Sumitomo Mitsui Trust Holdings Inc. Reduces Stock Holdings in Edison International (NYSE:EIX)

Sumitomo Mitsui Trust Holdings Inc. lessened its position in shares of Edison International (NYSE:EIX) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 913,926 shares of the utilities provider’s stock after selling 18,669 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.24% of Edison International worth $65,337,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. RVW Wealth LLC acquired a new position in shares of Edison International in the third quarter valued at about $25,000. Bruce G. Allen Investments LLC acquired a new position in shares of Edison International in the fourth quarter valued at about $27,000. WASHINGTON TRUST Co increased its holdings in shares of Edison International by 117.4% in the fourth quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 270 shares during the period. Ancora Advisors LLC acquired a new position in shares of Edison International in the first quarter valued at about $41,000. Finally, Lindbrook Capital LLC increased its holdings in shares of Edison International by 144.4% in the third quarter. Lindbrook Capital LLC now owns 672 shares of the utilities provider’s stock valued at $43,000 after purchasing an additional 397 shares during the period. 88.95% of the stock is owned by institutional investors and hedge funds.

Edison International Stock Performance

NYSE EIX opened at $68.13 on Friday. The company has a market cap of $26.21 billion, a PE ratio of 21.84 and a beta of 0.96. The stock’s 50 day simple moving average is $68.36 and its 200-day simple moving average is $67.32. Edison International has a 1-year low of $58.82 and a 1-year high of $74.92. 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 released its earnings results on Thursday, February 22nd. The utilities provider reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.12. The business had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $4.19 billion. Edison International had a return on equity of 12.63% and a net margin of 8.35%. During the same quarter last year, the business posted $1.14 earnings per share. As a group, equities research analysts anticipate that Edison International will post 5.01 EPS for the current fiscal year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.12 annualized dividend and a dividend yield of 4.58%. Edison International’s dividend payout ratio is presently 100.00%.

Wall Street Analyst Weigh In

EIX has been the topic of a number of research reports. Barclays increased their price objective on Edison International from $69.00 to $70.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Royal Bank of Canada dropped their target price on Edison International from $81.00 to $80.00 and set an “outperform” rating on the stock in a report on Thursday, March 7th. Mizuho dropped their target price on Edison International from $76.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. TheStreet lowered Edison International from a “b” rating to a “c+” rating in a report on Thursday, February 22nd. Finally, StockNews.com raised Edison International from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. One equities 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. According to MarketBeat, Edison International currently has an average 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.