Edison International (NYSE:EIX) Price Target Cut to $60.00 by Analysts at Morgan Stanley

Key Points

• Morgan Stanley has lowered its price target for Edison International (NYSE:EIX) from $61.00 to $60.00, maintaining an "underweight" rating.
• The stock is currently trading down 1.7% at $54.12, with an average target price of $71.75 according to analyst consensus.
• Institutional investors hold a significant stake in Edison International, with 88.95% of the company's stock owned by institutions, highlighting strong institutional interest.

Edison International (NYSE:EIX - Get Free Report) had its price objective decreased by equities researchers at Morgan Stanley from $61.00 to $60.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an "underweight" rating on the utilities provider's stock. Morgan Stanley's price objective would indicate a potential upside of 10.86% from the company's previous close.

EIX has been the subject of several other reports. UBS Group decreased their target price on Edison International from $68.00 to $66.00 and set a "buy" rating for the company in a research report on Thursday, September 11th. Barclays boosted their target price on Edison International from $64.00 to $65.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Wolfe Research lowered Edison International from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. Finally, JPMorgan Chase & Co. boosted their target price on Edison International from $67.00 to $68.00 and gave the stock a "neutral" rating in a research report on Thursday. Seven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $71.75.

Edison International Trading Down 1.7%

EIX stock traded down $0.92 during midday trading on Thursday, reaching $54.12. The stock had a trading volume of 898,230 shares, compared to its average volume of 4,247,164. The business has a fifty day simple moving average of $54.51 and a two-hundred day simple moving average of $54.74. The company has a quick ratio of 0.81, a current ratio of 0.87 and a debt-to-equity ratio of 2.03. The firm has a market cap of $20.83 billion, a price-to-earnings ratio of 7.95, a PEG ratio of 1.30 and a beta of 0.80. Edison International has a twelve month low of $47.73 and a twelve month high of $88.64.

Edison International (NYSE:EIX - Get Free Report) last posted its earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.09. The company had revenue of $4.54 billion during the quarter, compared to analyst estimates of $4.52 billion. Edison International had a return on equity of 11.99% and a net margin of 16.00%.The company's revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.23 EPS. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. As a group, research analysts expect that Edison International will post 4.95 EPS for the current fiscal year.

Institutional Investors Weigh In On Edison International

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Edison International by 4.9% during the 2nd quarter. Vanguard Group Inc. now owns 51,470,117 shares of the utilities provider's stock worth $2,655,858,000 after purchasing an additional 2,386,562 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Edison International by 3.5% during the 2nd quarter. Geode Capital Management LLC now owns 12,136,256 shares of the utilities provider's stock worth $638,576,000 after purchasing an additional 407,039 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Edison International by 83.5% during the 2nd quarter. AQR Capital Management LLC now owns 9,962,902 shares of the utilities provider's stock worth $510,649,000 after purchasing an additional 4,534,864 shares in the last quarter. Invesco Ltd. raised its stake in shares of Edison International by 10.8% during the 2nd quarter. Invesco Ltd. now owns 6,392,459 shares of the utilities provider's stock worth $329,851,000 after purchasing an additional 621,924 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Edison International by 111.6% during the 1st quarter. JPMorgan Chase & Co. now owns 5,663,427 shares of the utilities provider's stock worth $333,689,000 after purchasing an additional 2,987,318 shares in the last quarter. Institutional investors own 88.95% of the company's stock.

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.

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