On August 31, Edison plunged 20.21% in regular trading, trading at $55.06 per share, with turnover of $51.16 million, as the broader utility sector faced severe selling pressure.

On the news front, the California legislature amended Senate Bill 492 aimed at reducing wildfire risk and accelerating disaster recovery, triggering a sharp selloff across the utility sector. Peer PG&E Corp tumbled approximately 20% on the same day, reflecting intense sector-wide selling. Compounding the pressure, Mizuho downgraded Edison from Outperform to Neutral and slashed its price target from $86 to $70. This followed earlier downgrades from Argus Research (Buy to Hold on August 26) and Barclays (Overweight to Equalweight on July 31), signaling a broad deterioration in analyst sentiment. The consensus average rating now stands at Hold with a mean target of $74.65.

The tightening wildfire regulatory framework in California, combined with rising interest rates pressuring the bond-like valuation of utility stocks, has significantly eroded risk appetite for the sector. Within the Electric Utilities sector, PG&E Corp fell 20.0%, NextEra fell 1.23%, Oklo Inc. fell 0.85%, Duke fell 0.64%, and Constellation Energy Corp fell 0.17%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)