Edison International (NYSE:EIX) Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Edison International (NYSE:EIX) by 1.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 33,977 shares of the utilities provider’s stock after purchasing an additional 592 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Edison International were worth $2,429,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ausbil Investment Management Ltd boosted its stake in Edison International by 54.7% during the fourth quarter. Ausbil Investment Management Ltd now owns 135,099 shares of the utilities provider’s stock worth $9,658,000 after buying an additional 47,784 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Edison International during the fourth quarter worth $11,734,000. Metis Global Partners LLC boosted its stake in Edison International by 1.5% during the third quarter. Metis Global Partners LLC now owns 56,588 shares of the utilities provider’s stock worth $3,581,000 after buying an additional 834 shares during the last quarter. Mackenzie Financial Corp boosted its stake in Edison International by 1.3% during the fourth quarter. Mackenzie Financial Corp now owns 422,747 shares of the utilities provider’s stock worth $30,222,000 after buying an additional 5,220 shares during the last quarter. Finally, Equitable Trust Co. boosted its stake in Edison International by 11.4% during the third quarter. Equitable Trust Co. now owns 14,845 shares of the utilities provider’s stock worth $940,000 after buying an additional 1,518 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Price Performance

EIX stock opened at $70.81 on Wednesday. The company has a current ratio of 0.79, a quick ratio of 0.73 and a debt-to-equity ratio of 1.86. The company has a market capitalization of $27.24 billion, a PE ratio of 22.70 and a beta of 0.96. Edison International has a 12-month low of $58.82 and a 12-month high of $74.92. The business’s fifty day moving average price is $68.70 and its 200 day moving average price is $67.60.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.12. Edison International had a return on equity of 12.63% and a net margin of 8.35%. The firm had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $4.19 billion. During the same quarter in the previous year, the business earned $1.14 EPS. On average, sell-side analysts anticipate that Edison International will post 4.98 EPS for the current year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.78 per share. The ex-dividend date is Wednesday, March 27th. This represents a $3.12 annualized dividend and a yield of 4.41%. Edison International’s dividend payout ratio (DPR) is 100.00%.

Analyst Ratings Changes

Several brokerages have recently commented on EIX. Royal Bank of Canada decreased their price target on Edison International from $81.00 to $80.00 and set an “outperform” rating on the stock in a research note on Thursday, March 7th. Guggenheim raised Edison International from a “neutral” rating to a “buy” rating and upped their price target for the company from $66.00 to $84.00 in a research note on Monday, January 22nd. TheStreet lowered Edison International from a “b” rating to a “c+” rating in a research note on Thursday, February 22nd. Mizuho decreased their price target on Edison International from $76.00 to $75.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. Finally, The Goldman Sachs Group began coverage on Edison International in a research note on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Edison International presently has a consensus rating of “Hold” and an average target price of $73.60.

About Edison International

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.