EIX

Wells Fargo Upgrades Edison International (EIX)

Fintel reports that on May 14, 2024, Wells Fargo upgraded their outlook for Edison International (NYSE:EIX) from Equal-Weight to Overweight.

Analyst Price Forecast Suggests 3.87% Upside

As of May 8, 2024, the average one-year price target for Edison International is 77.82. The forecasts range from a low of 58.58 to a high of $90.30. The average price target represents an increase of 3.87% from its latest reported closing price of 74.92.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Edison International is 17,082MM, an increase of 3.84%. The projected annual non-GAAP EPS is 5.21.

Edison International Declares $0.78 Dividend

On February 22, 2024 the company declared a regular quarterly dividend of $0.78 per share ($3.12 annualized). Shareholders of record as of March 28, 2024 received the payment on April 30, 2024. Previously, the company paid $0.78 per share.

At the current share price of 74.92 / share, the stocks dividend yield is {1}%.

The current dividend yield is 0.26 standard deviations below the historical average.

Additionally, the companys dividend payout ratio is {0}. The payout ratio tells us how much of a companys income is paid out in dividends. A payout ratio of one (1.0) means 100% of the companys income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The companys 3-Year dividend growth rate is {0}%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 1,573 funds or institutions reporting positions in Edison International. This is an decrease of 29 owner(s) or 1.81% in the last quarter. Average portfolio weight of all funds dedicated to EIX is 0.31%, an increase of 0.88%. Total shares owned by institutions decreased in the last three months by 0.43% to 413,506K shares. EIX / Edison International Put/Call Ratios The put/call ratio of EIX is 0.37, indicating a bullish outlook.

What are Other Shareholders Doing?

EIX / Edison International Shares Held by Institutions

Capital Research Global Investors holds 20,345K shares representing 5.29% ownership of the company. In its prior filing, the firm reported owning 20,000K shares , representing an increase of 1.70%. The firm decreased its portfolio allocation in EIX by 7.44% over the last quarter.

Pzena Investment Management holds 13,605K shares representing 3.54% ownership of the company. In its prior filing, the firm reported owning 13,300K shares , representing an increase of 2.25%. The firm decreased its portfolio allocation in EIX by 9.65% over the last quarter.

Capital International Investors holds 13,298K shares representing 3.46% ownership of the company. In its prior filing, the firm reported owning 12,502K shares , representing an increase of 5.99%. The firm decreased its portfolio allocation in EIX by 4.95% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 12,029K shares representing 3.13% ownership of the company. In its prior filing, the firm reported owning 11,951K shares , representing an increase of 0.64%. The firm increased its portfolio allocation in EIX by 1.60% over the last quarter.

Wellington Management Group Llp holds 10,276K shares representing 2.67% ownership of the company. In its prior filing, the firm reported owning 9,842K shares , representing an increase of 4.22%. The firm decreased its portfolio allocation in EIX by 84.20% over the last quarter.

Edison International Background Information
(This description is provided by the company.)

Edison International is one of the nation’s largest electric utility holding companies, providing clean and reliable energy and energy services through its independent companies. Headquartered in Rosemead, California, Edison International is the parent company of Southern California Edison Company, a utility that delivers electricity to 15 million people across Southern, Central and Coastal California. Edison International is also the parent company of Edison Energy, a global energy advisory company delivering comprehensive, data-driven energy solutions to commercial and industrial users to meet their cost, sustainability and risk goals.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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