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

by · The Markets Daily

Edison International (NYSE:EIX – Get Free Report) had its price target dropped by stock analysts at JPMorgan Chase & Co. from $82.00 to $61.00 in a 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 suggests a potential upside of 9.85% from the company’s current price.

EIX has been the topic of a number of other research reports. Argus reaffirmed a “hold” rating on shares of Edison International in a research report on Wednesday, August 26th. Bank of America lowered Edison International from a “buy” rating to a “neutral” rating and lowered their price target for the company from $81.00 to $51.00 in a research note on Tuesday. Truist Financial cut their price target on Edison International from $81.00 to $77.00 and set a “hold” rating for the company in a report on Tuesday, August 4th. Mizuho reiterated a “neutral” rating and issued a $70.00 price objective (down from $86.00) on shares of Edison International in a research report on Monday. Finally, Barclays restated an “equal weight” rating and set a $75.00 price objective (down from $78.00) on shares of Edison International in a research report on Friday, July 31st. Two investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $65.82.

Get Our Latest Stock Analysis on Edison International

Edison International Trading Down 5.6%

NYSE EIX traded down $3.27 on Wednesday, hitting $55.53. 6,303,261 shares of the company were exchanged, compared to its average volume of 3,324,256. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.66 and a quick ratio of 0.61. Edison International has a twelve month low of $52.00 and a twelve month high of $81.62. The firm has a market capitalization of $21.37 billion, a P/E ratio of 5.72, a price-to-earnings-growth ratio of 4.19 and a beta of 0.62. The company’s 50 day moving average price is $73.66 and its 200-day moving average price is $72.27.

Edison International (NYSE:EIX – Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The utilities provider reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.36. The firm had revenue of $4.36 billion for the quarter, compared to analyst estimates 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 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. Analysts predict that Edison International will post 6.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Edison International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EIX. California State Teachers Retirement System grew its position in shares of Edison International by 7,943.7% during the 2nd 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 period. 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 stake in 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 acquiring an additional 7,521,168 shares during the period. Norges Bank bought a new stake in shares of Edison International in the fourth quarter worth about $339,311,000. Finally, Legal & General Group Plc bought a new stake in shares of Edison International in the second quarter worth about $329,766,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Edison International

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

About Edison International

(Get Free Report)

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.

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