Wall Street Zen Upgrades Edison International (NYSE:EIX) to Buy

Edison International (NYSE:EIX) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. upped their price target on shares of Edison International from $67.00 to $68.00 and gave the company a “neutral” rating in a report on Thursday, September 25th. UBS Group reduced their price target on shares of Edison International from $68.00 to $66.00 and set a “buy” rating for the company in a report on Thursday, September 11th. LADENBURG THALM/SH SH upped their price target on shares of Edison International from $52.50 to $55.00 and gave the company a “neutral” rating in a report on Thursday. Jefferies Financial Group increased their target price on shares of Edison International from $57.00 to $59.00 and gave the stock a “hold” rating in a report on Wednesday, October 22nd. Finally, Wells Fargo & Company upgraded shares of Edison International to a “hold” rating in a report on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $64.30.

Edison International Stock Down 0.4%

Edison International stock opened at $55.40 on Friday. The stock has a market capitalization of $21.32 billion, a PE ratio of 7.24, a price-to-earnings-growth ratio of 0.83 and a beta of 0.80. Edison International has a twelve month low of $47.73 and a twelve month high of $88.64. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.95. The company has a 50 day moving average of $55.44 and a 200-day moving average of $54.44.

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

Insider Transactions at Edison International

In other Edison International news, Director Peter J. Taylor sold 1,800 shares of the company’s stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $55.27, for a total transaction of $99,486.00. Following the sale, the director directly owned 35,212 shares of the company’s stock, 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 available through this hyperlink. Company insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Edison International

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Edison International by 4.9% during the second quarter. Vanguard Group Inc. now owns 51,470,117 shares of the utilities provider’s stock worth $2,655,858,000 after acquiring an additional 2,386,562 shares during the period. Geode Capital Management LLC grew its stake in Edison International by 3.5% during the second quarter. Geode Capital Management LLC now owns 12,136,256 shares of the utilities provider’s stock worth $638,576,000 after buying an additional 407,039 shares in the last quarter. AQR Capital Management LLC grew its stake in Edison International by 83.5% during the second quarter. AQR Capital Management LLC now owns 9,962,902 shares of the utilities provider’s stock worth $510,649,000 after buying an additional 4,534,864 shares in the last quarter. Invesco Ltd. grew its stake in Edison International by 10.8% during the second quarter. Invesco Ltd. now owns 6,392,459 shares of the utilities provider’s stock worth $329,851,000 after buying an additional 621,924 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Edison International by 111.6% during the first quarter. JPMorgan Chase & Co. now owns 5,663,427 shares of the utilities provider’s stock worth $333,689,000 after buying an additional 2,987,318 shares in the last quarter. 88.95% of the stock is owned by institutional investors.

About Edison International

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.