We are reaffirming our $78 fair value estimate for Edison International after the company reported earnings per share of $1.13 on an adjusted basis in the first quarter, up from $1.09 in the first quarter of 2023. We are reaffirming our narrow moat rating.
With Edison's $7 billion of planned annual investment during the next four years, we project 7% average annual earnings growth.
Wildfires in California are a significant political and financial risk even with state legislation that offers financial protection.
|
Metric
|
EIX
|
SRE
|
POR
|
|---|---|---|---|
Price/Earnings (Normalized) | 15.80 | 17.41 | 19.91 |
Price/Book Value | 2.16 | 1.75 | 1.34 |
Price/Sales | 1.78 | 3.59 | 1.45 |
Price/Cash Flow | 8.02 | 9.46 | 6.35 |
|
Metric
|
EIX
|
SRE
|
POR
|
|---|---|---|---|
Quick Ratio | 0.46 | 0.37 | 0.66 |
Current Ratio | 1.00 | 0.62 | 1.22 |
Interest Coverage | 1.47 | 2.48 | 2.71 |
|
Metric
|
EIX
|
SRE
|
POR
|
|---|---|---|---|
Return on Assets (Normalized) | 1.19% | 3.54% | 2.27% |
Return on Equity (Normalized) | 7.02% | 10.98% | 7.48% |
Return on Invested Capital (Normalized) | 3.94% | 6.23% | 5.33% |
|
Ticker
|
Name
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|
NEE
| NextEra Energy Inc | Mdhwvtvwj | Wqytd | $156.3 Bil | |
SO
| Southern Co | Tbymqgdph | Pbhfw | $87.0 Bil | |
DUK
| Duke Energy Corp | Lgktvcpv | Xxjjsj | $79.4 Bil | |
NGG
| National Grid PLC ADR | Tzdwybz | Jrqn | $53.6 Bil | |
AEP
| American Electric Power Co Inc | Lmsjzsj | Wjrrgcs | $48.8 Bil | |
PCG
| PG&E Corp | Xzvcjbcf | Dtxg | $48.6 Bil | |
D
| Dominion Energy Inc | Rxdfwnjp | Lpqwkr | $44.8 Bil | |
EXC
| Exelon Corp | Mypxxwpg | Cllbrm | $38.6 Bil | |
PEG
| Public Service Enterprise Group Inc | Twtlfcynw | Qnnszs | $37.1 Bil | |
ED
| Consolidated Edison Inc | Wlywkwqg | Gnpv | $33.6 Bil |
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