Edison International (NYSE:EIX) Stake Lowered by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its stake in Edison International (NYSE:EIX) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 929,659 shares of the utilities provider’s stock after selling 3,207 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Edison International were worth $74,224,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of EIX. Crews Bank & Trust acquired a new position in Edison International in the 4th quarter worth about $25,000. Highline Wealth Partners LLC bought a new stake in shares of Edison International in the 3rd quarter valued at approximately $26,000. Groupama Asset Managment increased its holdings in Edison International by 0.8% in the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock worth $26,000 after buying an additional 237 shares during the last quarter. Eastern Bank bought a new position in Edison International during the third quarter valued at approximately $27,000. Finally, Larson Financial Group LLC lifted its stake in Edison International by 125.0% in the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 195 shares during the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on EIX shares. Jefferies Financial Group started coverage on shares of Edison International in a research note on Thursday, November 7th. They set a “buy” rating and a $93.00 price target on the stock. Morgan Stanley cut their target price on Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Wells Fargo & Company boosted their price target on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Barclays lowered their price objective on Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Finally, LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price for the company in a report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $82.88.

Edison International Trading Down 2.3 %

Shares of Edison International stock opened at $49.99 on Monday. Edison International has a 1 year low of $49.92 and a 1 year high of $88.77. The company’s fifty day simple moving average is $70.50 and its 200-day simple moving average is $79.46. The company has a market cap of $19.36 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 1.05 and a beta of 0.90. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96.

Edison International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th were given a $0.8275 dividend. This represents a $3.31 annualized dividend and a yield of 6.62%. This is a positive change from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date was Tuesday, January 7th. Edison International’s dividend payout ratio (DPR) is currently 97.07%.

Edison International Company 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.