JPMorgan Chase & Co. Cuts Edison International (NYSE:EIX) Price Target to $61.00

Edison International (NYSE:EIX) had its price objective trimmed by JPMorgan Chase & Co. from $82.00 to $61.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the utilities provider’s stock.

Several other brokerages have also recently issued reports on EIX. Bank of America cut shares of Edison International from a “buy” rating to a “neutral” rating and decreased their price target for the company from $81.00 to $51.00 in a research report on Tuesday. Truist Financial cut their price target on shares of Edison International from $81.00 to $77.00 and set a “hold” rating on the stock in a report on Tuesday, August 4th. Mizuho reissued a “neutral” rating and issued a $70.00 price objective (down from $86.00) on shares of Edison International in a research note on Monday, August 31st. Morgan Stanley decreased their price objective on Edison International from $69.00 to $65.00 and set an “underweight” rating for the company in a report on Friday, August 21st. Finally, Argus reaffirmed a “hold” rating on shares of Edison International in a research report on Wednesday, August 26th. Two research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $64.55.

Edison International Stock Performance

Shares of EIX stock opened at $56.64 on Wednesday. The firm has a market capitalization of $21.80 billion, a price-to-earnings ratio of 5.84, a PEG ratio of 2.27 and a beta of 0.62. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 1.95. The business’s 50-day moving average price is $72.54 and its 200-day moving average price is $71.96. Edison International has a 12 month low of $52.00 and a 12 month high of $81.62.

Edison International (NYSE:EIX) last released its quarterly earnings data on Thursday, July 30th. The utilities provider reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.36. Edison International had a return on equity of 15.53% and a net margin of 20.30%.The company had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the prior year, the firm posted $0.97 earnings per share. The firm’s revenue was down 4.1% compared to the same quarter last year. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. Equities research analysts forecast that Edison International will post 6.13 EPS for the current year.

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, July 7th were issued a dividend of $0.8775 per share. The ex-dividend date was Tuesday, July 7th. This represents a $3.51 annualized dividend and a yield of 6.2%. Edison International’s dividend payout ratio (DPR) is presently 36.19%.

Institutional Investors Weigh In On Edison International

Institutional investors have recently modified their holdings of the company. Jones Financial Companies Lllp lifted its holdings in Edison International by 112.9% in the first quarter. Jones Financial Companies Lllp now owns 9,785 shares of the utilities provider’s stock valued at $577,000 after buying an additional 5,190 shares during the period. Empowered Funds LLC boosted its position in Edison International by 2.4% during the first quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider’s stock valued at $523,000 after acquiring an additional 211 shares during the last quarter. Woodline Partners LP grew its holdings in Edison International by 40.7% during the 1st quarter. Woodline Partners LP now owns 32,709 shares of the utilities provider’s stock worth $1,927,000 after acquiring an additional 9,459 shares during the period. Sivia Capital Partners LLC grew its holdings in Edison International by 153.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 8,734 shares of the utilities provider’s stock worth $451,000 after acquiring an additional 5,290 shares during the period. Finally, Baird Financial Group Inc. bought a new position in shares of Edison International in the 2nd quarter worth about $302,000. 88.95% of the stock is owned by institutional investors.

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.