JPMorgan Chase & Co. Cuts Edison International (NYSE:EIX) Price Target to $61.00

Edison International (NYSE:EIX) had its price target lowered by stock analysts at JPMorgan Chase & Co. from $82.00 to $61.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 9.85% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Barclays restated an “equal weight” rating and issued a $75.00 target price (down from $78.00) on shares of Edison International in a report on Friday, July 31st. Truist Financial lowered their target price on Edison International from $81.00 to $77.00 and set a “hold” rating for the company in a research note on Tuesday, August 4th. Bank of America cut Edison International from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $81.00 to $51.00 in a research note on Tuesday. Mizuho restated a “neutral” rating and set a $70.00 target price (down from $86.00) on shares of Edison International in a report on Monday. Finally, Weiss Ratings upgraded Edison International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 27th. Two analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Edison International presently has an average rating of “Reduce” and a consensus price target of $65.82.

Edison International Stock Down 5.6%

Shares of Edison International stock traded down $3.27 on Wednesday, hitting $55.53. The company had a trading volume of 6,303,261 shares, compared to its average volume of 3,324,256. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.61 and a current ratio of 0.66. The stock has a market capitalization of $21.37 billion, a price-to-earnings ratio of 5.72, a P/E/G ratio of 4.19 and a beta of 0.62. The stock has a 50 day moving average of $73.66 and a 200-day moving average of $72.27. Edison International has a 1 year low of $52.00 and a 1 year high of $81.62.

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

Hedge Funds Weigh In On Edison International

Institutional investors and hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System lifted its position 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 worth $4,077,712,000 after buying an additional 54,090,230 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Edison International in the 2nd quarter worth about $3,340,412,000. AQR Capital Management LLC grew its holdings in 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 valued at $1,097,475,000 after purchasing an additional 7,521,168 shares during the last quarter. Norges Bank purchased a new stake in Edison International in the 4th quarter worth about $339,311,000. Finally, Legal & General Group Plc purchased a new position in shares of Edison International during the second quarter valued at approximately $329,766,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International News Summary

Here are the key news stories impacting Edison International this week:

• Positive Sentiment: Unusual options activity showed traders purchasing 23,522 EIX call options, more than five times the average volume. This may reflect speculative expectations for a rebound, although options activity does not change the company’s underlying liability risk.
• Neutral Sentiment: Mizuho assigned Edison International a neutral rating, adding to a cautious analyst stance as investors assess the implications of California’s wildfire policy.
• Negative Sentiment: Bank of America downgraded EIX from “buy” to “neutral” and sharply reduced its price target to $51 from $81, citing the setback for wildfire reform and increased liability exposure. BofA downgrade and wildfire reform setback
• Negative Sentiment: California lawmakers’ failure to advance a bill containing utility liability protections leaves Edison potentially responsible for wildfire-related damages. Southern California Edison is now calling for more comprehensive wildfire reform, underscoring that the regulatory issue remains unresolved. Edison falls after wildfire bill omits protections
• Negative Sentiment: The unresolved liability risk triggered a broad selloff in Edison International and PG&E, with investors reassessing the utilities’ ability to manage wildfire costs and obtain legislative support. EIX is trading close to its 52-week low and well below its 50-day and 200-day moving averages. California wildfire bill and utility stocks

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.