Sumitomo Mitsui Trust Holdings Inc. Trims Stake in Edison International (NYSE:EIX)

Sumitomo Mitsui Trust Holdings Inc. reduced its position in Edison International (NYSE:EIX) by 2.0% in the 4th quarter, Holdings Channel reports. The firm owned 913,926 shares of the utilities provider’s stock after selling 18,669 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Edison International were worth $65,337,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. RVW Wealth LLC purchased a new stake in shares of Edison International in the 3rd quarter valued at about $25,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Edison International in the 4th quarter valued at about $27,000. WASHINGTON TRUST Co increased its position in Edison International by 117.4% in the 4th quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 270 shares during the period. Ancora Advisors LLC acquired a new position in Edison International in the 1st quarter valued at about $41,000. Finally, Lindbrook Capital LLC increased its position in Edison International by 144.4% in the 3rd quarter. Lindbrook Capital LLC now owns 672 shares of the utilities provider’s stock valued at $43,000 after acquiring an additional 397 shares during the period. 88.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EIX has been the topic of several recent research reports. Guggenheim upgraded Edison International from a “neutral” rating to a “buy” rating and boosted their price target for the company from $66.00 to $84.00 in a research report on Monday, January 22nd. TheStreet cut Edison International from a “b” rating to a “c+” rating in a research report on Thursday, February 22nd. StockNews.com upgraded Edison International from a “sell” rating to a “hold” rating in a research report on Saturday, February 24th. Royal Bank of Canada dropped their price target on Edison International from $81.00 to $80.00 and set an “outperform” rating on the stock in a research report on Thursday, March 7th. Finally, Barclays boosted their price target on Edison International from $69.00 to $70.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $73.60.

Edison International Stock Performance

NYSE EIX opened at $68.13 on Friday. 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 business’s 50 day moving average is $68.36 and its two-hundred day moving average is $67.32. Edison International has a 12-month low of $58.82 and a 12-month high of $74.92. The stock has a market capitalization of $26.21 billion, a price-to-earnings ratio of 21.84 and a beta of 0.96.

Edison International (NYSE:EIX) last released its earnings results on Thursday, February 22nd. The utilities provider reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.12. The company had revenue of $3.71 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the firm posted $1.14 EPS. Research analysts expect that Edison International will post 5.01 EPS for the current year.

Edison International Announces Dividend

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

Edison International Profile

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.