Edison International (NYSE:EIX) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Edison International (NYSE:EIX) from a buy rating to a hold rating in a report released on Wednesday morning.

EIX has been the topic of several other research reports. Cowen began coverage on shares of Edison International in a report on Wednesday, October 15th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. decreased their price target on shares of Edison International from $67.00 to $65.00 and set a “neutral” rating on the stock in a research note on Friday, December 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Edison International in a report on Monday, December 29th. Jefferies Financial Group lifted their target price on Edison International from $57.00 to $59.00 and gave the stock a “hold” rating in a report on Wednesday, October 22nd. Finally, TD Cowen assumed coverage on Edison International in a research report on Thursday, October 16th. They issued a “buy” rating and a $71.00 target price on the stock. Six analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Edison International has an average rating of “Hold” and an average price target of $63.50.

Edison International Stock Performance

NYSE:EIX opened at $58.53 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 1.95. Edison International has a 12-month low of $47.73 and a 12-month high of $75.76. The stock has a 50-day moving average price of $58.44 and a 200 day moving average price of $55.66. The stock has a market capitalization of $22.52 billion, a P/E ratio of 7.65, a P/E/G ratio of 0.88 and a beta of 0.83.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $2.34 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.18. Edison International had a return on equity of 13.62% and a net margin of 17.24%.The company had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.31 billion. During the same period in the previous year, the firm earned $1.51 EPS. The firm’s revenue was up 10.6% compared to the same quarter last year. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. Equities research analysts forecast that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, January 31st. Stockholders of record on Wednesday, January 7th will be given a dividend of $0.8775 per share. The ex-dividend date of this dividend is Wednesday, January 7th. This represents a $3.51 annualized dividend and a dividend yield of 6.0%. This is an increase from Edison International’s previous quarterly dividend of $0.83. Edison International’s dividend payout ratio is presently 45.88%.

Insiders Place Their Bets

In related news, Director Peter J. Taylor sold 1,800 shares of the firm’s stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $55.27, for a total value of $99,486.00. Following the completion of the sale, the director directly owned 35,212 shares in the company, valued at $1,946,167.24. This trade represents a 4.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Edison International by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 51,739,673 shares of the utilities provider’s stock worth $2,860,169,000 after purchasing an additional 269,556 shares during the period. Geode Capital Management LLC raised its position in Edison International by 3.5% in the 2nd quarter. Geode Capital Management LLC now owns 12,136,256 shares of the utilities provider’s stock worth $638,576,000 after purchasing an additional 407,039 shares during the period. AQR Capital Management LLC lifted its stake in Edison International by 8.0% in the third quarter. AQR Capital Management LLC now owns 10,763,984 shares of the utilities provider’s stock worth $595,033,000 after purchasing an additional 801,082 shares during the last quarter. Invesco Ltd. lifted its stake in Edison International by 10.8% in the second quarter. Invesco Ltd. now owns 6,392,459 shares of the utilities provider’s stock worth $329,851,000 after purchasing an additional 621,924 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Edison International by 11.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,593,002 shares of the utilities provider’s stock valued at $288,599,000 after buying an additional 562,991 shares during the period. Institutional investors own 88.95% of the company’s stock.

About Edison International

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.