SFE Investment Counsel Purchases 445 Shares of Edison International (NYSE:EIX)

SFE Investment Counsel increased its holdings in Edison International (NYSE:EIX) by 1.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,175 shares of the utilities provider’s stock after acquiring an additional 445 shares during the period. SFE Investment Counsel’s holdings in Edison International were worth $3,447,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. FMR LLC boosted its position in 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 last quarter. abrdn plc raised its stake in shares of Edison International by 166.4% during the 3rd quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock worth $123,149,000 after purchasing an additional 885,955 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Edison International by 117.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 781,736 shares of the utilities provider’s stock worth $68,081,000 after buying an additional 422,752 shares during the last quarter. Miller Howard Investments Inc. NY grew its position 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 buying an additional 291,619 shares during the period. Finally, State Street Corp increased its holdings in Edison International by 0.7% during the third quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock worth $2,834,774,000 after buying an additional 224,337 shares during the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on EIX. Guggenheim cut shares of Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $72.00 price target on shares of Edison International in a report on Wednesday. UBS Group reduced their price objective on Edison International from $87.00 to $69.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Wells Fargo & Company raised their target price on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Barclays dropped their price target on Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $82.11.

Edison International Trading Up 3.8 %

Shares of EIX opened at $52.72 on Thursday. The business’s 50-day moving average price is $68.48 and its 200-day moving average price is $78.92. 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 has a twelve month low of $49.06 and a twelve month high of $88.77. The stock has a market cap of $20.41 billion, a PE ratio of 15.46, a P/E/G ratio of 1.05 and a beta of 0.90.

Edison International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, January 7th were given a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a yield of 6.28%. This is a boost from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Tuesday, January 7th. Edison International’s payout ratio is presently 97.07%.

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.