Cornercap Investment Counsel Inc. Has $1.19 Million Holdings in Edison International (NYSE:EIX)

Cornercap Investment Counsel Inc. increased its stake in shares of Edison International (NYSE:EIX) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,586 shares of the utilities provider’s stock after purchasing an additional 453 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Edison International were worth $1,186,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. RVW Wealth LLC acquired a new position in Edison International in the third quarter valued at about $25,000. Bruce G. Allen Investments LLC acquired a new position in Edison International in the fourth quarter valued at about $27,000. WASHINGTON TRUST Co grew its stake in Edison International by 117.4% in the fourth quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 270 shares during the period. Ancora Advisors LLC acquired a new position in Edison International in the first quarter valued at about $41,000. Finally, Lindbrook Capital LLC grew its stake in Edison International by 144.4% in the third quarter. Lindbrook Capital LLC now owns 672 shares of the utilities provider’s stock valued at $43,000 after acquiring an additional 397 shares during the period. 88.95% of the stock is owned by institutional investors and hedge funds.

Edison International Stock Down 0.5 %

EIX traded down $0.37 on Monday, hitting $68.26. 73,457 shares of the company were exchanged, compared to its average volume of 2,199,234. Edison International has a 12 month low of $58.82 and a 12 month high of $74.92. The company has a market cap of $26.26 billion, a PE ratio of 22.00 and a beta of 0.96. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.73 and a current ratio of 0.79. The stock’s fifty day moving average is $68.16 and its 200-day moving average is $67.26.

Edison International (NYSE:EIX) last released its earnings results on Thursday, February 22nd. The utilities provider reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.12. The business had revenue of $3.71 billion for the quarter, compared to analyst estimates of $4.19 billion. Edison International had a return on equity of 12.63% and a net margin of 8.35%. During the same quarter in the prior year, the company posted $1.14 earnings per share. Equities research analysts predict that Edison International will post 5.01 EPS for the current fiscal year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 4.57%. The ex-dividend date is Wednesday, March 27th. Edison International’s payout ratio is 100.00%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. StockNews.com raised Edison International from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. The Goldman Sachs Group assumed coverage on Edison International in a research note on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 target price for the company. Royal Bank of Canada cut their price target on Edison International from $81.00 to $80.00 and set an “outperform” rating on the stock in a report on Thursday, March 7th. TheStreet lowered Edison International from a “b” rating to a “c+” rating in a report on Thursday, February 22nd. Finally, Guggenheim upgraded Edison International from a “neutral” rating to a “buy” rating and boosted their price target for the company from $66.00 to $84.00 in a report on Monday, January 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Edison International has a consensus rating of “Hold” and an average target price of $73.60.

About Edison International

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.