|Bid||69.00 x 900|
|Ask||70.22 x 1000|
|Day's Range||69.92 - 70.70|
|52 Week Range||45.50 - 71.54|
|Beta (3Y Monthly)||0.20|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul 25, 2019|
|Forward Dividend & Yield||2.45 (3.52%)|
|1y Target Est||71.92|
Edison International (EIX) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Southern California Edison, after rigorous regulatory, internal and third-party readiness and operational reviews, will restart spent nuclear fuel transfer operations at the San Onofre nuclear plant. SCE halted the transfer of fuel from wet to dry storage following an incident last Aug. 3 when a canister became wedged during the downloading process. The canister was eventually placed safely into storage.
The market logged its fourth straight day of gains on Friday, fighting its way a little deeper into record-high territory for the last three. It all feels a bit artificial, but it's not a train anybody dare risk jumping in front of.Source: Shutterstock Facebook (NASDAQ:FB) did more than its fair share of heavy lifting, up nearly 2% after the Federal Trade Commission settled its anti-privacy claim against the company for an affordable $5 billion. More importantly, the settlement puts the nagging matter in the past. Infosys (NYSE:INFY) logged the best gain for the day, however, up more than 6% in response to an impressive first quarter.Weighing the market down more than any other name was Johnson & Johnson (NYSE:JNJ). Shares of the healthcare company fell 4% on new accusations that it knowingly lied about the cancer risks related to its talc products. It has prompted a criminal probe.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Stocks Driving the Market to All-Time Highs (And Why) As the new week's trading action gets going, however, its the stock charts of Netflix (NASDAQ:NFLX), Lowe's (NYSE:LOW) and Edison International (NYSE:EIX) that merit the closest looks. Here's what's most noteworthy about each. Edison International (EIX)Like most other utility names, Edison International investors enjoyed a fruitful June. Unlike most utility stocks, however, EIX has continued to charge higher in July, avoiding the slowdown that has adversely impacted other names in the business.Shares have finally hit a headwind at fairly well-established technical resistance. And, they're now officially overbought. If traders can pull off a miracle and continue to march higher, however, there's little left to hold the move back until much, much higher. Click to Enlarge * The ceiling in question is right around $71, marked in yellow on both stock charts. That's where Edison peaked in October, and where it stopped advancing last week. * Still, the volume behind the recent rally has been abnormally high. It has been induced by headlines related to last year's wildfires in California, but there's a horde of buyers amassing all the same. * Should EIX manage to break out, there's not another established technical ceiling in place until 2017's highs near $82. Lowe's (LOW)The recent rally from Lowe's is a rather significant, given it has only been in place since late May. Shares are up 16% in just that eight-week stretch. There's room and reason for LOW to continue moving higher, however. In fact, it's more likely to do that -- in spades -- than not. * 10 Best Dividend Stocks to Buy for the Rest of 2019 and Beyond Click to Enlarge * It's apparent on the daily chart, though more so on the weekly chart, that the rebound was prompted by an encounter with a rising support line that extends back to 2017's low. * The same weekly chart also illustrates where the most likely upside targets are. There's a horizontal ceiling near $118, marked in red, then there's the upper boundary of the rising trading channel. * Although the past couple of months have looked and felt overly bullish, the advance is still in its infancy. We don't yet have a MACD crossover on the weekly chart, and we're nowhere near close to being stochastically overbought. Netflix (NFLX)A month and a half ago, Netflix was on the verge of a serious meltdown. A horizontal floor was crumbling, and the 200-day moving average line (plotted in white on both stock charts) was under attack as support. And, both were happening right after NFLX bumped into a horizontal ceiling, plotted as a white dashed line on both stock charts.The stock ended up evading disaster, pushing up and off the 200-day moving average line after all. But, last week, that technical ceiling once again came back into play. It not only capped the rebound effort, but appears to have rekindled the selling. Click to Enlarge * Friday's 1.9% slide was not only a pullback on a day the overall market tide was bullish, it took shape on a suspiciously high level of volume -- particularly for a Friday. * The previous technical floors are still floors. That's the horizontal floor at $342.20, plotted in yellow, and the 200-day moving average line currently at $338.17. * The narrow trading range is well established. Having been in place for a while, any break outside of it could set up a prolonged move to make up for lost time as pent-up action is unleashed.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Dependable Dividend Stocks to Buy * 10 Stocks Driving the Market to All-Time Highs (And Why) * 7 Short Squeeze Stocks With Big Upside Potential The post 3 Big Stock Charts for Monday: Lowe's, Netflix and Edison International appeared first on InvestorPlace.
Moody's Investors Service ("Moody's") today affirmed San Diego Gas & Electric Company's (SDG&E) ratings, including its Baa1 Issuer rating, A2 senior secured rating as well as its P-2 short-term rating.
Moody's Investors Service ("Moody's") today affirmed the ratings of Edison International (Edison), including its Baa3 senior unsecured rating, and the ratings of its principal subsidiary Southern California Edison Company (SCE), including its Baa2 senior unsecured rating. Please see below for a complete list of ratings affirmed.
California Governor Gavin Newsom on Friday signed a bill approved by lawmakers a day earlier that creates a $21 billion fund to help bankrupt PG&E Corp and the state's other investor-owned utilities cover liabilities arising from future wildfires caused by their equipment. Both chambers of California's legislature rushed this week to approve the bill and send it to Newsom to meet the July 12 deadline demanded by S&P Global Ratings. The credit rating agency had warned it could lower its ratings on the state's two other major investor-owned power providers, Edison International's Southern California Edison and Sempra Energy's San Diego Gas & Electric, absent "concrete actions" by policymakers to reduce credit risks posed by wildfires to the state's utilities.
Southern California Edison appreciates the focus Gov. Newsom, his strike force and the Commission on Catastrophic Wildfire Cost and Recovery brought to the issue, as well as the diligence and urgency with which the Assembly and Senate acted to pass a package of bipartisan bills.
Edison International (EIX) is looking like an interesting pick from a technical perspective, as the company is seeing favorable trends on the moving average crossover front.
On Tuesday, PG&E; (PCG) stock rose more than 6% during the early trading hours. The stock lost most of its gains and closed 0.7% higher.
Utilities, which are sensitive to interest rates, rose 1.8% while the S&P; 500 managed to gain almost 2% in the week that ended on July 5.
(Bloomberg) -- California’s biggest utilities -- PG&E Corp., Edison International and Sempra Energy -- may not get the help they need to deal with multi-billion dollar wildfire liabilities before lawmakers adjourn July 12 for recess.Governor Gavin Newsom signaled that pending legislation may not be finalized by then, a date around which S&P Global Ratings has indicated it might downgrade the utilities to junk absent state action. “The bond-rating agencies have marked the 12th and 13th as important days,” Newsom said Wednesday at an unrelated bill signing event, according to CALmatters, a nonprofit news organization. “But if we make a tremendous amount of progress in the next two weeks and it bleeds over for a few days, I imagine that will be considered.”Asked about the comments Friday, Newsom spokesman Nathan Click said the administration was “continuing to work toward the 12th” but that it’s “also important to get it right.”California’s utility giants are counting on the legislation to save them from mounting liabilities tied to wildfires that their equipment keeps igniting. The state’s largest power company, PG&E, was forced to declare bankruptcy in January to deal with an estimated $30 billion in fire damages. Both Edison International’s and Sempra Energy’s utilities face junk ratings should the state fail to come up with a fix in time.In California, a legal doctrine known as inverse condemnation holds utilities liable for wildfires that their equipment sparks, even if they aren’t proven negligent. Newsom has proposed a sweeping plan to help power providers pay for future wildfire damages and make it easier for them to recover costs if they obtain a safety certification. The bill is scheduled for a committee hearing Monday after being postponed twice.S&P said in June that it may cut Edison’s Southern California Edison and Sempra’s San Diego Gas & Electric to below investment grade “on or about July 12” absent legislative action reducing the exposure to fire liabilities.“The downgrades would reflect the higher wildfire risks that California’s electric utilities are facing without adequate regulatory protections to effectively reduce those risks,” the company said.Legislative leaders, who like Newsom are Democrats, on Friday pointed to the work on the bill underway. “Substantial progress has been made,” said Kevin Liao, a spokesman for Assembly Speaker Anthony Rendon.Senate President pro Tempore Toni Atkins said in a statement that the Senate is “unified” with the governor to finish the legislation “as quickly as possible.”“We know wildfire season is upon us and we must move quickly to resolve all of these issues,” she said. “We trust that the progress we have made is clear indication that we are taking this seriously.”(Updates with legislative comments starting in third to last paragraphs.)\--With assistance from Mark Chediak.To contact the reporter on this story: Romy Varghese in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Elizabeth Campbell at email@example.com, Michael B. Marois, William SelwayFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Utilities continue to impress, with good growth prospects, secure dividends, and sound balance sheets. That's good news for investors, who could realize 5%-7% annual dividend and earnings growth from many high-quality utilities with narrow moats and 3% yields.
(Bloomberg) -- Just a few weeks into California’s dry summer season, fires linked to PG&E Corp. have already started to break out.More than 2,000 acres burned in Monterey County this week, with power lines blamed as the cause. Earlier this month, a transformer burst into flames in Marin County, north of San Francisco, and ignited a brush fire. In San Jose, falling PG&E wires may have scorched a house and an acre of land.The blazes, while small, are early signs of the difficulties California’s largest utility faces as it tries to prevent a disastrous conflagration like last year’s Camp Fire, which killed 85 people and sent the company spiraling into bankruptcy. PG&E’s tens of thousands of miles of power lines are so vast, and the work so extensive, that it has already warned that it’s behind on some aggressive safety work. And against windy and parched conditions, some fires are all but inevitable.In the company’s first summer operating in Chapter 11, there are even more obstacles: a shortage of workers for needed upkeep and delays in accessing land, adding more uncertainty to an already precarious situation.“PG&E has a big challenge ahead of it,” said Michael Wara, director of the Climate and Energy Policy Program at Stanford University, who was a member of a state-appointed wildfire commission. “The company has to rethink how it operates its system, more or less, and nobody really has had to do that in a very long time.”For more, read: California’s Newsom Now Has a Bill to Back His Wildfire PlanWhile most wildfires aren’t sparked by utilities -- people are the ones who usually start them -- electrical equipment has ignited at least six of the 10 most destructive blazes in state history. Last year alone, California power companies PG&E, Edison International’s Southern California Edison and Sempra Energy’s San Diego Gas and Electric sparked almost 570 fires, state data show.PG&E, with the largest service territory, was to blame for more than 400 of those, but the vast majority were small and extinguished quickly. The company said the number of incidents were down from a year earlier.No matter how many trees they trim and lines they repair, utility executives have warned that completely fireproofing their systems is a next-to-impossible endeavor. As Edison Chief Executive Officer Pedro Pizarro said during a recent call with investors, “Perfection is an unreasonable and unrealistic standard.”The enormity of the task of preventing another catastrophe isn’t lost on PG&E and its new leadership, who have been in place for just a couple months. The San Francisco-based utility has undertaken a sweeping plan to inspect, repair and clear trees and brush away from its power lines in high-risk areas, while installing new weather monitoring devices.The company said this month that it addressed about 1,200 critical safety threats on its grid from its stepped up safety inspections that are nearly complete.“This work is happening on a scale never seen before in the industry,” Chief Executive Officer Bill Johnson said at the company’s annual shareholder meeting last week. Johnson, an industry veteran, has vowed to improve the safety operations of PG&E and restore its credibility as past fires continue to haunt the utility. California regulators said Thursday that they're considering fines and penalties against PG&E for its role in the 2017 blazes that devastated wine country. PG&E shares were down 1.1% as of 11:24 a.m. in New York on Friday. The company said an emailed statement that it’s “taking steps every day to improve the safety and reliability” of its system. Since late last year, PG&E said it has been accelerating and enhancing inspections and repairs of overhead power lines, changing design standards and expanding its wildfire safety program.Tree TrimmersBut the company also is struggling to find qualified workers for the difficult and sometimes dangerous job of trimming trees. PG&E’s agreement with one of its largest contractors for that work, Asplundh Tree Expert, has ended, leaving the company rushing to find replacements.As of April 25, PG&E had completed more than one-quarter of its targeted tree cutting for this year, according to a filing with state regulators. At the end of May, PG&E said it wouldn’t hit its vegetation management targets by June 30 and would update regulators after more reviews.Chriso Lee, director of operations for a contractor that trims trees for PG&E in the Yosemite area, said he’s recruiting workers from as far away as Australia and Puerto Rico. “Finding qualified workers is a huge challenge,” he said.PG&E now has about 3,000 workers cutting trees in the field a day, but would like to have a couple of thousand more, said Ralph Armstrong, senior assistant business manager for a labor union that represents PG&E employees. And the queues of people looking for lineman assignments at the union halls are out the door, he said.“They are trying to do five years of work in about one year,” Armstrong said of PG&E. “It’s quite a daunting task.”PG&E also said it has had trouble getting environmental or local government permits to access some land, and has faced resistance from private landowners. After a particularly wet winter, some areas in higher elevations have been inaccessible until recently due to the heavy snowpack, or they’re so remote that can only be reached by foot.In a recognition that the utility can’t prevent all fires, PG&E is preemptively shutting power to customers when the risk is high. There is evidence the strategy may be effective: During a recent shutoff of about 22,000 customers north of San Francisco and in the Sierra Nevada foothills, the company found five hazards such as fallen branches lying across conductors.California’s leaders, meanwhile, have also resigned themselves to the fact that fires will happen, and with more frequency, as the effects of climate change deepen. Late Thursday, lawmakers introduced a bill to establish a fund to help utilities deal with their mounting wildfires liabilities. The measure, based on a plan laid out by Governor Gavin Newsom, would be financed with an initial $10.5 billion from the state -- an acknowledgment that the companies will need financial help until they make their grids safer. “The goal can’t be that the electricity system never starts a fire,” said Wara of Stanford. “The goal has to be that the electricity system never starts catastrophic wildfires.”(Adds detail about regulator considering penalties in sixth paragraph.)\--With assistance from Brian Eckhouse.To contact the reporter on this story: Mark Chediak in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Lynn Doan at email@example.com, Joe Ryan, Pratish NarayananFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The Board of Directors of Edison International today declared a quarterly common stock dividend of $0.6125 per share, payable on July 31, 2019, to shareholders of record on July 8, 2019.
Utility crews will begin Monday depowering the 50 community alert sirens once required for operation of the San Onofre nuclear plant. The sirens are located within a 10-mile radius of the plant in the communities of San Clemente, Dana Point, San Juan Capistrano, unincorporated Orange County, the Camp Pendleton Marine base and on state park lands. The Nuclear Regulatory Commission, along with the Federal Emergency Management Agency, determined in 2015 the sirens were unnecessary because accident scenarios at the defueled nuclear plant can no longer exceed Environmental Protection Agency protective action values that recommend evacuation or sheltering in place.
Edison International (EIX) stock offers a potential upside of 10% for the next 12 months. Based on the consensus estimates, Edison International has a median target price of $71.9.
Could Edison International (NYSE:EIX) be an attractive dividend share to own for the long haul? Investors are often...