Edison International (NYSE:EIX) Price Target Raised to $68.00 at JPMorgan Chase & Co.

Edison International (NYSE:EIX) had its target price raised by JPMorgan Chase & Co. from $67.00 to $68.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the utilities provider’s stock.

A number of other research firms have also weighed in on EIX. UBS Group lowered their target price on shares of Edison International from $68.00 to $66.00 and set a “buy” rating on the stock in a report on Thursday, September 11th. Barclays upped 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. Wolfe Research lowered shares of Edison International from an “outperform” rating to a “peer perform” rating in a report on Monday, June 9th. Finally, Morgan Stanley increased their price objective on shares of Edison International from $55.00 to $61.00 and gave the company an “underweight” rating in a research note on Thursday, September 18th. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Edison International presently has an average rating of “Hold” and an average target price of $71.75.

Edison International Price Performance

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

Edison International (NYSE:EIX) last posted its earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. Edison International had a net margin of 16.00% and a return on equity of 11.99%. The company had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.52 billion. During the same quarter in the prior year, the business posted $1.23 EPS. The firm’s revenue was up 4.8% compared to the same quarter last year. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. Equities research analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Edison International by 4.9% during the 2nd quarter. Vanguard Group Inc. now owns 51,470,117 shares of the utilities provider’s stock valued at $2,655,858,000 after acquiring an additional 2,386,562 shares during the period. Geode Capital Management LLC grew its position in shares of Edison International by 3.5% during the 2nd quarter. Geode Capital Management LLC now owns 12,136,256 shares of the utilities provider’s stock valued at $638,576,000 after acquiring an additional 407,039 shares during the period. AQR Capital Management LLC grew its position in shares of Edison International by 83.5% during the 2nd quarter. AQR Capital Management LLC now owns 9,962,902 shares of the utilities provider’s stock valued at $510,649,000 after acquiring an additional 4,534,864 shares during the period. Invesco Ltd. grew its position in shares of Edison International by 10.8% during the 2nd quarter. Invesco Ltd. now owns 6,392,459 shares of the utilities provider’s stock valued at $329,851,000 after acquiring an additional 621,924 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Edison International by 111.6% during the 1st quarter. JPMorgan Chase & Co. now owns 5,663,427 shares of the utilities provider’s stock valued at $333,689,000 after acquiring an additional 2,987,318 shares during the period. 88.95% of the stock is owned by 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.