Edison International (NYSE:EIX) Stock Price Down 3.4% After Analyst Downgrade

Edison International (NYSE:EIX)’s stock price fell 3.4% on Friday after Morgan Stanley lowered their price target on the stock from $69.00 to $65.00. Morgan Stanley currently has an underweight rating on the stock. Edison International traded as low as $71.63 and last traded at $72.09. Approximately 733,489 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 3,011,394 shares. The stock had previously closed at $74.66.

EIX has been the topic of several other research reports. Weiss Ratings downgraded shares of Edison International from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, August 12th. JPMorgan Chase & Co. increased their price objective on shares of Edison International from $75.00 to $76.00 and gave the company a “neutral” rating in a report on Friday, May 15th. Truist Financial cut their price objective on Edison International from $81.00 to $77.00 and set a “hold” rating for the company in a research report on Tuesday, August 4th. Mizuho lifted their target price on Edison International from $79.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Finally, Barclays reiterated an “equal weight” rating and issued a $75.00 target price (down from $78.00) on shares of Edison International in a research report on Friday, July 31st. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $72.45.

Institutional Investors Weigh In On Edison International

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of Edison International in the 2nd quarter worth about $3,340,412,000. AQR Capital Management LLC grew its position in Edison International by 69.9% in the fourth quarter. AQR Capital Management LLC now owns 18,285,152 shares of the utilities provider’s stock worth $1,097,475,000 after acquiring an additional 7,521,168 shares in the last quarter. Norges Bank purchased a new position in Edison International in the fourth quarter worth about $339,311,000. Legal & General Group Plc bought a new stake in Edison International during the second quarter worth approximately $329,766,000. Finally, Bank of New York Mellon Corp bought a new stake in Edison International during the second quarter worth approximately $309,361,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Stock Performance

The company has a debt-to-equity ratio of 1.95, a current ratio of 0.66 and a quick ratio of 0.61. The business has a 50-day simple moving average of $74.16 and a 200-day simple moving average of $71.98. The firm has a market capitalization of $27.63 billion, a PE ratio of 7.40, a P/E/G ratio of 5.70 and a beta of 0.66.

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

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, July 7th were given a $0.8775 dividend. The ex-dividend date was Tuesday, July 7th. This represents a $3.51 dividend on an annualized basis and a yield of 4.9%. Edison International’s dividend payout ratio (DPR) is currently 36.19%.

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.