Sumitomo Mitsui DS Asset Management Company Ltd Grows Holdings in Edison International (NYSE:EIX)

Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Edison International (NYSE:EIX) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,977 shares of the utilities provider’s stock after purchasing an additional 592 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Edison International were worth $2,429,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of EIX. Deutsche Bank AG increased its stake in Edison International by 266.3% in the third quarter. Deutsche Bank AG now owns 4,309,133 shares of the utilities provider’s stock worth $272,725,000 after purchasing an additional 3,132,877 shares during the period. Clearbridge Investments LLC increased its stake in Edison International by 8.9% in the third quarter. Clearbridge Investments LLC now owns 6,830,749 shares of the utilities provider’s stock worth $432,318,000 after purchasing an additional 558,351 shares during the period. Ameriprise Financial Inc. increased its stake in Edison International by 166.3% in the third quarter. Ameriprise Financial Inc. now owns 750,442 shares of the utilities provider’s stock worth $47,523,000 after purchasing an additional 468,594 shares during the period. Wellington Management Group LLP increased its stake in Edison International by 3.3% in the third quarter. Wellington Management Group LLP now owns 9,842,171 shares of the utilities provider’s stock worth $622,911,000 after purchasing an additional 317,297 shares during the period. Finally, UBS Group AG increased its stake in Edison International by 80.0% in the third quarter. UBS Group AG now owns 686,253 shares of the utilities provider’s stock worth $43,433,000 after purchasing an additional 304,926 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Price Performance

Shares of EIX stock opened at $70.81 on Wednesday. Edison International has a 1-year low of $58.82 and a 1-year high of $74.92. The stock’s 50-day moving average is $68.70 and its 200 day moving average is $67.60. The company has a market cap of $27.24 billion, a P/E ratio of 22.70 and a beta of 0.96. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.79 and a quick ratio of 0.73.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.12. Edison International had a return on equity of 12.63% and a net margin of 8.35%. The company had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $4.19 billion. During the same quarter last year, the company earned $1.14 earnings per share. Research analysts predict that Edison International will post 4.98 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The firm 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 $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 4.41%. The ex-dividend date is Wednesday, March 27th. Edison International’s dividend payout ratio is presently 100.00%.

Analyst Ratings Changes

EIX has been the topic of several research reports. The Goldman Sachs Group initiated coverage on Edison International in a research note on Wednesday, April 10th. They set a “neutral” rating and a $78.00 price target on the stock. StockNews.com upgraded Edison International from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. Guggenheim upgraded Edison International from a “neutral” rating to a “buy” rating and raised their price target for the company from $66.00 to $84.00 in a research note on Monday, January 22nd. Royal Bank of Canada cut 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. Finally, Mizuho cut 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. One investment 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. According to data from MarketBeat, the company currently 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.