Cornercap Investment Counsel Inc. Sells 361 Shares of Edison International (NYSE:EIX)

Cornercap Investment Counsel Inc. trimmed its stake in shares of Edison International (NYSE:EIX) by 4.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,550 shares of the utilities provider’s stock after selling 361 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Edison International were worth $683,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Intrust Bank NA grew its stake in Edison International by 11.7% in the 4th quarter. Intrust Bank NA now owns 5,603 shares of the utilities provider’s stock valued at $447,000 after buying an additional 587 shares during the last quarter. Allstate Corp acquired a new position in shares of Edison International in the fourth quarter valued at approximately $938,000. RiverFront Investment Group LLC lifted its holdings in Edison International by 26.6% during the 4th quarter. RiverFront Investment Group LLC now owns 8,200 shares of the utilities provider’s stock worth $655,000 after purchasing an additional 1,722 shares during the last quarter. DnB Asset Management AS boosted its stake in Edison International by 10.1% in the 4th quarter. DnB Asset Management AS now owns 99,054 shares of the utilities provider’s stock valued at $7,908,000 after purchasing an additional 9,116 shares during the period. Finally, Slagle Financial LLC acquired a new position in Edison International in the 4th quarter valued at $3,478,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Stock Up 1.6 %

NYSE:EIX opened at $58.20 on Friday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. Edison International has a one year low of $49.06 and a one year high of $88.77. The firm’s 50 day simple moving average is $55.00 and its 200 day simple moving average is $72.50. The company has a market cap of $22.41 billion, a PE ratio of 17.07, a P/E/G ratio of 1.07 and a beta of 0.87.

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

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be given a dividend of $0.8275 per share. The ex-dividend date is Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.69%. Edison International’s payout ratio is presently 100.30%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EIX. Barclays reduced their target price on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. UBS Group upgraded shares of Edison International from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $69.00 to $65.00 in a research report on Tuesday, February 18th. Morgan Stanley lifted their price target on shares of Edison International from $48.00 to $52.00 and gave the company an “underweight” rating in a research report on Thursday, March 20th. Wells Fargo & Company lowered their price objective on Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Finally, LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price for the company in a research report on Wednesday, January 15th. One 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $76.82.

Edison International Company 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.