Edison International (NYSE:EIX) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Edison International (NYSE:EIX) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

EIX has been the subject of several other research reports. Cowen started coverage on shares of Edison International in a research report on Wednesday, October 15th. They set a “buy” rating for the company. UBS Group upped their target price on shares of Edison International from $66.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, December 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Edison International in a research report on Monday, December 29th. Jefferies Financial Group boosted their price objective on Edison International from $57.00 to $59.00 and gave the stock a “hold” rating in a research note on Wednesday, October 22nd. Finally, Morgan Stanley set a $57.00 price objective on Edison International in a research report on Wednesday, December 17th. Six equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $63.50.

Edison International Trading Up 2.3%

Shares of NYSE:EIX opened at $60.96 on Wednesday. Edison International has a 1 year low of $47.73 and a 1 year high of $70.50. The stock’s fifty day moving average price is $58.63 and its 200-day moving average price is $55.76. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.82 and a quick ratio of 0.76. The company has a market cap of $23.46 billion, a P/E ratio of 7.97, a PEG ratio of 0.87 and a beta of 0.83.

Edison International (NYSE:EIX) last released its quarterly 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 firm had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.31 billion. During the same quarter in the prior year, the firm earned $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. Sell-side analysts expect 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. Investors of record on Wednesday, January 7th will be given a dividend of $0.8775 per share. The ex-dividend date of this dividend is Wednesday, January 7th. This is an increase from Edison International’s previous quarterly dividend of $0.83. This represents a $3.51 dividend on an annualized basis and a yield of 5.8%. Edison International’s dividend payout ratio is 45.88%.

Insiders Place Their Bets

In other Edison International news, Director Peter J. Taylor sold 1,800 shares of the firm’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $55.27, for a total value of $99,486.00. Following the completion of the sale, the director owned 35,212 shares of the company’s stock, valued at approximately $1,946,167.24. This trade represents a 4.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Edison International

A number of institutional investors have recently bought and sold shares of the business. Kentucky Trust Co grew its holdings in Edison International by 66.7% in the second quarter. Kentucky Trust Co now owns 500 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 200 shares during the period. Activest Wealth Management lifted its position in shares of Edison International by 677.8% during the 3rd quarter. Activest Wealth Management now owns 560 shares of the utilities provider’s stock valued at $31,000 after buying an additional 488 shares in the last quarter. CVA Family Office LLC grew its stake in Edison International by 113.7% in the 3rd quarter. CVA Family Office LLC now owns 577 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 307 shares during the period. Ransom Advisory Ltd grew its stake in Edison International by 74.9% in the 4th quarter. Ransom Advisory Ltd now owns 605 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 259 shares during the period. Finally, American National Bank & Trust purchased a new stake in Edison International in the 2nd quarter worth $32,000. 88.95% of the stock is owned by hedge funds and other 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.