Morgan Stanley Cuts Edison International (NYSE:EIX) Price Target to $65.00

Edison International (NYSE:EIX) had its price objective lowered by Morgan Stanley from $69.00 to $65.00 in a research report released on Friday,Benzinga reports. Morgan Stanley currently has an underweight rating on the utilities provider’s stock.

Other analysts have also issued research reports about the company. Mizuho upped their target price on Edison International from $79.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Truist Financial decreased their price target on Edison International from $81.00 to $77.00 and set a “hold” rating for the company in a research note on Tuesday, August 4th. Weiss Ratings lowered Edison International from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, August 12th. Barclays reiterated an “equal weight” rating and set a $75.00 price objective (down from $78.00) on shares of Edison International in a research note on Friday, July 31st. Finally, JPMorgan Chase & Co. increased their price objective on Edison International from $75.00 to $76.00 and gave the company a “neutral” rating in a report on Friday, May 15th. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Edison International currently has a consensus rating of “Hold” and a consensus target price of $72.45.

Edison International Trading Down 0.1%

NYSE EIX opened at $71.51 on Friday. Edison International has a 52 week low of $52.00 and a 52 week high of $81.62. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.61 and a current ratio of 0.66. The stock’s 50 day moving average price is $74.13 and its two-hundred day moving average price is $72.05. The stock has a market capitalization of $27.52 billion, a price-to-earnings ratio of 7.37, a PEG ratio of 5.56 and a beta of 0.66.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, July 30th. The utilities provider reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.36. Edison International had a net margin of 20.30% and a return on equity of 15.53%. The company had revenue of $4.36 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same period last year, the business earned $0.97 EPS. The business’s quarterly revenue was down 4.1% on a year-over-year basis. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. As a group, analysts anticipate that Edison International will post 6.13 earnings per share for the current fiscal year.

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, July 7th were paid a $0.8775 dividend. This represents a $3.51 annualized dividend and a yield of 4.9%. The ex-dividend date was Tuesday, July 7th. Edison International’s dividend payout ratio (DPR) is 36.19%.

Hedge Funds Weigh In On Edison International

A number of institutional investors have recently bought and sold shares of EIX. BlackRock Inc. bought a new stake in Edison International in the 2nd quarter valued at $3,340,412,000. AQR Capital Management LLC boosted its position in Edison International by 69.9% during the fourth quarter. AQR Capital Management LLC now owns 18,285,152 shares of the utilities provider’s stock worth $1,097,475,000 after purchasing an additional 7,521,168 shares during the period. Norges Bank bought a new position in Edison International during the fourth quarter worth $339,311,000. Legal & General Group Plc acquired a new position in shares of Edison International in the second quarter valued at $329,766,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Edison International in the second quarter valued at $309,361,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

About Edison International

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.