Edison International (NYSE:EIX) Price Target Raised to $75.00

Edison International (NYSE:EIX) had its price objective raised by JPMorgan Chase & Co. from $74.00 to $75.00 in a report issued on Friday,Benzinga reports. The firm currently has a neutral rating on the utilities provider’s stock.

EIX has been the subject of several other research reports. Wells Fargo & Company reiterated an “underweight” rating and set a $62.00 price target on shares of Edison International in a report on Tuesday, April 21st. Truist Financial started coverage on Edison International in a research note on Monday, April 20th. They issued a “hold” rating and a $82.00 price objective for the company. Wall Street Zen downgraded Edison International from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Morgan Stanley reduced their price objective on Edison International from $71.00 to $70.00 and set an “underweight” rating for the company in a research note on Tuesday, April 21st. Finally, TD Cowen upped their price objective on Edison International from $71.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $72.82.

Edison International Trading Up 0.0%

Shares of Edison International stock opened at $69.91 on Friday. The stock has a fifty day simple moving average of $72.04 and a 200 day simple moving average of $64.29. Edison International has a 12-month low of $47.73 and a 12-month high of $76.21. The company has a market capitalization of $26.90 billion, a P/E ratio of 7.59, a price-to-earnings-growth ratio of 1.21 and a beta of 0.68. The company has a current ratio of 0.74, a quick ratio of 0.68 and a debt-to-equity ratio of 1.98.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.10. Edison International had a return on equity of 14.56% and a net margin of 19.27%.The business had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the prior year, the company posted $1.37 earnings per share. Edison International’s revenue was up 7.7% compared to the same quarter last year. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. On average, sell-side analysts anticipate that Edison International will post 6.12 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Tuesday, April 7th were given a dividend of $0.8775 per share. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend was Tuesday, April 7th. Edison International’s dividend payout ratio is currently 38.11%.

Insider Activity at Edison International

In other news, Director Peter J. Taylor sold 500 shares of the company’s stock in a transaction on Monday, April 13th. The stock was sold at an average price of $75.30, for a total transaction of $37,650.00. Following the transaction, the director owned 34,212 shares of the company’s stock, valued at $2,576,163.60. This represents a 1.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Edison International by 169.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 124,843 shares of the utilities provider’s stock worth $6,901,000 after purchasing an additional 78,531 shares in the last quarter. Versor Investments LP lifted its holdings in Edison International by 55.0% during the 3rd quarter. Versor Investments LP now owns 51,830 shares of the utilities provider’s stock worth $2,865,000 after purchasing an additional 18,381 shares in the last quarter. Gradient Investments LLC lifted its holdings in Edison International by 949.8% during the 4th quarter. Gradient Investments LLC now owns 263,056 shares of the utilities provider’s stock worth $15,789,000 after purchasing an additional 237,999 shares in the last quarter. Nordea Investment Management AB lifted its holdings 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, Convergence Investment Partners LLC lifted its holdings in Edison International by 67.6% during the 3rd quarter. Convergence Investment Partners LLC now owns 27,017 shares of the utilities provider’s stock worth $1,494,000 after purchasing an additional 10,901 shares in the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

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.