Edison International (NYSE:EIX) declared a quarterly dividend on Wednesday, June 24th, Fidelity reports. Stockholders of record on Monday, July 6th will be paid a dividend of 0.6375 per share by the utilities provider on Friday, July 31st. This represents a $2.55 annualized dividend and a dividend yield of 4.61%. The ex-dividend date is Thursday, July 2nd.
Edison International has increased its dividend by an average of 205.6% per year over the last three years and has raised its dividend every year for the last 15 years. Edison International has a payout ratio of 57.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Edison International to earn $4.51 per share next year, which means the company should continue to be able to cover its $2.55 annual dividend with an expected future payout ratio of 56.5%.
Shares of NYSE:EIX opened at $55.34 on Tuesday. The company has a current ratio of 0.79, a quick ratio of 0.73 and a debt-to-equity ratio of 1.23. The firm’s 50 day moving average is $57.64 and its two-hundred day moving average is $64.84. The firm has a market capitalization of $19.93 billion, a P/E ratio of 16.04, a PEG ratio of 3.77 and a beta of 0.51. Edison International has a 52 week low of $43.63 and a 52 week high of $78.93.
Several analysts recently issued reports on EIX shares. Wells Fargo & Co decreased their price objective on shares of Edison International from $75.00 to $65.00 and set an “equal weight” rating for the company in a report on Friday, May 1st. Royal Bank of Canada reaffirmed a “buy” rating and set a $68.00 target price on shares of Edison International in a report on Thursday, April 30th. Seaport Global Securities assumed coverage on Edison International in a report on Monday, June 15th. They set a “buy” rating and a $70.00 price target for the company. ValuEngine lowered Edison International from a “hold” rating to a “sell” rating in a research note on Thursday, April 30th. Finally, UBS Group dropped their price objective on shares of Edison International from $87.00 to $79.00 and set a “buy” rating on the stock in a report on Friday, May 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company. Edison International has a consensus rating of “Buy” and an average target price of $70.80.
About Edison International
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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