Sumitomo Mitsui DS Asset Management Company Ltd Buys 5,726 Shares of Edison International (NYSE:EIX)

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Edison International (NYSE:EIX) by 14.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 45,548 shares of the utilities provider’s stock after purchasing an additional 5,726 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Edison International were worth $3,637,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of EIX. Lake Street Advisors Group LLC increased its stake in shares of Edison International by 4.3% in the 3rd quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock valued at $263,000 after purchasing an additional 124 shares during the last quarter. Baker Tilly Wealth Management LLC boosted its stake in Edison International by 2.8% in the third quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock valued at $416,000 after buying an additional 129 shares in the last quarter. SFE Investment Counsel grew its position in Edison International by 0.3% in the third quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock valued at $3,721,000 after acquiring an additional 130 shares during the last quarter. Assetmark Inc. raised its stake in Edison International by 32.9% during the third quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock worth $55,000 after acquiring an additional 157 shares in the last quarter. Finally, Centennial Wealth Advisory LLC lifted its holdings in shares of Edison International by 3.3% in the third quarter. Centennial Wealth Advisory LLC now owns 5,378 shares of the utilities provider’s stock worth $468,000 after acquiring an additional 172 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on EIX shares. LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target on the stock in a report on Wednesday, January 15th. UBS Group lowered their price target on shares of Edison International from $87.00 to $69.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Barclays cut 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. Guggenheim lowered Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Finally, Jefferies Financial Group began coverage on Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 price objective for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $82.88.

Edison International Stock Down 2.3 %

Shares of NYSE EIX opened at $49.99 on Monday. Edison International has a 52-week low of $49.92 and a 52-week high of $88.77. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The company’s 50 day moving average price is $70.50 and its 200-day moving average price is $79.46. The company has a market capitalization of $19.36 billion, a P/E ratio of 14.66, a price-to-earnings-growth ratio of 1.05 and a beta of 0.90.

Edison International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th were issued a dividend of $0.8275 per share. This is an increase from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 dividend on an annualized basis and a yield of 6.62%. The ex-dividend date was Tuesday, January 7th. Edison International’s dividend payout ratio (DPR) is presently 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.