JPMorgan Chase & Co. Cuts Edison International (NYSE:EIX) Price Target to $65.00

Edison International (NYSE:EIX) had its target price reduced by JPMorgan Chase & Co. from $67.00 to $65.00 in a report released on Friday morning,Benzinga reports. They currently have a neutral rating on the utilities provider’s stock.

A number of other research firms have also weighed in on EIX. Weiss Ratings restated a “hold (c)” rating on shares of Edison International in a research note on Monday, December 8th. LADENBURG THALM/SH SH boosted their price target on shares of Edison International from $52.50 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. UBS Group increased their price objective on shares of Edison International from $66.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, December 2nd. Barclays reduced their price objective on shares of Edison International from $69.00 to $68.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. Finally, Cowen assumed coverage on shares of Edison International in a research note on Wednesday, October 15th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $64.20.

Edison International Stock Performance

Shares of EIX stock opened at $58.30 on Friday. The firm has a 50 day moving average of $56.95 and a two-hundred day moving average of $54.66. The stock has a market capitalization of $22.43 billion, a PE ratio of 7.62, a P/E/G ratio of 0.87 and a beta of 0.83. The company has a quick ratio of 0.76, a current ratio of 0.82 and a debt-to-equity ratio of 1.95. Edison International has a 52 week low of $47.73 and a 52 week high of $82.48.

Edison International (NYSE:EIX) last released its earnings results on Tuesday, October 28th. The utilities provider reported $2.34 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.31 billion. During the same period last year, the business posted $1.51 earnings per share. Edison International’s 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. On average, research analysts predict that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, January 31st. Shareholders of record on Wednesday, January 7th will be issued a dividend of $0.8775 per share. The ex-dividend date of this dividend is Wednesday, January 7th. This is a positive change from Edison International’s previous quarterly dividend of $0.83. This represents a $3.51 annualized dividend and a dividend yield of 6.0%. Edison International’s dividend payout ratio is 43.27%.

Insider Activity at Edison International

In other news, Director Peter J. Taylor sold 1,800 shares of the business’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $55.27, for a total value of $99,486.00. Following the completion of the sale, the director directly owned 35,212 shares of the company’s stock, valued at approximately $1,946,167.24. The trade was a 4.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Kentucky Trust Co grew its position in shares of Edison International by 66.7% during the second quarter. Kentucky Trust Co now owns 500 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 200 shares during the last quarter. Activest Wealth Management raised its position in Edison International by 677.8% in the 3rd quarter. Activest Wealth Management now owns 560 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 488 shares during the last quarter. American National Bank & Trust acquired a new stake in Edison International during the 2nd quarter worth $32,000. CVA Family Office LLC grew its position 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 purchasing an additional 307 shares during the last quarter. Finally, Laurel Wealth Advisors LLC grew its position in Edison International by 5,064.3% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 723 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 709 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.