Wells Fargo & Co cut shares of Edison International (NYSE:EIX) from an outperform rating to a market perform rating in a research report report published on Monday morning, Marketbeat.com reports. The firm currently has $65.00 price objective on the utilities provider’s stock.
A number of other equities analysts have also weighed in on EIX. Zacks Investment Research lowered Edison International from a buy rating to a hold rating in a research note on Tuesday, October 16th. ValuEngine lowered Edison International from a hold rating to a sell rating in a research note on Saturday, November 10th. Edward Jones lowered Edison International from a hold rating to a sell rating in a research note on Tuesday, November 13th. SunTrust Banks decreased their target price on Edison International to $75.00 and set a buy rating on the stock in a research note on Thursday, November 15th. Finally, Citigroup upgraded Edison International from a neutral rating to a buy rating and decreased their target price for the stock from $72.00 to $59.00 in a research note on Friday, November 16th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Edison International has an average rating of Hold and an average price target of $67.46.
Shares of NYSE EIX opened at $60.41 on Monday. The stock has a market capitalization of $18.95 billion, a price-to-earnings ratio of 13.42, a price-to-earnings-growth ratio of 2.15 and a beta of -0.04. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.66 and a current ratio of 0.72. Edison International has a twelve month low of $45.50 and a twelve month high of $71.00.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 31st. Stockholders of record on Monday, December 31st were given a dividend of $0.6125 per share. The ex-dividend date of this dividend was Friday, December 28th. This is a positive change from Edison International’s previous quarterly dividend of $0.61. This represents a $2.45 annualized dividend and a dividend yield of 4.06%. Edison International’s dividend payout ratio is 54.44%.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Edison International by 3.2% during the 3rd quarter. BlackRock Inc. now owns 28,543,129 shares of the utilities provider’s stock valued at $1,931,800,000 after purchasing an additional 881,794 shares during the last quarter. Vanguard Group Inc boosted its holdings in Edison International by 1.6% during the 3rd quarter. Vanguard Group Inc now owns 24,922,577 shares of the utilities provider’s stock valued at $1,686,760,000 after acquiring an additional 392,144 shares during the period. Macquarie Group Ltd. boosted its holdings in Edison International by 5.8% during the 3rd quarter. Macquarie Group Ltd. now owns 11,742,063 shares of the utilities provider’s stock valued at $789,403,000 after acquiring an additional 646,312 shares during the period. Capital International Investors boosted its holdings in Edison International by 327.4% during the 3rd quarter. Capital International Investors now owns 11,136,310 shares of the utilities provider’s stock valued at $753,705,000 after acquiring an additional 8,530,510 shares during the period. Finally, Pzena Investment Management LLC boosted its holdings in Edison International by 14.2% during the 3rd quarter. Pzena Investment Management LLC now owns 8,949,790 shares of the utilities provider’s stock valued at $605,722,000 after acquiring an additional 1,113,386 shares during the period. Hedge funds and other institutional investors own 83.86% of the company’s stock.
Edison International Company Profile
Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.
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