Why Is EDISON INTL (EIX) Stock Down Today?

Edison International stock fell 4.50% to $71.30 in morning trading on Thursday as Morgan Stanley cut its price target for the utility firm. The move followed a report from The Fly that cited the firm’s new $65 target, down from $69. The stock opened at $74.56 but quickly declined throughout the session, reaching a low of $71.26. Despite a brief early rally, the stock closed the morning session at $71.28, with trading volume at 1.3 million shares, more than half the 3-month average.

What Happened

Morgan Stanley revised its price target for EIX to $65, a $4 reduction from its previous target. This adjustment came as part of a broader underweight stance on the stock. Meanwhile, Truist Securities also lowered its price target to $77, maintaining a Hold rating. Call volume for Edison International has been unusually high and directionally bullish, according to The Fly. However, the stock’s decline suggests that the bearish analyst action outweighed the bullish options activity. The stock’s performance was also contrasted with its peers, as MarketWatch noted it outperformed competitors on a strong trading day.

What The Data Shows

Edison International has a market cap of $28.3 billion and a P/E ratio of 7.7, with trailing 12-month revenue up 10.7%. The stock has a dividend yield of 4.78% and a beta of 0.65, indicating defensive characteristics. The stock has traded between $52.00 and $81.62 over the past 52 weeks. Intraday volume has been unusually light, at 0.5 times the 3-month average. Recent insider transactions include one sale of $38,000 by a director. Congressional disclosures show three separate purchases by Donald J. Trump totaling between $1,001 and $50,000. The 52-week tape for the broader market showed 56 fresh 52-week lows on August 21.

What To Watch

Investors should monitor any upcoming earnings reports for Edison International. No specific date is provided, but coverage breadth remains a key factor, with three stories from two sources in the last 36 hours.