Edison International (NYSE:EIX) Upgraded at Zacks Research

Zacks Research upgraded shares of Edison International (NYSE:EIX) from a hold rating to a strong-buy rating in a research note released on Tuesday morning,Zacks.com reports.

A number of other brokerages have also recently issued reports on EIX. Jefferies Financial Group increased their target price on shares of Edison International from $57.00 to $59.00 and gave the stock a “hold” rating in a research report on Wednesday, October 22nd. JPMorgan Chase & Co. raised their price objective on shares of Edison International from $67.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, September 25th. Morgan Stanley raised their price objective on shares of Edison International from $60.00 to $66.00 and gave the stock an “underweight” rating in a report on Wednesday, October 22nd. Barclays dropped their price objective on shares of Edison International from $69.00 to $68.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Edison International in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Edison International presently has a consensus rating of “Hold” and an average price target of $64.30.

Edison International Stock Performance

NYSE:EIX opened at $55.67 on Tuesday. Edison International has a 12-month low of $47.73 and a 12-month high of $88.64. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.95. The firm has a market capitalization of $21.42 billion, a PE ratio of 7.28, a price-to-earnings-growth ratio of 0.83 and a beta of 0.80. The firm has a 50-day moving average price of $55.45 and a 200 day moving average price of $54.48.

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

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, October 7th will be paid a $0.8275 dividend. This represents a $3.31 annualized dividend and a dividend yield of 5.9%. The ex-dividend date of this dividend is Tuesday, October 7th. Edison International’s dividend payout ratio (DPR) is 43.27%.

Institutional Trading of Edison International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Probity Advisors Inc. increased its position in Edison International by 16.9% in the third quarter. Probity Advisors Inc. now owns 10,109 shares of the utilities provider’s stock worth $559,000 after purchasing an additional 1,465 shares during the period. iA Global Asset Management Inc. grew its position in shares of Edison International by 86.8% during the 3rd quarter. iA Global Asset Management Inc. now owns 44,515 shares of the utilities provider’s stock worth $2,461,000 after buying an additional 20,691 shares during the period. Covestor Ltd grew its position in shares of Edison International by 38.8% during the 3rd quarter. Covestor Ltd now owns 5,114 shares of the utilities provider’s stock worth $283,000 after buying an additional 1,429 shares during the period. CVA Family Office LLC grew its holdings in Edison International by 113.7% during the 3rd quarter. CVA Family Office LLC now owns 577 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 307 shares during the period. Finally, Rakuten Investment Management Inc. acquired a new stake in Edison International during the 3rd quarter worth $623,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

About Edison International

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.