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

CIBC Asset Management Inc increased its holdings in Edison International (NYSE:EIX) by 4.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 68,553 shares of the utilities provider’s stock after purchasing an additional 2,866 shares during the quarter. CIBC Asset Management Inc’s holdings in Edison International were worth $5,473,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in EIX. FMR LLC boosted its position in shares of Edison International by 8.7% in the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock worth $1,898,638,000 after buying an additional 1,741,835 shares in the last quarter. abrdn plc boosted its position in shares of Edison International by 166.4% in the 3rd quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock worth $123,149,000 after buying an additional 885,955 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of Edison International by 117.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 781,736 shares of the utilities provider’s stock worth $68,081,000 after buying an additional 422,752 shares in the last quarter. AustralianSuper Pty Ltd purchased a new stake in shares of Edison International in the 4th quarter worth about $31,877,000. Finally, Miller Howard Investments Inc. NY boosted its position in shares of Edison International by 565.5% in the 4th quarter. Miller Howard Investments Inc. NY now owns 343,190 shares of the utilities provider’s stock worth $27,400,000 after buying an additional 291,619 shares in the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price on the stock in a report on Wednesday, January 15th. Wells Fargo & Company upped their target price on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Jefferies Financial Group assumed coverage on shares of Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price on the stock. Barclays reduced their target price on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Finally, Guggenheim lowered shares of Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Edison International has an average rating of “Moderate Buy” and an average target price of $80.11.

Edison International Stock Up 2.1 %

EIX opened at $52.39 on Thursday. The firm has a 50 day moving average price of $65.84 and a 200 day moving average price of $78.08. The company has a market cap of $20.28 billion, a PE ratio of 15.36, a price-to-earnings-growth ratio of 1.03 and a beta of 0.90. Edison International has a 1 year low of $49.06 and a 1 year high of $88.77. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88.

Edison International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, January 7th were given a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a yield of 6.32%. The ex-dividend date was Tuesday, January 7th. This is an increase from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio is 97.07%.

Edison International 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.