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

Edison International (NYSE:EIX)‘s stock had its “neutral” rating restated by research analysts at JPMorgan Chase & Co. in a research note issued on Wednesday, MarketBeat reports. They presently have a $72.00 price target on the utilities provider’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 39.68% from the company’s current price.

EIX has been the topic of several other research reports. LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective on the stock in a research report on Wednesday, January 15th. Guggenheim cut shares of Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. Morgan Stanley decreased their price objective on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Barclays dropped their target price on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Finally, Jefferies Financial Group started coverage on Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $82.11.

Edison International Stock Performance

Shares of NYSE:EIX opened at $51.55 on Wednesday. The company has a market capitalization of $19.96 billion, a price-to-earnings ratio of 15.12, a PEG ratio of 1.05 and a beta of 0.90. The firm’s 50-day moving average is $68.48 and its 200 day moving average is $78.92. Edison International has a 12 month low of $49.06 and a 12 month high of $88.77. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96.

Hedge Funds Weigh In On Edison International

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Swedbank AB boosted its holdings in shares of Edison International by 3.3% in the 4th quarter. Swedbank AB now owns 523,433 shares of the utilities provider’s stock valued at $41,791,000 after buying an additional 16,614 shares in the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in Edison International during the fourth quarter valued at approximately $235,000. KBC Group NV boosted its stake in Edison International by 23.7% in the fourth quarter. KBC Group NV now owns 61,342 shares of the utilities provider’s stock valued at $4,898,000 after acquiring an additional 11,764 shares in the last quarter. abrdn plc grew its holdings in Edison International by 19.5% in the fourth quarter. abrdn plc now owns 1,695,182 shares of the utilities provider’s stock worth $134,335,000 after purchasing an additional 276,656 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Edison International during the third quarter worth $1,387,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Company Profile

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.