Edison International (NYSE:EIX) Downgraded to “Hold” Rating by Wall Street Zen

Edison International (NYSE:EIX) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

EIX has been the subject of a number of other reports. JPMorgan Chase & Co. upped their price objective on shares of Edison International from $65.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 28th. Wells Fargo & Company cut shares of Edison International from an “equal weight” rating to an “underweight” rating and boosted their target price for the stock from $56.00 to $59.00 in a research note on Tuesday, January 20th. Barclays decreased their price target on shares of Edison International from $68.00 to $67.00 and set an “overweight” rating on the stock in a research note on Thursday, January 22nd. UBS Group lowered Edison International from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $70.00 to $78.00 in a research note on Friday. Finally, Zacks Research cut Edison International from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. Four equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $64.10.

Edison International Trading Up 3.4%

Shares of EIX stock opened at $71.43 on Friday. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.82 and a quick ratio of 0.76. The company has a market cap of $27.48 billion, a price-to-earnings ratio of 9.34, a PEG ratio of 1.01 and a beta of 0.82. The stock has a 50 day simple moving average of $61.15 and a 200-day simple moving average of $57.74. Edison International has a 1-year low of $47.73 and a 1-year high of $71.61.

Hedge Funds Weigh In On Edison International

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CreativeOne Wealth LLC increased its stake in shares of Edison International by 22.1% in the 4th quarter. CreativeOne Wealth LLC now owns 8,350 shares of the utilities provider’s stock worth $501,000 after acquiring an additional 1,514 shares during the last quarter. Kestra Advisory Services LLC grew its holdings in shares of Edison International by 6.7% in the fourth quarter. Kestra Advisory Services LLC now owns 26,505 shares of the utilities provider’s stock valued at $1,591,000 after purchasing an additional 1,667 shares during the period. Transamerica Financial Advisors LLC increased its position in Edison International by 170.3% during the fourth quarter. Transamerica Financial Advisors LLC now owns 446 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 281 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in Edison International by 4.9% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 823,447 shares of the utilities provider’s stock worth $49,458,000 after purchasing an additional 38,616 shares during the last quarter. Finally, AlTi Global Inc. purchased a new position in Edison International during the fourth quarter worth about $6,032,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

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.