CIBC Asset Management Inc increased its position on Edison International (NYSE: EIX – Get Rating) by 43.5% in the third quarter, according to its latest SEC filing. The fund owned 66,866 shares of the utility provider after he acquired an additional 20,269 shares during the quarter. CIBC Asset Management Inc’s Edison International holdings were valued at $3,783,000 as of the latest SEC filing.
Other big investors have increased or decreased their stakes in the company recently. Fifth Third Bancorp increased its position in Edison International shares by 3.6% in the third quarter. He owns 8,484 shares in a utility company valued at $480,000 after Fifth Third Bancorp purchased an additional 297 shares during this period. Cetera Investment Advisers increased his holding of Edison International shares by 34.8% in the second quarter. Cetera Investment Advisers now owns 9,322 shares of the utility company worth $590,000 after purchasing an additional 2,406 shares of him last quarter. Martingale Asset Management LP boosted its Edison International stock position by 30.8% in the second quarter. Martingale Asset Management LP now owns 8,512 shares of the utility company valued at $539,000 after acquiring an additional 2,006 shares during this period. Barclays PLC increased its stake in Edison International by 30.9% in the third quarter. Barclays PLC owns 449,187 shares in the utility company valued at $25,412,000 after acquiring an additional 106,084 shares in the previous quarter. Finally, Avantax Advisory Services Inc. increased its Edison International holding by 30.5% in the second quarter. Avantax Advisory Services Inc. now owns 8,346 shares of the utility company valued at $528,000 after acquiring an additional 1,953 shares during this period. Hedge funds and other institutional investors own 87.19% of the company’s shares.
Edison International stock performance
Edison International shares opened at $67.03 on Tuesday. Edison International has a 12-month low of $54.45 and a 12-month high of $73.32. The company has a quick ratio of 0.55, a current ratio of 0.60 and a debt to equity ratio of 1.64. The company has a market capitalization of $25.6 billion, a P/E ratio of 35.47, a PEG ratio of 5.46 and a beta of 0.75. The stock has a 50-day moving average of $65.33 and a 200-day moving average of $64.22.
Edison International (NYSE:EIX – Get Rating) last released quarterly earnings data on Tuesday, November 1. The utility provider reported his EPS of $1.48 for the quarter, meeting the $1.48 consensus estimate. Edison International had a net profit margin of 4.99% and a return on equity of 11.66%. The company posted $5.23 billion in revenue for the quarter, compared to consensus expectations of $4.99 billion. On average, equity research analysts expect Edison International to earn his earnings per share of 4.56 for the current year.
Edison International increases dividend
The company recently announced a quarterly dividend payable on Tuesday, January 31st. Shareholders of record on Friday, December 30 will receive a dividend of $0.7375. This is a positive change from Edison International’s previous quarterly dividend of $0.70. The ex-dividend date is Thursday, December 29. This represents his $2.95 dividend and his 4.40% yield on an annual basis. Edison International has a payout percentage of 156.09%.
Wall Street analyst opinion
Many research firms are involved in EIX. Mizuho lowered its Edison International price target from $71.00 to $58.00, giving the stock a “neutral” rating, in a research report on Monday, November 7. UBS Group upgraded Edison International’s stock from a ‘neutral’ rating to a ‘buy’ rating and raised its price target from $69.00 to $75.00 in its research notes on Tuesday, January 3. Guggenheim lowered its price target on Edison International shares to $66.00 from $82.00 in its research notes on Monday, October 24. StockNews.com downgraded Edison International’s rating from ‘hold’ to ‘sell’ in its research report on Friday, December 23rd. Finally, Morgan Stanley raised its price target for Edison International from his $58.00 to his $59.00, giving the company an “underweight” rating in Monday’s report. Three analysts rated the stock with a sell rating, four issued hold ratings, and three analysts issued buy ratings for the company. Based on MarketBeat data, the company’s current average rating is “Hold” with an average price target of $69.27.
Edison International Profile
(get rating)
Edison International is a renewable energy company that produces and distributes electricity through subsidiaries and invests in energy services and technology. The company was founded on his July 4, 1886 and is headquartered in Rosemead, California.
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