Edison International (NYSE:EIX) will issue a quarterly dividend of $0.78

Edison International (NYSE:EIX – Get Free Report ) declared a quarterly dividend on Monday, September 23rd, NASDAQ reports. Investors of record on Monday, October 7th will be given a dividend of 0.78 per share by the utilities provider on Thursday, October 31st. This represents a dividend of $3.12 on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend is Monday, October 7.

Edison International has increased its dividend by an average of 5.1% per year over the last three years and has increased its dividend every year for the last 21 years. Edison International has a payout ratio of 55.6%, meaning its dividend is sufficiently covered by earnings. Equities analysts expect Edison International to earn $5.65 per share next year, which means the company should be able to continue to cover its $3.12 annual dividend with an estimated future payout ratio of 55. 2%

Edison International Stock Performance

EIX traded down $0.16 during mid-day trading on Tuesday, reaching $85.94. 1,735,114 shares of the company traded hands, compared to its average volume of 2,014,398. The company’s fifty day moving average price is $82.58 and its 200 day moving average price is $75.70. The stock has a market cap of $33.07 billion, a P/E ratio of 37.75, a P/E/G ratio of 1.99 and a beta of 0.91. The company has a quick ratio of 0.96, a current ratio of 1.03, and a debt-to-equity ratio of 2.04. Edison International has a 52 week low of $58.82 and a 52 week high of $88.77.

Edison International (NYSE:EIX – Get Free Report ) last issued its earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. The company had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.12 billion. Edison International had a return on equity of 13.01% and a net margin of 6.60%. Edison International’s revenue rose 9.4% year over year. In the same quarter last year, the company earned $1.01 per share. On average, sell-side analysts expect that Edison International will post 4.97 EPS for the current year.

Analysts set new price targets

A number of equities analysts have recently issued reports on EIX shares. Guggenheim lifted their price objective on shares of Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Wells Fargo & Company boosted their price objective on Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Argus lifted their price target on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Evercore ISI boosted their price target on Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Finally, Barclays raised their price objective on Edison International from $80.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. Edison International presently has a consensus rating of “Hold” and a consensus price target of $85.83, according to MarketBeat.

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Insider buying and selling at Edison International

In other Edison International news, CEO J Andrew Murphy sold 1,362 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $85.00, for a total value of $115,770.00. Following the sale, the chief executive officer now owns 19,850 shares in the company, valued at approximately $1,687,250. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC’s website. In other news, CEO J Andrew Murphy sold 1,362 shares of Edison International stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $85.00, for a total value of $115,770.00. Following the sale, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at $1,687,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Also, VP Natalie K. Schilling sold 2,341 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total value of $187,280.00. Following the completion of the sale, the vice president now owns 6,338 shares in the company, valued at $507,040. The disclosure for this sale can be found here. Insiders have sold a total of 89,099 shares of company stock worth $7,223,342 over the past three months. 1.03% of shares are currently owned by corporate insiders.

Edison International Company Profile

(Get a free report)

Edison International, through its subsidiaries, engages in the generation and distribution of electricity. The company supplies and supplies electricity to an area of ​​approximately 50,000 square miles in Southern California to residential, commercial, industrial, government, agricultural and other sectors.

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