SFE Investment Counsel Raises Stock Holdings in Edison International (NYSE:EIX)

SFE Investment Counsel grew its stake in Edison International (NYSE:EIX) by 1.3% during the 4th quarter, Holdings Channel reports. The fund owned 33,320 shares of the utilities provider’s stock after acquiring an additional 430 shares during the period. SFE Investment Counsel’s holdings in Edison International were worth $2,382,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in EIX. Ausbil Investment Management Ltd increased its stake in Edison International by 54.7% during the fourth quarter. Ausbil Investment Management Ltd now owns 135,099 shares of the utilities provider’s stock worth $9,658,000 after acquiring an additional 47,784 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Edison International during the fourth quarter worth about $11,734,000. Metis Global Partners LLC increased its stake in Edison International by 1.5% during the third quarter. Metis Global Partners LLC now owns 56,588 shares of the utilities provider’s stock worth $3,581,000 after acquiring an additional 834 shares during the last quarter. Mackenzie Financial Corp increased its stake in Edison International by 1.3% during the fourth quarter. Mackenzie Financial Corp now owns 422,747 shares of the utilities provider’s stock worth $30,222,000 after acquiring an additional 5,220 shares during the last quarter. Finally, Equitable Trust Co. increased its stake in Edison International by 11.4% during the third quarter. Equitable Trust Co. now owns 14,845 shares of the utilities provider’s stock worth $940,000 after acquiring an additional 1,518 shares during the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Stock Performance

NYSE:EIX traded up $0.19 during trading hours on Thursday, reaching $68.23. 599,660 shares of the stock were exchanged, compared to its average volume of 2,175,545. The company has a quick ratio of 0.73, a current ratio of 0.79 and a debt-to-equity ratio of 1.86. The firm has a 50 day simple moving average of $68.29 and a 200-day simple moving average of $67.32. Edison International has a 52 week low of $58.82 and a 52 week high of $74.92. The stock has a market capitalization of $26.25 billion, a P/E ratio of 21.74 and a beta of 0.96.

Edison International (NYSE:EIX) last announced its quarterly 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 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 EPS. As a group, sell-side analysts forecast that Edison International will post 5.01 earnings per share 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. This represents a $3.12 annualized dividend and a dividend yield of 4.57%. The ex-dividend date of this dividend is Wednesday, March 27th. Edison International’s dividend payout ratio (DPR) is 100.00%.

Analysts Set New Price Targets

EIX has been the subject of several research analyst reports. Guggenheim upgraded Edison International from a “neutral” rating to a “buy” rating and upped their price target for the stock from $66.00 to $84.00 in a research note on Monday, January 22nd. Barclays increased their target price on Edison International from $69.00 to $70.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Mizuho lowered their target price on Edison International from $76.00 to $75.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. The Goldman Sachs Group initiated coverage on Edison International in a research note on Wednesday, April 10th. They set a “neutral” rating and a $78.00 price objective for the company. Finally, Royal Bank of Canada lowered their price objective on Edison International from $81.00 to $80.00 and set an “outperform” rating for the company in a research note on Thursday, March 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $73.60.

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.