Edison International (NYSE:EIX) Price Target Cut to $71.00 by Analysts at JPMorgan Chase & Co.

Edison International (NYSE:EIX) had its price objective cut by JPMorgan Chase & Co. from $75.00 to $71.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a neutral rating on the utilities provider’s stock.

Several other brokerages also recently commented on EIX. Morgan Stanley restated an “overweight” rating on shares of Edison International in a research note on Wednesday, April 23rd. Mizuho reduced their target price on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Evercore ISI restated an “outperform” rating on shares of Edison International in a research note on Thursday. Guggenheim downgraded shares of Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Finally, Barclays boosted their target price on shares of Edison International from $64.00 to $67.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $76.89.

Edison International Stock Down 1.2%

EIX opened at $57.92 on Monday. Edison International has a fifty-two week low of $49.06 and a fifty-two week high of $88.77. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The firm’s fifty day moving average price is $56.86 and its two-hundred day moving average price is $64.90. The company has a market capitalization of $22.29 billion, a P/E ratio of 16.99, a P/E/G ratio of 1.07 and a beta of 0.77.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.16. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the previous year, the company earned $1.13 earnings per share. The business’s revenue was down 6.5% compared to the same quarter last year. On average, analysts anticipate that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, April 7th were given a dividend of $0.8275 per share. The ex-dividend date was Monday, April 7th. This represents a $3.31 annualized dividend and a yield of 5.71%. Edison International’s dividend payout ratio (DPR) is 46.95%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Edison International by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 49,083,555 shares of the utilities provider’s stock worth $2,892,003,000 after buying an additional 493,778 shares in the last quarter. Geode Capital Management LLC lifted its position in Edison International by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 9,983,519 shares of the utilities provider’s stock worth $795,123,000 after buying an additional 362,999 shares in the last quarter. Invesco Ltd. lifted its position in Edison International by 19.8% during the 1st quarter. Invesco Ltd. now owns 5,770,535 shares of the utilities provider’s stock worth $340,000,000 after buying an additional 953,897 shares in the last quarter. Northern Trust Corp raised its holdings in Edison International by 53.9% during the 4th quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider’s stock worth $459,642,000 after purchasing an additional 2,016,017 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Edison International by 111.6% during the 1st quarter. JPMorgan Chase & Co. now owns 5,663,427 shares of the utilities provider’s stock worth $333,689,000 after purchasing an additional 2,987,318 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Company Profile

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.