Barclays Cuts Edison International (NYSE:EIX) Price Target to $67.00

Edison International (NYSE:EIX) had its target price decreased by Barclays from $68.00 to $67.00 in a research report released on Thursday morning,Benzinga reports. Barclays currently has an overweight rating on the utilities provider’s stock.

A number of other brokerages have also weighed in on EIX. Wall Street Zen upgraded shares of Edison International from a “hold” rating to a “buy” rating in a report on Thursday, January 15th. Zacks Research cut shares of Edison International from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Edison International in a research note on Monday, December 29th. JPMorgan Chase & Co. lowered their target price on Edison International from $67.00 to $65.00 and set a “neutral” rating for the company in a report on Friday, December 12th. Finally, LADENBURG THALM/SH SH lifted their price target on Edison International from $52.50 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $63.70.

Edison International Trading Down 0.1%

Shares of EIX opened at $60.68 on Thursday. The stock’s fifty day simple moving average is $59.39 and its 200-day simple moving average is $56.46. The firm has a market capitalization of $23.35 billion, a PE ratio of 7.93, a price-to-earnings-growth ratio of 0.89 and a beta of 0.83. Edison International has a 12-month low of $47.73 and a 12-month high of $62.62. The company has a quick ratio of 0.76, a current ratio of 0.82 and a debt-to-equity ratio of 1.95.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, October 28th. The utilities provider reported $2.34 EPS for the quarter, beating the consensus estimate of $2.16 by $0.18. Edison International had a net margin of 17.24% and a return on equity of 13.62%. The company had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.31 billion. During the same quarter in the previous year, the company posted $1.51 EPS. The business’s revenue for the quarter 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. As a group, research analysts predict that Edison International will post 4.95 earnings per share for the current year.

Edison International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, January 31st. Stockholders of record on Wednesday, January 7th will be given a $0.8775 dividend. The ex-dividend date of this dividend is Wednesday, January 7th. This is a boost from Edison International’s previous quarterly dividend of $0.83. This represents a $3.51 annualized dividend and a dividend yield of 5.8%. Edison International’s payout ratio is currently 45.88%.

Insider Buying and Selling at Edison International

In related news, Director Peter J. Taylor sold 1,800 shares of the company’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $55.27, for a total value of $99,486.00. Following the transaction, the director directly owned 35,212 shares in the company, valued at approximately $1,946,167.24. This represents a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

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

Edison International Company Profile

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.