Wall Street Zen Upgrades Edison International (NYSE:EIX) to Buy

Edison International (NYSE:EIX) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Thursday.

Other analysts also recently issued reports about the company. Morgan Stanley set a $57.00 price objective on Edison International in a report on Wednesday, December 17th. Weiss Ratings restated a “hold (c)” rating on shares of Edison International in a research note on Monday, December 29th. TD Cowen initiated coverage on Edison International in a report on Thursday, October 16th. They issued a “buy” rating and a $71.00 price objective on the stock. Barclays reduced their price objective on Edison International from $69.00 to $68.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 29th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Edison International from $67.00 to $65.00 and set a “neutral” rating for the company in a research report on Friday, December 12th. Six investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $63.50.

Edison International Trading Up 1.5%

NYSE EIX opened at $61.61 on Thursday. The company has a market cap of $23.71 billion, a P/E ratio of 8.05, a P/E/G ratio of 0.89 and a beta of 0.83. Edison International has a 12 month low of $47.73 and a 12 month high of $63.97. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.82 and a quick ratio of 0.76. The company has a 50-day moving average of $58.93 and a 200-day moving average of $56.01.

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 net margin of 17.24% and a return on equity of 13.62%. The firm had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.31 billion. During the same period in the previous year, the firm earned $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. As a group, equities analysts predict that Edison International will post 4.95 earnings per share for the current year.

Insider Buying and Selling

In other Edison International news, Director Peter J. Taylor sold 1,800 shares of the stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $55.27, for a total transaction of $99,486.00. Following the sale, the director directly owned 35,212 shares of the company’s stock, valued at approximately $1,946,167.24. This represents a 4.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Edison International

Several hedge funds have recently made changes to their positions in EIX. LVW Advisors LLC lifted its stake in Edison International by 4.6% in the 4th quarter. LVW Advisors LLC now owns 4,224 shares of the utilities provider’s stock worth $254,000 after acquiring an additional 186 shares in the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its stake in shares of Edison International by 2.7% during the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 7,422 shares of the utilities provider’s stock worth $383,000 after purchasing an additional 196 shares during the last quarter. Kentucky Trust Co raised its holdings in Edison International by 66.7% during the second quarter. Kentucky Trust Co now owns 500 shares of the utilities provider’s stock valued at $26,000 after buying an additional 200 shares in the last quarter. Diligent Investors LLC lifted its holdings in Edison International by 1.5% in the 3rd quarter. Diligent Investors LLC now owns 13,895 shares of the utilities provider’s stock worth $768,000 after purchasing an additional 201 shares during the last quarter. Finally, MAI Capital Management boosted its holdings in shares of Edison International by 20.8% during the 2nd quarter. MAI Capital Management now owns 1,172 shares of the utilities provider’s stock worth $60,000 after buying an additional 202 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Company Profile

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.