CIBC Asset Management Inc Grows Position in Edison International (NYSE:EIX)

CIBC Asset Management Inc lifted its holdings in shares of Edison International (NYSE:EIX) by 3.4% in the second quarter, HoldingsChannel.com reports. The firm owned 33,319 shares of the utilities provider’s stock after acquiring an additional 1,082 shares during the quarter. CIBC Asset Management Inc’s holdings in Edison International were worth $1,927,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Federated Hermes Inc. lifted its stake in Edison International by 17.7% during the 2nd quarter. Federated Hermes Inc. now owns 3,695 shares of the utilities provider’s stock worth $214,000 after acquiring an additional 555 shares in the last quarter. MML Investors Services LLC raised its position in Edison International by 102.3% in the 2nd quarter. MML Investors Services LLC now owns 22,950 shares of the utilities provider’s stock valued at $1,327,000 after purchasing an additional 11,608 shares in the last quarter. Allianz Asset Management GmbH raised its position in Edison International by 18.0% in the 2nd quarter. Allianz Asset Management GmbH now owns 367,952 shares of the utilities provider’s stock valued at $21,276,000 after purchasing an additional 56,004 shares in the last quarter. Seeyond raised its position in Edison International by 19.8% in the 2nd quarter. Seeyond now owns 43,811 shares of the utilities provider’s stock valued at $2,533,000 after purchasing an additional 7,233 shares in the last quarter. Finally, Ossiam raised its position in Edison International by 1,926.6% in the 2nd quarter. Ossiam now owns 21,745 shares of the utilities provider’s stock valued at $1,185,000 after purchasing an additional 20,672 shares in the last quarter. 86.85% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have issued reports on EIX shares. Bank of America lowered Edison International from a “buy” rating to a “neutral” rating and set a $59.00 price target on the stock. in a research report on Tuesday, July 13th. Morgan Stanley reduced their price target on Edison International from $60.00 to $59.00 and set an “equal weight” rating on the stock in a research report on Friday, September 17th. Wells Fargo & Company reduced their price target on Edison International from $72.00 to $70.00 and set an “overweight” rating on the stock in a research report on Friday, September 17th. Finally, TheStreet raised Edison International from a “c” rating to a “b-” rating in a research report on Thursday, July 29th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $66.00.

Shares of NYSE EIX opened at $62.21 on Thursday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.58 and a current ratio of 0.63. Edison International has a fifty-two week low of $53.92 and a fifty-two week high of $66.68. The firm has a market capitalization of $23.62 billion, a PE ratio of 28.94, a price-to-earnings-growth ratio of 3.81 and a beta of 0.59. The stock’s 50-day simple moving average is $57.58 and its 200-day simple moving average is $57.63.

Edison International (NYSE:EIX) last issued its earnings results on Thursday, July 29th. The utilities provider reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.05). Edison International had a return on equity of 11.69% and a net margin of 6.83%. The business had revenue of $3.32 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same period last year, the business posted $1.00 EPS. On average, sell-side analysts forecast that Edison International will post 4.48 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Sunday, October 31st. Investors of record on Thursday, September 30th will be paid a dividend of $0.6625 per share. The ex-dividend date of this dividend is Wednesday, September 29th. This represents a $2.65 dividend on an annualized basis and a yield of 4.26%. Edison International’s dividend payout ratio is presently 58.63%.

Edison International Company Profile

Edison International is a renewable energy company, which through its subsidiaries, generates and distributes electric power, and invests in energy services and technologies. The company was founded on July 4, 1886 and is headquartered in Rosemead, CA.

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Institutional Ownership by Quarter for Edison International (NYSE:EIX)

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