Edison International (NYSE:EIX) Sets New 52-Week High – Should You Buy?

Shares of Edison International (NYSE:EIX) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $62.69 and last traded at $62.6730, with a volume of 1981370 shares. The stock had previously closed at $61.64.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Edison International in a research report on Monday, December 29th. JPMorgan Chase & Co. increased their target price on shares of Edison International from $65.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday. UBS Group restated a “buy” rating on shares of Edison International in a research note on Friday, January 16th. LADENBURG THALM/SH SH upped their price target on Edison International from $52.50 to $55.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Finally, TD Cowen started coverage on Edison International in a report on Thursday, October 16th. They set a “buy” rating and a $71.00 price objective on the stock. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Edison International presently has an average rating of “Hold” and an average price target of $63.30.

Edison International Trading Down 0.2%

The company has a 50 day moving average of $59.73 and a 200 day moving average of $56.73. The firm has a market cap of $23.91 billion, a price-to-earnings ratio of 8.12, a price-to-earnings-growth ratio of 0.91 and a beta of 0.83. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 1.95.

Edison International (NYSE:EIX) last released its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $2.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.18. Edison International had a return on equity of 13.62% and a net margin of 17.24%.The firm had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.31 billion. During the same period in the prior year, the company posted $1.51 earnings per share. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, research analysts anticipate that Edison International will post 4.95 EPS for the current year.

Edison International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, January 31st. Shareholders of record on Wednesday, January 7th will be paid a dividend of $0.8775 per share. This is a positive change from Edison International’s previous quarterly dividend of $0.83. This represents a $3.51 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend is Wednesday, January 7th. Edison International’s payout ratio is currently 45.88%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of EIX. Activest Wealth Management raised its position in Edison International by 677.8% in the 3rd quarter. Activest Wealth Management now owns 560 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 488 shares during the last quarter. CVA Family Office LLC increased its stake in shares of Edison International by 113.7% in the third quarter. CVA Family Office LLC now owns 577 shares of the utilities provider’s stock valued at $32,000 after buying an additional 307 shares in the last quarter. Ransom Advisory Ltd raised its holdings in shares of Edison International by 74.9% in the fourth quarter. Ransom Advisory Ltd now owns 605 shares of the utilities provider’s stock valued at $36,000 after buying an additional 259 shares during the last quarter. Laurel Wealth Advisors LLC lifted its position in Edison International by 5,064.3% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 723 shares of the utilities provider’s stock worth $37,000 after buying an additional 709 shares in the last quarter. Finally, Quent Capital LLC bought a new stake in Edison International during the 3rd quarter worth about $40,000. 88.95% of the stock is owned by institutional investors and hedge funds.

About Edison International

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.