Johnson Investment Counsel Inc. Acquires 688 Shares of Edison International (NYSE:EIX)

Johnson Investment Counsel Inc. raised its holdings in shares of Edison International (NYSE:EIX) by 20.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,072 shares of the utilities provider’s stock after purchasing an additional 688 shares during the period. Johnson Investment Counsel Inc.’s holdings in Edison International were worth $325,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Crews Bank & Trust purchased a new stake in Edison International in the fourth quarter worth $25,000. Groupama Asset Managment lifted 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 period. Larson Financial Group LLC boosted its position in Edison International by 125.0% during the 3rd 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 in the last quarter. Prospera Private Wealth LLC bought a new stake in Edison International during the 3rd quarter valued at approximately $32,000. Finally, Sierra Ocean LLC purchased a new position in shares of Edison International during the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Guggenheim lowered Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. Barclays reduced their target price on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. The Goldman Sachs Group lowered their price target on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. UBS Group raised shares of Edison International from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $69.00 to $65.00 in a research note on Tuesday, February 18th. Finally, Mizuho decreased their target price on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.54.

Edison International Stock Performance

Shares of NYSE EIX opened at $55.86 on Friday. The firm’s 50-day moving average price is $57.02 and its 200-day moving average price is $74.75. Edison International has a 52-week low of $49.06 and a 52-week high of $88.77. The company has a market cap of $21.51 billion, a PE ratio of 16.38, a PEG ratio of 1.07 and a beta of 0.87. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96.

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

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be issued a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.93%. The ex-dividend date is Monday, April 7th. Edison International’s payout ratio is 100.30%.

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.