Bank of America Cuts Edison International (NYSE:EIX) Price Target to $78.00

Edison International (NYSE:EIX) had its price objective trimmed by Bank of America from $80.00 to $78.00 in a research note published on Monday,Benzinga reports. The firm currently has a buy rating on the utilities provider’s stock.

A number of other brokerages have also recently commented on EIX. Weiss Ratings raised Edison International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, April 15th. TD Cowen upped their price target on Edison International from $71.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, February 20th. JPMorgan Chase & Co. upped their price target on Edison International from $66.00 to $74.00 and gave the company a “neutral” rating in a research note on Wednesday, March 18th. Wells Fargo & Company cut Edison International from an “equal weight” rating to an “underweight” rating and boosted their target price for the company from $56.00 to $59.00 in a research note on Tuesday, January 20th. Finally, Wall Street Zen cut Edison International from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Five investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Edison International has an average rating of “Hold” and an average target price of $72.82.

Edison International Stock Performance

Shares of EIX stock opened at $69.37 on Monday. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.73 and a quick ratio of 0.68. The stock has a market cap of $26.70 billion, a PE ratio of 6.00, a price-to-earnings-growth ratio of 1.21 and a beta of 0.77. The stock has a 50-day moving average of $72.29 and a 200-day moving average of $63.58. Edison International has a one year low of $47.73 and a one year high of $76.21.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Wednesday, February 18th. The utilities provider reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.40. The company had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $4.29 billion. Edison International had a return on equity of 14.87% and a net margin of 24.34%.During the same period in the prior year, the business posted $1.05 EPS. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS and its FY 2027 guidance at 6.250-6.650 EPS. As a group, sell-side analysts expect that Edison International will post 6.13 earnings per share for the current year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, April 7th will be paid a $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend is Tuesday, April 7th. Edison International’s payout ratio is presently 30.36%.

Insider Transactions at Edison International

In other news, Director Peter J. Taylor sold 500 shares of the business’s stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $75.30, for a total value of $37,650.00. Following the sale, the director directly owned 34,212 shares in the company, valued at $2,576,163.60. The trade was a 1.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.20% of the company’s stock.

Institutional Trading of Edison International

A number of institutional investors have recently modified their holdings of EIX. AQR Capital Management LLC lifted its holdings 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 purchasing an additional 7,521,168 shares in the last quarter. Norges Bank bought a new stake in shares of Edison International in the fourth quarter valued at about $339,311,000. Goldman Sachs Group Inc. lifted its holdings in shares of Edison International by 41.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,496,907 shares of the utilities provider’s stock valued at $329,924,000 after purchasing an additional 1,609,847 shares in the last quarter. SG Americas Securities LLC raised its holdings in Edison International by 2,970.8% during the fourth quarter. SG Americas Securities LLC now owns 1,297,280 shares of the utilities provider’s stock worth $77,863,000 after acquiring an additional 1,255,034 shares in the last quarter. Finally, Man Group plc raised its holdings in Edison International by 109.6% during the second quarter. Man Group plc now owns 2,314,124 shares of the utilities provider’s stock worth $119,409,000 after acquiring an additional 1,209,964 shares in the last quarter. 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.