Edison International (NYSE:EIX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Edison International (NYSE:EIX) from a hold rating to a buy rating in a report issued on Thursday morning.

A number of other analysts have also recently commented on EIX. Morgan Stanley set a $57.00 target price on shares of Edison International in a research note on Wednesday, December 17th. Barclays lowered their price objective on shares of Edison International from $69.00 to $68.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. UBS Group upped their target price on Edison International from $66.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, December 2nd. Cowen started coverage on Edison International in a research note on Wednesday, October 15th. They issued a “buy” rating for the company. Finally, Wells Fargo & Company upgraded Edison International to a “hold” rating in a research note on Tuesday, October 28th. Six analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $63.50.

Edison International Stock Performance

Shares of EIX stock opened at $62.48 on Thursday. Edison International has a 12-month low of $47.73 and a 12-month high of $63.97. The business’s fifty day simple moving average is $59.14 and its 200-day simple moving average is $56.14. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 1.95. The company has a market cap of $24.04 billion, a PE ratio of 8.17, a PEG ratio of 0.91 and a beta of 0.83.

Edison International (NYSE:EIX) last announced its earnings results on Tuesday, October 28th. The utilities provider reported $2.34 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.18. The firm had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.31 billion. Edison International had a return on equity of 13.62% and a net margin of 17.24%.The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.51 EPS. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. Analysts expect that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Increases Dividend

The business also recently declared 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. This is an increase from Edison International’s previous quarterly dividend of $0.83. This represents a $3.51 annualized dividend and a yield of 5.6%. The ex-dividend date is Wednesday, January 7th. Edison International’s dividend payout ratio (DPR) is 45.88%.

Insider Transactions at Edison International

In other Edison International news, Director Peter J. Taylor sold 1,800 shares of the business’s stock in a transaction that occurred on 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 transaction, the director directly owned 35,212 shares of the company’s stock, valued at approximately $1,946,167.24. The trade was a 4.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Edison International

Several large investors have recently made changes to their positions in EIX. Maryland State Retirement & Pension System grew its stake in shares of Edison International by 5.3% in the second quarter. Maryland State Retirement & Pension System now owns 364,525 shares of the utilities provider’s stock worth $18,809,000 after acquiring an additional 18,412 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Edison International by 7.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 132,866 shares of the utilities provider’s stock valued at $6,982,000 after purchasing an additional 9,015 shares during the period. Chicago Partners Investment Group LLC acquired a new position in Edison International during the 2nd quarter worth $456,000. Nordea Investment Management AB grew its stake in Edison International by 1.7% during the 3rd quarter. Nordea Investment Management AB now owns 1,695,550 shares of the utilities provider’s stock worth $92,984,000 after purchasing an additional 28,586 shares in the last quarter. Finally, Moody National Bank Trust Division increased its holdings in Edison International by 107.2% during the 2nd quarter. Moody National Bank Trust Division now owns 23,573 shares of the utilities provider’s stock worth $1,216,000 after purchasing an additional 12,195 shares during the period. 88.95% of the stock is currently owned by institutional investors and hedge funds.

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.