Edison International (EIX) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Edison International (NYSE:EIX) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.

According to Zacks, “Edison International’s share price has outperformed the Zacks categorized Utility–Electric power industry price in the last one year backed by its focus on its transmission and distribution infrastructural development programs, and expansion of operations. Its SCE unit targets an average annual rate base and earnings growth of 7% through 2017 driven by infrastructural investment. Edison International presents a lower risk profile compared to its utility-only peers backed by its strong portfolio of regulated utility assets and well-managed merchant energy operations. However, its performance is subject to approvals from regulatory bodies like California Public Utilities Commission (CPUC) and Federal Energy Regulatory Commission (FERC). Any adverse decision on a General Rate Case (GRC) will greatly affect the utility's earnings growth.”

Several other analysts also recently weighed in on the company. Barclays PLC cut their price target on Edison International from $77.00 to $76.00 and set an equal weight rating on the stock in a research note on Wednesday, February 8th. Evercore ISI restated a hold rating on shares of Edison International in a research note on Friday, January 20th. Finally, RBC Capital Markets set a $81.00 price target on Edison International and gave the stock a buy rating in a research note on Wednesday, January 4th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Edison International presently has a consensus rating of Hold and an average price target of $77.73.

Analyst Recommendations for Edison International (NYSE:EIX)

Shares of Edison International (NYSE:EIX) opened at 75.21 on Wednesday. The firm has a 50-day moving average price of $72.31 and a 200-day moving average price of $72.20. The stock has a market capitalization of $24.50 billion, a P/E ratio of 27.89 and a beta of 0.15. Edison International has a 52-week low of $61.50 and a 52-week high of $78.72.

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The company also recently declared a quarterly dividend, which was paid on Tuesday, January 31st. Stockholders of record on Friday, December 30th were issued a dividend of $0.5425 per share. This represents a $2.17 annualized dividend and a dividend yield of 2.89%. This is a boost from Edison International’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Wednesday, December 28th. Edison International’s dividend payout ratio is presently 80.67%.

In other news, insider Ronald L. Litzinger sold 38,086 shares of the stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $69.40, for a total transaction of $2,643,168.40. Following the transaction, the insider now directly owns 12,054 shares of the company’s stock, valued at approximately $836,547.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.51% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. raised its stake in shares of Edison International by 0.5% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 2,912 shares of the company’s stock worth $210,000 after buying an additional 14 shares during the last quarter. Baystate Wealth Management LLC raised its stake in shares of Edison International by 0.5% in the third quarter. Baystate Wealth Management LLC now owns 3,042 shares of the company’s stock worth $220,000 after buying an additional 16 shares during the last quarter. Washington Trust Bank raised its stake in shares of Edison International by 0.9% in the third quarter. Washington Trust Bank now owns 2,777 shares of the company’s stock worth $201,000 after buying an additional 25 shares during the last quarter. Raymond James Trust N.A. raised its stake in shares of Edison International by 0.9% in the third quarter. Raymond James Trust N.A. now owns 4,390 shares of the company’s stock worth $317,000 after buying an additional 41 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Edison International by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,677 shares of the company’s stock worth $1,345,000 after buying an additional 69 shares during the last quarter. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

About Edison International

Edison International is the parent holding company of Southern California Edison Company (SCE). SCE is engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. It is also the parent company of subsidiaries that are engaged in competitive businesses focused on providing energy services to commercial and industrial customers, including distributed resources, engaging in transmission opportunities, and exploring distributed water treatment and recycling.

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