Edison International (NYSE:EIX – Get Free Report) shares reached a new 52-week high on Tuesday . The stock traded as high as $81.60 and last traded at $81.5750, with a volume of 377230 shares. The stock had previously closed at $78.64.
Analyst Ratings Changes
A number of research analysts have recently weighed in on the company. Truist Financial dropped their target price on Edison International from $82.00 to $79.00 and set a “hold” rating on the stock in a report on Monday, May 18th. Barclays boosted their price target on shares of Edison International from $77.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Bank of America decreased their price objective on shares of Edison International from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Wells Fargo & Company restated an “underweight” rating and issued a $62.00 target price on shares of Edison International in a research note on Tuesday, April 21st. Finally, JPMorgan Chase & Co. lifted their price target on Edison International from $75.00 to $76.00 and gave the stock a “neutral” rating in a report on Friday, May 15th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Edison International currently has an average rating of “Hold” and an average target price of $72.64.
Get Our Latest Stock Report on EIX
Edison International Price Performance
Edison International (NYSE:EIX – Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.10. The company had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Edison International had a return on equity of 14.56% and a net margin of 19.27%.The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.37 earnings per share. As a group, research analysts forecast that Edison International will post 6.13 earnings per share for the current fiscal year.
Edison International Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, July 7th will be issued a dividend of $0.8775 per share. The ex-dividend date is Tuesday, July 7th. This represents a $3.51 annualized dividend and a yield of 4.5%. Edison International’s dividend payout ratio is currently 38.11%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. 10Elms LLP purchased a new position in Edison International during the fourth quarter valued at $26,000. Transamerica Financial Advisors LLC grew its holdings in shares of Edison International by 170.3% during the fourth quarter. Transamerica Financial Advisors LLC now owns 446 shares of the utilities provider’s stock valued at $27,000 after buying an additional 281 shares during the last quarter. Groupe la Francaise bought a new stake in shares of Edison International during the first quarter valued at approximately $29,000. Altshuler Shaham Ltd raised its holdings in Edison International by 36.6% in the 1st quarter. Altshuler Shaham Ltd now owns 578 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 155 shares during the last quarter. Finally, Quest 10 Wealth Builders Inc. lifted its position in Edison International by 866.7% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 783 shares of the utilities provider’s stock valued at $47,000 after acquiring an additional 702 shares in the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.
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.
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