Zacks Investment Research downgraded shares of Edison International (NYSE:EIX) from a buy rating to a hold rating in a research note published on Monday.

According to Zacks, “Edison International has a strong portfolio of regulated utility assets and well-managed merchant energy operations, which present a lower risk profile than its utility-only peers. Edison boasts a solid financial position backed by strong cash generation capacity. The company also continues to show efficiency in terms of reporting a stable cash inflow through operating activities. A stable financial position enables Edison International to maximize shareholder value through the payment of regular dividends. However, inability to recover uninsured wildfire-related costs may affect financial condition. Its shares underperformed the industry in the past one year. Also, in context to the Montecito Mudslides, SCE’s potential liability related to the company may materialize, which, in turn, will push up the company’s expenses as insurance may not be sufficient to cover the damages. Additionally, this could also weigh on its earnings growth.”

Other equities research analysts also recently issued research reports about the company. Citigroup upgraded Edison International from a neutral rating to a buy rating and dropped their price objective for the company from $72.00 to $59.00 in a report on Friday, November 16th. SunTrust Banks dropped their price objective on Edison International to $75.00 and set a buy rating for the company in a report on Thursday, November 15th. Argus upped their price objective on Edison International to $80.00 and gave the company a buy rating in a report on Thursday, October 11th. They noted that the move was a valuation call. Mizuho upgraded Edison International from a neutral rating to a buy rating and dropped their price objective for the company from $62.00 to $57.50 in a report on Wednesday, November 21st. Finally, TheStreet downgraded Edison International from a b- rating to a c+ rating in a report on Tuesday, December 11th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $68.42.

NYSE EIX opened at $58.19 on Monday. The stock has a market capitalization of $19.43 billion and a P/E ratio of 13.87. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 1.02. Edison International has a 12 month low of $45.50 and a 12 month high of $71.11.

Edison International (NYSE:EIX) last released its quarterly earnings data on Tuesday, October 30th. The utilities provider reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.25. The business had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $3.47 billion. Edison International had a return on equity of 10.61% and a net margin of 4.47%. The firm’s revenue was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.43 earnings per share. On average, equities research analysts predict that Edison International will post 4.15 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 31st. Shareholders of record on Monday, December 31st will be issued a $0.6125 dividend. This is an increase from Edison International’s previous quarterly dividend of $0.61. This represents a $2.45 annualized dividend and a dividend yield of 4.21%. The ex-dividend date is Friday, December 28th. Edison International’s dividend payout ratio is 53.78%.

Several institutional investors have recently made changes to their positions in EIX. Capital International Investors increased its holdings in shares of Edison International by 327.4% in the third quarter. Capital International Investors now owns 11,136,310 shares of the utilities provider’s stock worth $753,705,000 after acquiring an additional 8,530,510 shares in the last quarter. FMR LLC increased its holdings in shares of Edison International by 141.2% in the third quarter. FMR LLC now owns 2,793,280 shares of the utilities provider’s stock worth $189,049,000 after acquiring an additional 1,635,379 shares in the last quarter. Macquarie Group Ltd. increased its holdings in shares of Edison International by 15.3% in the second quarter. Macquarie Group Ltd. now owns 11,095,751 shares of the utilities provider’s stock worth $702,028,000 after acquiring an additional 1,475,620 shares in the last quarter. Pzena Investment Management LLC increased its holdings in shares of Edison International by 14.2% in the third quarter. Pzena Investment Management LLC now owns 8,949,790 shares of the utilities provider’s stock worth $605,722,000 after acquiring an additional 1,113,386 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Edison International by 3.2% in the third quarter. BlackRock Inc. now owns 28,543,129 shares of the utilities provider’s stock worth $1,931,800,000 after acquiring an additional 881,794 shares in the last quarter. Institutional investors own 83.23% of the company’s stock.

About Edison International

Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.

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