Fintel reports that on September 21, 2023, Morgan Stanley maintained coverage of Edison International (NYSE:EIX) with a Underweight recommendation.
Analyst Price Forecast Suggests 8.46% Upside
As of August 31, 2023, the average one-year price target for Edison International is 75.65. The forecasts range from a low of 51.51 to a high of $90.30. The average price target represents an increase of 8.46% from its latest reported closing price of 69.75.
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The projected annual revenue for Edison International is 16,452MM, a decrease of 4.20%. The projected annual non-GAAP EPS is 4.86.
Edison International Declares $0.74 Dividend
On August 24, 2023 the company declared a regular quarterly dividend of $0.74 per share ($2.95 annualized). Shareholders of record as of September 29, 2023 will receive the payment on October 31, 2023. Previously, the company paid $0.74 per share.
At the current share price of $69.75 / share, the stock's dividend yield is 4.23%.
Looking back five years and taking a sample every week, the average dividend yield has been 4.21%, the lowest has been 3.25%, and the highest has been 5.73%. The standard deviation of yields is 0.45 (n=235).
The current dividend yield is 0.04 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 1.19. 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 1529 funds or institutions reporting positions in Edison International. This is a decrease of 34 owner(s) or 2.18% in the last quarter. Average portfolio weight of all funds dedicated to EIX is 0.32%, a decrease of 0.59%. Total shares owned by institutions decreased in the last three months by 1.56% to 414,025K shares. 
The put/call ratio of EIX is 0.83, indicating a bullish outlook.
What are Other Shareholders Doing?
Capital Research Global Investors holds 18,704K shares representing 4.88% ownership of the company. In it's prior filing, the firm reported owning 18,817K shares, representing a decrease of 0.60%. The firm decreased its portfolio allocation in EIX by 8.18% over the last quarter.
Capital International Investors holds 15,269K shares representing 3.98% ownership of the company. In it's prior filing, the firm reported owning 16,943K shares, representing a decrease of 10.96%. The firm decreased its portfolio allocation in EIX by 16.85% over the last quarter.
Pzena Investment Management holds 13,120K shares representing 3.42% ownership of the company. In it's prior filing, the firm reported owning 13,994K shares, representing a decrease of 6.67%. The firm decreased its portfolio allocation in EIX by 8.81% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 11,937K shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 11,849K shares, representing an increase of 0.74%. The firm decreased its portfolio allocation in EIX by 8.55% over the last quarter.
Wellington Management Group Llp holds 9,525K shares representing 2.49% ownership of the company. In it's prior filing, the firm reported owning 9,576K shares, representing a decrease of 0.53%. The firm decreased its portfolio allocation in EIX by 6.61% 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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