GAMMA Investing LLC Acquires 803 Shares of Edison International (NYSE:EIX)

GAMMA Investing LLC increased its position in Edison International (NYSE:EIX) by 30.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,410 shares of the utilities provider’s stock after purchasing an additional 803 shares during the quarter. GAMMA Investing LLC’s holdings in Edison International were worth $272,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Lake Street Advisors Group LLC lifted its position in shares of Edison International by 4.3% during the third quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock valued at $263,000 after buying an additional 124 shares during the last quarter. Baker Tilly Wealth Management LLC boosted its stake in shares of Edison International by 2.8% in the third quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock worth $416,000 after buying an additional 129 shares during the last quarter. SFE Investment Counsel grew its position in Edison International by 0.3% during the third quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock valued at $3,721,000 after buying an additional 130 shares during the period. Asset Dedication LLC grew its stake in Edison International by 37.5% in the 2nd quarter. Asset Dedication LLC now owns 550 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 150 shares during the period. Finally, Assetmark Inc. grew its position in shares of Edison International by 32.9% in the third quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock valued at $55,000 after purchasing an additional 157 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Stock Down 1.4 %

EIX stock opened at $77.38 on Wednesday. The company’s 50 day moving average is $82.52 and its two-hundred day moving average is $81.91. Edison International has a twelve month low of $63.15 and a twelve month high of $88.77. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The stock has a market cap of $29.96 billion, a P/E ratio of 22.69, a PEG ratio of 1.96 and a beta of 0.93.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.01 billion. During the same period in the previous year, the company earned $1.38 earnings per share. Edison International’s quarterly revenue was up 10.6% compared to the same quarter last year. Research analysts expect that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th will be given a $0.8275 dividend. This is a boost from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date is Tuesday, January 7th. This represents a $3.31 annualized dividend and a yield of 4.28%. Edison International’s dividend payout ratio is presently 97.07%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on EIX. UBS Group dropped their price target on Edison International from $96.00 to $87.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Jefferies Financial Group started coverage on Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target on the stock. Royal Bank of Canada upped their price objective on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Wells Fargo & Company boosted their target price on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley dropped their price objective on Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $88.00.

Insiders Place Their Bets

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.20% of the company’s stock.

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.