Cibc World Market Inc. Invests $1.04 Million in Edison International $EIX

Key Points

• CIBC World Market purchased 14,007 shares of Edison International valued at approximately $1.04 million, while institutional investors collectively own 88.95% of the company.
• Analysts maintain a broadly cautious view: EIX has an average “Hold” rating and a consensus price target of $72.45, below its reported opening price of $73.59.
• Edison International beat quarterly earnings expectations, reporting $1.54 in EPS versus $1.18 expected, but revenue fell 4.1% year over year. The company also pays a quarterly dividend of $0.8775, representing an annualized yield of about 4.8%.

Cibc World Market Inc. purchased a new stake in shares of Edison International (NYSE:EIX - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 14,007 shares of the utilities provider's stock, valued at approximately $1,043,000.

Several other large investors have also recently modified their holdings of EIX. 10Elms LLP purchased a new position in Edison International in the fourth quarter worth about $26,000. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Edison International during the second quarter valued at approximately $26,000. Transamerica Financial Advisors LLC grew its holdings in shares of Edison International by 170.3% during the fourth quarter. Transamerica Financial Advisors LLC now owns 446 shares of the utilities provider's stock valued at $27,000 after buying an additional 281 shares during the last quarter. Groupe la Francaise bought a new stake in shares of Edison International during the first quarter valued at approximately $29,000. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Edison International during the second quarter valued at approximately $30,000. Hedge funds and other institutional investors own 88.95% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on EIX. JPMorgan Chase & Co. boosted their price objective on shares of Edison International from $75.00 to $76.00 and gave the stock a "neutral" rating in a report on Friday, May 15th. Barclays reiterated an "equal weight" rating and set a $75.00 target price (down from $78.00) on shares of Edison International in a research note on Friday, July 31st. Argus reissued a "hold" rating on shares of Edison International in a report on Wednesday. Morgan Stanley decreased their price target on Edison International from $69.00 to $65.00 and set an "underweight" rating for the company in a research note on Friday, August 21st. Finally, Truist Financial decreased their price target on Edison International from $81.00 to $77.00 and set a "hold" rating for the company in a research note on Tuesday, August 4th. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $72.45.

Edison International Stock Performance

Shares of NYSE EIX opened at $73.59 on Friday. The firm's 50-day moving average price is $74.34 and its 200-day moving average price is $72.37. Edison International has a 52-week low of $52.00 and a 52-week high of $81.62. The company has a market cap of $28.32 billion, a PE ratio of 7.59, a PEG ratio of 5.79 and a beta of 0.66. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 1.95.

Edison International (NYSE:EIX - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The utilities provider reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.36. The firm had revenue of $4.36 billion during the quarter, compared to analysts' expectations of $4.82 billion. Edison International had a net margin of 20.30% and a return on equity of 15.53%. The firm's quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.97 earnings per share. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. As a group, analysts anticipate that Edison International will post 6.13 EPS for the current year.

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, July 7th were given a $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend was Tuesday, July 7th. Edison International's payout ratio is 36.19%.

Edison International Company Profile

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE's integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company's operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company's activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.

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