Fintel reports that on July 21, 2023, Morgan Stanley maintained coverage of Edison International (NYSE:EIX) with a Underweight recommendation.
Analyst Price Forecast Suggests 4.80% Upside
As of July 6, 2023, the average one-year price target for Edison International is 75.87. The forecasts range from a low of 55.55 to a high of $90.30. The average price target represents an increase of 4.80% from its latest reported closing price of 72.40.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Edison International is 16,452MM, a decrease of 4.45%. The projected annual non-GAAP EPS is 4.86.
Edison International Declares $0.74 Dividend
On June 21, 2023 the company declared a regular quarterly dividend of $0.74 per share ($2.95 annualized). Shareholders of record as of July 5, 2023 will receive the payment on July 31, 2023. Previously, the company paid $0.74 per share.
At the current share price of $72.40 / share, the stock's dividend yield is 4.07%.
Looking back five years and taking a sample every week, the average dividend yield has been 4.19%, the lowest has been 3.25%, and the highest has been 5.73%. The standard deviation of yields is 0.46 (n=235).
The current dividend yield is 0.25 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 1.35. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's 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 company's 3-Year dividend growth rate is 0.16%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1566 funds or institutions reporting positions in Edison International. This is an increase of 35 owner(s) or 2.29% in the last quarter. Average portfolio weight of all funds dedicated to EIX is 0.33%, an increase of 0.10%. Total shares owned by institutions decreased in the last three months by 1.58% to 420,555K shares. 
The put/call ratio of EIX is 1.39, indicating a bearish outlook.
What are Other Shareholders Doing?
Capital Research Global Investors holds 18,817K shares representing 4.91% ownership of the company. In it's prior filing, the firm reported owning 18,656K shares, representing an increase of 0.85%. The firm increased its portfolio allocation in EIX by 5.68% over the last quarter.
Capital International Investors holds 16,943K shares representing 4.42% ownership of the company. In it's prior filing, the firm reported owning 18,541K shares, representing a decrease of 9.43%. The firm decreased its portfolio allocation in EIX by 2.85% over the last quarter.
Pzena Investment Management holds 13,994K shares representing 3.65% ownership of the company. In it's prior filing, the firm reported owning 13,620K shares, representing an increase of 2.67%. The firm increased its portfolio allocation in EIX by 10.74% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 11,849K shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 11,604K shares, representing an increase of 2.07%. The firm increased its portfolio allocation in EIX by 4.62% over the last quarter.
Franklin Resources holds 10,144K shares representing 2.65% ownership of the company. In it's prior filing, the firm reported owning 10,459K shares, representing a decrease of 3.11%. The firm decreased its portfolio allocation in EIX by 76.96% 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.
Additional reading:
- Eleventh Supplemental Indenture dated May 15, 2023, including the Form of 5.25% Senior Notes due 2028
- 1 Edison International | Investor Guide to SCE 2025 GRC Statements contained in this presentation about future performance, including, without limitation, operating results, capital expenditures, rate base growth, dividend policy, financial outlook,
- 1 Statements contained in this presentation about future performance, including, without limitation, operating results, capital expenditures, rate base growth, dividend policy, financial outlook, and other statements that are not purely historical, a
- Edison International Reports First Quarter 2023 Results
- Prepared Remarks of Edison International CEO and CFO First Quarter 2023 Earnings Teleconference May 2, 2023, 1:30 p.m. (PT)
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.
