Canada Pension Plan Investment Board Acquires New Stake in Edison International $EIX

Canada Pension Plan Investment Board acquired a new stake in Edison International (NYSE:EIX) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 2,848,259 shares of the utilities provider’s stock, valued at approximately $212,053,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. 10Elms LLP purchased a new stake in shares of Edison International during the fourth quarter valued at $26,000. Edmond DE Rothschild Holding S.A. bought a new position in shares of Edison International in the second quarter worth about $26,000. Transamerica Financial Advisors LLC grew its holdings in shares of Edison International by 170.3% in the fourth quarter. Transamerica Financial Advisors LLC now owns 446 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 281 shares during the last quarter. Groupe la Francaise purchased a new position in Edison International in the 1st quarter worth about $29,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new position in Edison International in the 2nd quarter worth about $30,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Stock Performance

EIX stock opened at $74.69 on Thursday. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.66 and a quick ratio of 0.61. The business has a 50-day moving average price of $74.30 and a 200 day moving average price of $72.30. The company has a market capitalization of $28.74 billion, a P/E ratio of 7.70, a PEG ratio of 5.81 and a beta of 0.66. Edison International has a 1-year low of $52.00 and a 1-year high of $81.62.

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

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, July 7th were given a $0.8775 dividend. This represents a $3.51 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend was Tuesday, July 7th. Edison International’s dividend payout ratio is presently 36.19%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Edison International from $75.00 to $76.00 and gave the company a “neutral” rating in a research report on Friday, May 15th. Barclays reaffirmed an “equal weight” rating and set a $75.00 target price (down from $78.00) on shares of Edison International in a research report on Friday, July 31st. Truist Financial decreased their price target on shares of Edison International from $81.00 to $77.00 and set a “hold” rating for the company in a research note on Tuesday, August 4th. Weiss Ratings lowered Edison International from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, August 12th. Finally, Argus reiterated a “hold” rating on shares of Edison International in a report on Wednesday. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Edison International presently has a consensus rating of “Hold” and a consensus target price of $72.45.

About Edison International

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.