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

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

Other hedge funds also recently made changes to their positions in the company. FMR LLC boosted its position in shares of Edison International by 8.7% in the third quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock worth $1,898,638,000 after purchasing an additional 1,741,835 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Edison International during the 4th quarter valued at $39,344,000. AustralianSuper Pty Ltd bought a new position in Edison International in the 4th quarter worth $31,877,000. Victory Capital Management Inc. increased its stake in Edison International by 74.6% in the 4th quarter. Victory Capital Management Inc. now owns 906,545 shares of the utilities provider’s stock worth $72,379,000 after buying an additional 387,215 shares in the last quarter. Finally, Miller Howard Investments Inc. NY raised its holdings in Edison International by 565.5% during the fourth quarter. Miller Howard Investments Inc. NY now owns 343,190 shares of the utilities provider’s stock valued at $27,400,000 after acquiring an additional 291,619 shares during the period. 88.95% of the stock is currently owned by institutional investors.

Edison International Trading Up 0.7 %

Shares of NYSE EIX opened at $55.86 on Friday. Edison International has a 1-year low of $49.06 and a 1-year high of $88.77. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The business’s 50 day moving average is $57.02 and its two-hundred day moving average is $74.75. The stock has a market capitalization of $21.51 billion, a P/E ratio of 16.38, a PEG ratio of 1.07 and a beta of 0.87.

Edison International (NYSE:EIX) last released 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). 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, research analysts expect that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on EIX shares. Wells Fargo & Company cut their target price on Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Morgan Stanley cut their price objective on shares of Edison International from $71.00 to $48.00 and set an “underweight” rating for the company in a report on Friday, February 14th. Barclays lowered their target price on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. The Goldman Sachs Group dropped their target price 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. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $72.00 price target on shares of Edison International in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently 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.