SFE Investment Counsel Acquires 430 Shares of Edison International (NYSE:EIX)

SFE Investment Counsel increased its holdings in Edison International (NYSE:EIX) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,320 shares of the utilities provider’s stock after purchasing 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 quarter.

Other hedge funds have also bought and sold shares of the company. Bruce G. Allen Investments LLC bought a new position in Edison International during the fourth quarter valued at $27,000. RVW Wealth LLC bought a new position in shares of Edison International in the third quarter worth about $25,000. WASHINGTON TRUST Co grew its holdings in shares of Edison International by 117.4% in the fourth quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 270 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Edison International by 61.4% in the first quarter. First Horizon Advisors Inc. now owns 615 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 234 shares during the last quarter. Finally, Lindbrook Capital LLC grew its holdings in shares of Edison International by 144.4% in the third quarter. Lindbrook Capital LLC now owns 672 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 397 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

Edison International Price Performance

Shares of NYSE:EIX traded up $0.19 during midday trading on Thursday, reaching $68.23. 599,660 shares of the company’s stock traded hands, compared to its average volume of 2,175,545. Edison International has a 1 year low of $58.82 and a 1 year high of $74.92. The company has a market cap of $26.25 billion, a P/E ratio of 21.74 and a beta of 0.96. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.73 and a current ratio of 0.79. The company has a fifty day simple moving average of $68.29 and a two-hundred day simple moving average of $67.32.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $1.28 EPS for the quarter, topping the consensus estimate of $1.16 by $0.12. Edison International had a return on equity of 12.63% and a net margin of 8.35%. The business had revenue of $3.71 billion for the quarter, compared to analyst estimates of $4.19 billion. During the same quarter in the previous year, the firm earned $1.14 EPS. Equities analysts predict that Edison International will post 5.01 EPS for the current fiscal year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.78 per share. The ex-dividend date is Wednesday, March 27th. This represents a $3.12 annualized dividend and a dividend yield of 4.57%. Edison International’s dividend payout ratio is presently 100.00%.

Analysts Set New Price Targets

EIX has been the subject of a number of research reports. The Goldman Sachs Group initiated coverage on shares of Edison International in a research note on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 price objective for the company. Barclays upped their price objective on shares of Edison International from $69.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th. TheStreet lowered shares of Edison International from a “b” rating to a “c+” rating in a research note on Thursday, February 22nd. StockNews.com raised shares of Edison International from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. Finally, Royal Bank of Canada lowered their price objective on shares of 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 research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $73.60.

About Edison International

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.