Edison International (NYSE:EIX) Given “Neutral” Rating at JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their neutral rating on shares of Edison International (NYSE:EIX) in a research note issued to investors on Wednesday, Marketbeat Ratings reports. They currently have a $72.00 price target on the utilities provider’s stock.

Several other research firms have also commented on EIX. Wells Fargo & Company lifted their price target on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. UBS Group reduced their price target on Edison International from $87.00 to $69.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Barclays reduced their price target on Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Morgan Stanley reduced their price target on Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Finally, Guggenheim lowered Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $82.11.

Edison International Trading Up 3.8 %

Shares of EIX opened at $52.72 on Wednesday. Edison International has a 52-week low of $49.06 and a 52-week high of $88.77. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The firm’s fifty day moving average is $69.11 and its two-hundred day moving average is $79.10. The stock has a market cap of $20.41 billion, a PE ratio of 15.46, a price-to-earnings-growth ratio of 1.05 and a beta of 0.90.

Edison International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th were given a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a dividend yield of 6.28%. The ex-dividend date of this dividend was Tuesday, January 7th. This is a boost from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio is currently 97.07%.

Institutional Trading of Edison International

Several hedge funds have recently made changes to their positions in EIX. Norges Bank acquired a new stake in shares of Edison International during the fourth quarter worth about $323,443,000. FMR LLC lifted its position in shares of Edison International by 8.7% during the third quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock worth $1,898,638,000 after purchasing an additional 1,741,835 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Edison International by 3.3% during the fourth quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider’s stock worth $3,879,408,000 after buying an additional 1,559,501 shares during the period. abrdn plc increased its stake in shares of Edison International by 166.4% during the third quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock worth $123,149,000 after buying an additional 885,955 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Edison International during the fourth quarter worth approximately $39,344,000. Institutional investors and hedge funds 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.