Edison International (NYSE:EIX) Given New $65.00 Price Target at Morgan Stanley

Edison International (NYSE:EIX) had its target price reduced by investment analysts at Morgan Stanley from $69.00 to $65.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “underweight” rating on the utilities provider’s stock. Morgan Stanley’s price objective suggests a potential downside of 9.63% from the company’s previous close.

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

Edison International Price Performance

EIX traded down $2.73 on Friday, reaching $71.93. 810,812 shares of the company’s stock were exchanged, compared to its average volume of 3,012,083. Edison International has a twelve month low of $52.00 and a twelve month high of $81.62. The stock has a market cap of $27.68 billion, a PE ratio of 7.42, a P/E/G ratio of 5.70 and a beta of 0.66. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.66 and a quick ratio of 0.61. The stock’s fifty day moving average price is $74.16 and its 200-day moving average price is $71.98.

Edison International (NYSE:EIX) last released its quarterly earnings data on Thursday, July 30th. The utilities provider reported $1.54 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $4.82 billion. During the same quarter in the prior year, the firm earned $0.97 EPS. Edison International’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. Sell-side analysts expect that Edison International will post 6.13 EPS for the current year.

Hedge Funds Weigh In On Edison International

Several large investors have recently made changes to their positions in EIX. Vanguard Group Inc. increased its holdings in Edison International by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 52,220,399 shares of the utilities provider’s stock valued at $3,134,268,000 after purchasing an additional 480,726 shares during the last quarter. BlackRock Inc. acquired a new position in Edison International during the second quarter worth $3,340,412,000. State Street Corp boosted its position in shares of Edison International by 3.0% during the fourth quarter. State Street Corp now owns 33,141,204 shares of the utilities provider’s stock worth $1,989,135,000 after buying an additional 953,800 shares during the period. AQR Capital Management LLC grew its stake in shares of Edison International by 69.9% in the fourth quarter. AQR Capital Management LLC now owns 18,285,152 shares of the utilities provider’s stock valued at $1,097,475,000 after buying an additional 7,521,168 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Edison International by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 13,018,379 shares of the utilities provider’s stock valued at $803,407,000 after buying an additional 386,905 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

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.