Edison International (NYSE:EIX) Now Covered by TD Cowen

TD Cowen began coverage on shares of Edison International (NYSE:EIX) in a research report report published on Thursday morning, Marketbeat.com reports. The firm issued a buy rating and a $71.00 price target on the utilities provider’s stock.

Several other equities analysts have also recently commented on the stock. Cowen initiated coverage on shares of Edison International in a research report on Wednesday. They set a “buy” rating on the stock. Morgan Stanley reduced their price target on shares of Edison International from $61.00 to $60.00 and set an “underweight” rating on the stock in a research report on Thursday, September 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Edison International in a research report on Wednesday, October 8th. JPMorgan Chase & Co. increased their price target on shares of Edison International from $67.00 to $68.00 and gave the stock a “neutral” rating in a research report on Thursday, September 25th. Finally, Jefferies Financial Group cut shares of Edison International from a “buy” rating to a “hold” rating and reduced their price target for the stock from $70.00 to $57.00 in a research report on Thursday, October 2nd. Seven investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $65.25.

Edison International Stock Down 0.1%

Shares of Edison International stock opened at $56.69 on Thursday. The business has a 50-day moving average of $55.14 and a 200-day moving average of $54.41. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.87 and a quick ratio of 0.81. The company has a market capitalization of $21.82 billion, a PE ratio of 8.32, a P/E/G ratio of 0.97 and a beta of 0.80. Edison International has a 1-year low of $47.73 and a 1-year high of $88.64.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.88 by $0.09. Edison International had a net margin of 16.00% and a return on equity of 11.99%. The business had revenue of $4.54 billion for the quarter, compared to analysts’ expectations of $4.52 billion. During the same quarter last year, the company posted $1.23 earnings per share. The company’s quarterly 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. As a group, equities analysts forecast that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, October 7th will be issued a $0.8275 dividend. The ex-dividend date of this dividend is Tuesday, October 7th. This represents a $3.31 dividend on an annualized basis and a yield of 5.8%. Edison International’s dividend payout ratio (DPR) is currently 48.60%.

Hedge Funds Weigh In On Edison International

A number of large investors have recently bought and sold shares of EIX. Rakuten Securities Inc. lifted its holdings in Edison International by 4,633.3% in the first quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 417 shares during the last quarter. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Edison International during the first quarter valued at approximately $25,000. Investment Management Corp VA ADV raised its holdings in shares of Edison International by 159.6% during the first quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider’s stock valued at $25,000 after buying an additional 265 shares during the last quarter. Kentucky Trust Co raised its holdings 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 valued at $26,000 after buying an additional 200 shares during the last quarter. Finally, American National Bank & Trust bought a new stake in shares of Edison International during the second quarter valued at approximately $32,000. Institutional investors own 88.95% of the company’s stock.

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.