Edison International (NYSE:EIX) Price Target Raised to $75.00 at Barclays

Edison International (NYSE:EIX) had its price objective upped by Barclays from $72.00 to $75.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has an equal weight rating on the utilities provider’s stock.

Other analysts have also recently issued reports about the stock. StockNews.com raised shares of Edison International from a sell rating to a hold rating in a research note on Saturday, February 24th. The Goldman Sachs Group began coverage on Edison International in a research report on Wednesday, April 10th. They issued a neutral rating and a $78.00 price objective for the company. Mizuho reduced their target price on Edison International from $76.00 to $75.00 and set a buy rating on the stock in a research report on Thursday, January 25th. Royal Bank of Canada lowered their price target on Edison International from $81.00 to $80.00 and set an outperform rating for the company in a report on Thursday, March 7th. Finally, TheStreet lowered shares of Edison International from a b rating to a c+ rating in a report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Hold and an average target price of $74.10.

Edison International Stock Performance

EIX traded up $0.37 during trading on Thursday, hitting $72.34. The stock had a trading volume of 1,476,177 shares, compared to its average volume of 1,983,937. The firm has a market capitalization of $27.83 billion, a P/E ratio of 31.73 and a beta of 0.95. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.73 and a current ratio of 1.00. Edison International has a twelve month low of $58.82 and a twelve month high of $74.40. The company’s 50-day moving average price is $69.33 and its 200 day moving average price is $67.89.

Edison International (NYSE:EIX) last released its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.01. The company had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.16 billion. Edison International had a return on equity of 12.48% and a net margin of 6.14%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.09 earnings per share. On average, equities research analysts forecast that Edison International will post 4.92 EPS for the current fiscal year.

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.78 per share. The ex-dividend date was Wednesday, March 27th. This represents a $3.12 annualized dividend and a yield of 4.31%. Edison International’s dividend payout ratio is currently 136.84%.

Hedge Funds Weigh In On Edison International

Hedge funds have recently made changes to their positions in the business. Able Wealth Management LLC purchased a new stake in shares of Edison International during the 4th quarter valued at about $25,000. Bruce G. Allen Investments LLC acquired a new stake in Edison International in the fourth quarter valued at approximately $27,000. Global Trust Asset Management LLC purchased a new stake in shares of Edison International during the first quarter valued at approximately $28,000. WASHINGTON TRUST Co lifted its position in shares of Edison International by 117.4% during the fourth quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 270 shares in the last quarter. Finally, Northwest Financial Advisors purchased a new position in shares of Edison International in the fourth quarter valued at $40,000. Hedge funds and other 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.