CIBC Asset Management Inc Boosts Holdings in Edison International (NYSE:EIX)

CIBC Asset Management Inc grew its holdings in Edison International (NYSE:EIX) by 4.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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 hedge funds and other institutional investors have also made changes to their positions in EIX. Lake Street Advisors Group LLC raised its holdings in Edison International by 4.3% during the third quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock worth $263,000 after purchasing an additional 124 shares in the last quarter. Baker Tilly Wealth Management LLC raised its holdings in Edison International by 2.8% during the third quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock worth $416,000 after purchasing an additional 129 shares in the last quarter. SFE Investment Counsel raised its holdings in Edison International by 0.3% during the third quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock worth $3,721,000 after purchasing an additional 130 shares in the last quarter. Assetmark Inc. raised its holdings in Edison International by 32.9% during the third quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock worth $55,000 after purchasing an additional 157 shares in the last quarter. Finally, Centennial Wealth Advisory LLC raised its holdings in Edison International by 3.3% during the third quarter. Centennial Wealth Advisory LLC now owns 5,378 shares of the utilities provider’s stock worth $468,000 after purchasing an additional 172 shares in the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Wall Street Analysts Forecast Growth

EIX has been the topic of a number of recent research reports. UBS Group raised shares of Edison International from a “neutral” rating to a “buy” rating and cut their target price for the company from $69.00 to $65.00 in a report on Tuesday. Wells Fargo & Company lifted 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. Barclays cut 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. Jefferies Financial Group initiated 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. Finally, Guggenheim cut shares of Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Edison International has a consensus rating of “Moderate Buy” and an average price target of $80.11.

Edison International Price Performance

Shares of NYSE EIX opened at $52.39 on Thursday. The firm has a market capitalization of $20.28 billion, a P/E ratio of 15.36, a PEG ratio of 1.03 and a beta of 0.90. Edison International has a one year low of $49.06 and a one year high of $88.77. The company’s fifty day moving average is $65.84 and its two-hundred day moving average is $78.08. 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 business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th were given a dividend of $0.8275 per share. This is a positive change from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 annualized dividend and a dividend yield of 6.32%. The ex-dividend date of this dividend was Tuesday, January 7th. Edison International’s payout ratio is presently 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.