Edison International (NYSE:EIX) Cut to “Neutral” at Bank of America

Bank of America downgraded shares of Edison International (NYSE:EIX) from a buy rating to a neutral rating in a research note released on Tuesday, Marketbeat Ratings reports. The brokerage currently has $51.00 price objective on the utilities provider’s stock, down from their prior price objective of $81.00.

A number of other research firms also recently weighed in on EIX. Argus restated a “hold” rating on shares of Edison International in a research report on Wednesday, August 26th. Barclays reiterated an “equal weight” rating and issued a $75.00 price target (down from $78.00) on shares of Edison International in a report on Friday, July 31st. Truist Financial lowered their price objective on Edison International from $81.00 to $77.00 and set a “hold” rating for the company in a research report on Tuesday, August 4th. Mizuho reissued a “neutral” rating and set a $70.00 price objective (down from $86.00) on shares of Edison International in a report on Monday. Finally, JPMorgan Chase & Co. upped their target price on shares of Edison International from $75.00 to $76.00 and gave the company a “neutral” rating in a research report on Friday, May 15th. Two equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $64.55.

Edison International Stock Performance

Shares of Edison International stock opened at $56.29 on Tuesday. 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 firm has a 50 day simple moving average of $72.92 and a 200 day simple moving average of $72.07. Edison International has a fifty-two week low of $52.00 and a fifty-two week high of $81.62. The firm has a market cap of $21.66 billion, a P/E ratio of 5.80, a P/E/G ratio of 2.22 and a beta of 0.62.

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

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, July 7th were paid a $0.8775 dividend. The ex-dividend date of this dividend was Tuesday, July 7th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 6.2%. Edison International’s dividend payout ratio is 36.19%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System increased its holdings in Edison International by 7,943.7% in the second quarter. California State Teachers Retirement System now owns 54,771,153 shares of the utilities provider’s stock valued at $4,077,712,000 after purchasing an additional 54,090,230 shares during the last quarter. BlackRock Inc. bought a new position in Edison International during the second quarter worth about $3,340,412,000. AQR Capital Management LLC grew its position in shares of Edison International by 69.9% during the 4th quarter. AQR Capital Management LLC now owns 18,285,152 shares of the utilities provider’s stock worth $1,097,475,000 after buying an additional 7,521,168 shares during the period. Norges Bank acquired a new position in shares of Edison International during the 4th quarter worth about $339,311,000. Finally, Legal & General Group Plc acquired a new position in shares of Edison International during the 2nd quarter worth about $329,766,000. 88.95% of the stock is currently owned by institutional investors.

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.