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

Cornercap Investment Counsel Inc. decreased its position in Edison International (NYSE:EIX) by 4.1% in the 4th quarter, HoldingsChannel.com reports. The fund 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in EIX. Crews Bank & Trust bought a new position in Edison International in the 4th quarter valued at $25,000. Groupama Asset Managment grew its position in Edison International by 0.8% during the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock valued at $26,000 after buying an additional 237 shares during the period. Larson Financial Group LLC increased its holdings in Edison International by 125.0% during the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after buying an additional 195 shares during the last quarter. Sierra Ocean LLC bought a new stake in Edison International in the fourth quarter worth about $33,000. Finally, ST Germain D J Co. Inc. raised its position in Edison International by 88.1% in the fourth quarter. ST Germain D J Co. Inc. now owns 427 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Mizuho decreased their price target 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. Wells Fargo & Company reduced their target price on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price on the stock in a report on Wednesday, January 15th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $72.00 price target on shares of Edison International in a report on Wednesday, February 12th. Finally, Morgan Stanley boosted their price objective on Edison International from $48.00 to $52.00 and gave the company an “underweight” rating in a research note on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $76.82.

Edison International Stock Up 1.6 %

EIX stock opened at $58.20 on Friday. The company’s 50 day moving average is $55.00 and its 200 day moving average is $72.50. The stock has a market cap of $22.41 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. Edison International has a 1-year low of $49.06 and a 1-year high of $88.77.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, February 27th. The utilities provider reported $1.05 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 during the quarter, compared to the consensus estimate of $3.92 billion. Sell-side analysts predict that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders 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 5.69%. The ex-dividend date is Monday, April 7th. Edison International’s payout ratio is currently 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.