Canada Pension Plan Investment Board Purchases 1,289,062 Shares of Edison International $EIX

Key Points

• The Canada Pension Plan Investment Board increased its stake in Edison International by 38.3%, acquiring an additional 1,289,062 shares, bringing its total ownership to 4,658,597 shares worth approximately $274 million.
• Several analysts have issued mixed ratings on Edison International, with a current average rating of "Moderate Buy" and an average target price of $75.21.
• Edison International recently declared a quarterly dividend of $0.8275, resulting in an annualized dividend yield of 6.0% with a payout ratio of 48.60%.

Canada Pension Plan Investment Board grew its stake in Edison International (NYSE:EIX - Free Report) by 38.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,658,597 shares of the utilities provider's stock after purchasing an additional 1,289,062 shares during the quarter. Canada Pension Plan Investment Board owned about 1.21% of Edison International worth $274,485,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in EIX. JPMorgan Chase & Co. lifted its stake in shares of Edison International by 111.6% in the 1st quarter. JPMorgan Chase & Co. now owns 5,663,427 shares of the utilities provider's stock valued at $333,689,000 after purchasing an additional 2,987,318 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Edison International by 149.3% in the 4th quarter. Ameriprise Financial Inc. now owns 2,793,795 shares of the utilities provider's stock valued at $223,057,000 after purchasing an additional 1,673,204 shares during the period. Allianz Asset Management GmbH lifted its stake in shares of Edison International by 1,946.0% in the 1st quarter. Allianz Asset Management GmbH now owns 1,255,449 shares of the utilities provider's stock valued at $73,971,000 after purchasing an additional 1,194,088 shares during the period. Nuveen LLC acquired a new stake in Edison International during the 1st quarter worth $61,916,000. Finally, Invesco Ltd. raised its stake in Edison International by 19.8% during the 1st quarter. Invesco Ltd. now owns 5,770,535 shares of the utilities provider's stock worth $340,000,000 after buying an additional 953,897 shares during the period. Institutional investors and hedge funds own 88.95% of the company's stock.

Edison International Stock Down 1.2%

EIX stock traded down $0.65 during trading hours on Wednesday, reaching $55.14. 1,836,561 shares of the stock were exchanged, compared to its average volume of 4,315,430. The firm's 50-day moving average is $53.26 and its 200-day moving average is $54.52. The company has a market cap of $21.22 billion, a price-to-earnings ratio of 8.09, a PEG ratio of 1.32 and a beta of 0.80. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.87 and a quick ratio of 0.81. Edison International has a 12 month low of $47.73 and a 12 month high of $88.77.

Edison International (NYSE:EIX - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.09. Edison International had a return on equity of 11.99% and a net margin of 16.00%.The company had revenue of $4.54 billion during the quarter, compared to analysts' expectations of $4.52 billion. During the same quarter last year, the company earned $1.23 EPS. Edison International's revenue for the quarter was up 4.8% compared to the same quarter last year. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. On average, equities research analysts expect that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, July 7th were given a dividend of $0.8275 per share. The ex-dividend date was Monday, July 7th. This represents a $3.31 annualized dividend and a yield of 6.0%. Edison International's dividend payout ratio (DPR) is 48.60%.

Wall Street Analyst Weigh In

Several brokerages recently commented on EIX. Barclays raised their price objective on Edison International from $64.00 to $65.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Evercore ISI reaffirmed an "outperform" rating on shares of Edison International in a research note on Thursday, May 15th. Morgan Stanley reaffirmed an "overweight" rating on shares of Edison International in a research note on Thursday, August 21st. JPMorgan Chase & Co. dropped their price objective on Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a research note on Monday, May 19th. Finally, Wolfe Research downgraded Edison International from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $75.21.

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.