Edison International (NYSE:EIX) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Edison International (NYSE:EIX) from a hold rating to a buy rating in a report issued on Sunday morning.

EIX has been the subject of several other research reports. Zacks Research upgraded Edison International from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 28th. Barclays cut their target price on shares of Edison International from $69.00 to $68.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 29th. UBS Group increased their price objective on Edison International from $66.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, December 2nd. Jefferies Financial Group boosted their price objective on shares of Edison International from $57.00 to $59.00 and gave the stock a “hold” rating in a research note on Wednesday, October 22nd. Finally, Morgan Stanley set a $64.00 target price on Edison International in a research note on Thursday, November 20th. One 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. Based on data from MarketBeat.com, Edison International has an average rating of “Hold” and a consensus target price of $64.20.

Edison International Stock Performance

Shares of NYSE EIX opened at $58.30 on Friday. The stock’s 50-day moving average is $56.95 and its 200 day moving average is $54.66. The stock has a market cap of $22.43 billion, a price-to-earnings ratio of 7.62, a P/E/G ratio of 0.87 and a beta of 0.83. Edison International has a 1-year low of $47.73 and a 1-year high of $82.48. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 1.95.

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

Edison International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, January 31st. Investors of record on Wednesday, January 7th will be given a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a yield of 6.0%. This is a positive change from Edison International’s previous quarterly dividend of $0.83. The ex-dividend date is Wednesday, January 7th. Edison International’s dividend payout ratio (DPR) is presently 43.27%.

Insider Activity at Edison International

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

Hedge Funds Weigh In On Edison International

A number of hedge funds have recently modified their holdings of EIX. Kentucky Trust Co raised its stake in Edison International by 66.7% during the 2nd quarter. Kentucky Trust Co now owns 500 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 200 shares during the period. Activest Wealth Management raised its position in Edison International by 677.8% during the third 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 period. CVA Family Office LLC lifted its position in Edison International by 113.7% in the third quarter. CVA Family Office LLC now owns 577 shares of the utilities provider’s stock worth $32,000 after buying an additional 307 shares during the last quarter. American National Bank & Trust purchased a new position in shares of Edison International during the 2nd quarter worth about $32,000. Finally, Laurel Wealth Advisors LLC grew its holdings 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 valued at $37,000 after purchasing an additional 709 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors.

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.