SBI Securities Co. Ltd. Takes Position in Edison International (NYSE:EIX)

SBI Securities Co. Ltd. acquired a new stake in Edison International (NYSE:EIX) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 556 shares of the utilities provider’s stock, valued at approximately $44,000.

Several other hedge funds also recently modified their holdings of EIX. State Street Corp grew its position in Edison International by 0.7% in the 3rd quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock valued at $2,834,774,000 after purchasing an additional 224,337 shares during the period. FMR LLC grew its position in Edison International by 8.7% in the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock valued at $1,898,638,000 after purchasing an additional 1,741,835 shares during the period. Geode Capital Management LLC grew its position in Edison International by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider’s stock valued at $835,142,000 after purchasing an additional 210,461 shares during the period. Bank of New York Mellon Corp grew its position in Edison International by 1.3% in the 4th quarter. Bank of New York Mellon Corp now owns 2,620,122 shares of the utilities provider’s stock valued at $209,191,000 after purchasing an additional 32,391 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Edison International by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,340,116 shares of the utilities provider’s stock worth $203,801,000 after acquiring an additional 28,240 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

Edison International Trading Down 1.6 %

Shares of Edison International stock opened at $56.09 on Wednesday. Edison International has a 52-week low of $49.06 and a 52-week high of $88.77. The stock’s 50-day simple moving average is $57.99 and its 200 day simple moving average is $75.02. The stock has a market capitalization of $21.59 billion, a P/E ratio of 16.45, a P/E/G ratio of 1.07 and a beta of 0.87. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.03). Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company had revenue of $17.60 billion for the quarter, compared to the consensus estimate of $3.92 billion. As a group, research analysts anticipate that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be given a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a dividend yield of 5.90%. The ex-dividend date is Monday, April 7th. Edison International’s dividend payout ratio is presently 100.30%.

Wall Street Analyst Weigh In

EIX has been the topic of a number of analyst reports. Guggenheim downgraded shares of Edison International from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. Mizuho cut their price objective on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. Morgan Stanley lowered their target price on Edison International from $71.00 to $48.00 and set an “underweight” rating on the stock in a research note on Friday, February 14th. LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price on the stock in a research note on Wednesday, January 15th. Finally, Barclays lowered their target price on Edison International from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Edison International currently has an average rating of “Moderate Buy” and a consensus price target of $76.54.

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.