Edison International (NYSE:EIX) Price Target Lowered to $60.00 at Morgan Stanley

Edison International (NYSE:EIX) had its price objective lowered by Morgan Stanley from $61.00 to $60.00 in a report released on Thursday, Marketbeat Ratings reports. The firm currently has an underweight rating on the utilities provider’s stock.

A number of other equities research analysts have also recently commented on the company. JPMorgan Chase & Co. increased their target price on Edison International from $67.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday. UBS Group cut their price objective on shares of Edison International from $68.00 to $66.00 and set a “buy” rating on the stock in a research report on Thursday, September 11th. Barclays lifted their target price on shares of Edison International from $64.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, August 4th. Finally, Wolfe Research cut shares of Edison International from an “outperform” rating to a “peer perform” rating in a report on Monday, June 9th. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $71.75.

Edison International Stock Down 1.8%

NYSE:EIX opened at $54.05 on Thursday. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.87 and a quick ratio of 0.81. The firm’s 50-day moving average price is $54.56 and its 200-day moving average price is $54.72. The company has a market capitalization of $20.80 billion, a PE ratio of 7.94, a P/E/G ratio of 1.29 and a beta of 0.80. Edison International has a 1-year low of $47.73 and a 1-year high of $88.64.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. The company had revenue of $4.54 billion during the quarter, compared to analysts’ expectations of $4.52 billion. Edison International had a net margin of 16.00% and a return on equity of 11.99%. Edison International’s revenue was up 4.8% on a year-over-year basis. During the same period last year, the company posted $1.23 EPS. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. On average, equities analysts predict that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, October 7th will be paid a dividend of $0.8275 per share. The ex-dividend date is Tuesday, October 7th. This represents a $3.31 dividend on an annualized basis and a yield of 6.1%. Edison International’s payout ratio is currently 48.60%.

Hedge Funds Weigh In On Edison International

Institutional investors and hedge funds have recently modified their holdings of the company. Rakuten Securities Inc. increased its position in Edison International by 4,633.3% during the first quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 417 shares during the last quarter. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Edison International during the 1st quarter valued at about $25,000. Investment Management Corp VA ADV increased its position in shares of Edison International by 159.6% during the 1st quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 265 shares during the last quarter. Kentucky Trust Co lifted its stake in shares of Edison International by 66.7% in the 2nd quarter. Kentucky Trust Co now owns 500 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 200 shares during the period. Finally, American National Bank & Trust bought a new position in shares of Edison International in the 2nd quarter worth approximately $32,000. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

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.