Edison International (NYSE:EIX) announced a quarterly dividend on Thursday, December 7th, RTT News reports. Shareholders of record on Friday, December 29th will be given a dividend of 0.605 per share by the utilities provider on Wednesday, January 31st. This represents a $2.42 dividend on an annualized basis and a yield of 3.52%. This is a boost from Edison International’s previous quarterly dividend of $0.54.
Edison International has raised its dividend by an average of 12.5% annually over the last three years and has raised its dividend every year for the last 12 years. Edison International has a payout ratio of 50.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Edison International to earn $4.29 per share next year, which means the company should continue to be able to cover its $2.17 annual dividend with an expected future payout ratio of 50.6%.
Edison International (NYSE EIX) traded down $1.28 during mid-day trading on Thursday, reaching $68.72. 10,027,600 shares of the company’s stock were exchanged, compared to its average volume of 1,776,035. The stock has a market cap of $22,806.78, a P/E ratio of 15.94, a price-to-earnings-growth ratio of 2.54 and a beta of 0.23. The company has a current ratio of 0.51, a quick ratio of 0.47 and a debt-to-equity ratio of 0.80. Edison International has a 12 month low of $67.80 and a 12 month high of $83.38.
Edison International (NYSE:EIX) last released its quarterly earnings results on Monday, October 30th. The utilities provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.10. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.53 billion. Edison International had a net margin of 13.18% and a return on equity of 10.84%. Edison International’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.29 EPS. analysts expect that Edison International will post 4.33 EPS for the current fiscal year.
In other Edison International news, insider Ronald L. Litzinger sold 224,718 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $82.00, for a total value of $18,426,876.00. Following the sale, the insider now directly owns 14,121 shares in the company, valued at approximately $1,157,922. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.41% of the company’s stock.
Several brokerages recently commented on EIX. ValuEngine upgraded shares of Edison International from a “hold” rating to a “buy” rating in a report on Wednesday, November 15th. Royal Bank Of Canada reiterated a “buy” rating and issued a $84.00 target price on shares of Edison International in a report on Sunday, September 17th. Morgan Stanley lifted their target price on shares of Edison International from $90.00 to $92.00 and gave the stock an “equal weight” rating in a report on Friday, September 8th. Mizuho reiterated a “buy” rating and issued a $87.00 target price (up previously from $84.00) on shares of Edison International in a report on Wednesday, August 23rd. Finally, Bank of America reiterated a “buy” rating and issued a $86.00 target price on shares of Edison International in a report on Tuesday, October 24th. Eleven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $84.54.
Edison International Company Profile
Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.
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