revenue was down 2.5% compared to the same quarter last year. equities research analysts anticipate that Edison International will post 4.33 EPS for the current year.

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The company also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th were given a $0.5425 dividend. The ex-dividend date was Thursday, September 28th. This represents a $2.17 dividend on an annualized basis and a yield of 2.73%. Edison International’s dividend payout ratio (DPR) is presently 48.98%.

In other Edison International news, insider Ronald L. Litzinger sold 224,715 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $80.54, for a total value of $18,098,546.10. Following the transaction, the insider now directly owns 14,121 shares in the company, valued at $1,137,305.34. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.41% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sun Life Financial INC raised its stake in shares of Edison International by 16,935.7% in the second quarter. Sun Life Financial INC now owns 2,385 shares of the utilities provider’s stock worth $186,000 after acquiring an additional 2,371 shares during the last quarter. TCI Wealth Advisors Inc. raised its stake in shares of Edison International by 139.7% in the third quarter. TCI Wealth Advisors Inc. now owns 2,630 shares of the utilities provider’s stock worth $203,000 after acquiring an additional 1,533 shares during the last quarter. OxFORD Asset Management LLP bought a new position in shares of Edison International in the second quarter worth about $204,000. Shelton Capital Management bought a new position in shares of Edison International in the second quarter worth about $206,000. Finally, Great Lakes Advisors LLC bought a new position in shares of Edison International in the second quarter worth about $207,000. 81.63% of the stock is owned by institutional investors.

About Edison International

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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