GAMMA Investing LLC Reduces Stock Holdings in Edison International (NYSE:EIX)

GAMMA Investing LLC reduced its stake in shares of Edison International (NYSE:EIX) by 27.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,464 shares of the utilities provider’s stock after selling 946 shares during the quarter. GAMMA Investing LLC’s holdings in Edison International were worth $145,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Bellwether Advisors LLC acquired a new stake in Edison International during the 4th quarter valued at approximately $34,000. OFI Invest Asset Management acquired a new stake in Edison International during the 4th quarter valued at approximately $38,000. SBI Securities Co. Ltd. acquired a new stake in Edison International during the 4th quarter valued at approximately $44,000. Mizuho Bank Ltd. acquired a new stake in Edison International during the 4th quarter valued at approximately $50,000. Finally, Versant Capital Management Inc grew its stake in Edison International by 96.7% during the 1st quarter. Versant Capital Management Inc now owns 881 shares of the utilities provider’s stock valued at $52,000 after purchasing an additional 433 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EIX. JPMorgan Chase & Co. lowered their price objective on Edison International from $75.00 to $71.00 and set a “neutral” rating for the company in a research note on Monday, May 19th. Evercore ISI restated an “outperform” rating on shares of Edison International in a research note on Thursday, May 15th. Barclays raised their price objective on Edison International from $64.00 to $67.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Wolfe Research lowered Edison International from an “outperform” rating to a “peer perform” rating in a research note on Monday, June 9th. Finally, Morgan Stanley lowered their price objective on Edison International from $52.00 to $51.00 and set an “underweight” rating for the company in a research note on Wednesday, June 18th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Edison International currently has a consensus rating of “Moderate Buy” and an average target price of $76.82.

Edison International Price Performance

Shares of EIX opened at $52.57 on Friday. The firm has a market cap of $20.23 billion, a price-to-earnings ratio of 7.46, a PEG ratio of 1.23 and a beta of 0.75. The stock has a 50 day moving average of $53.90 and a 200-day moving average of $57.84. The company has a current ratio of 0.96, a quick ratio of 0.89 and a debt-to-equity ratio of 2.06. Edison International has a 52 week low of $47.73 and a 52 week high of $88.77.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, April 29th. The utilities provider reported $1.37 EPS for the quarter, topping the consensus estimate of $1.21 by $0.16. The company had revenue of $3.81 billion during the quarter, compared to analyst estimates of $4.29 billion. Edison International had a return on equity of 13.21% and a net margin of 16.84%. The business’s revenue was down 6.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.13 EPS. As a group, analysts forecast that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, July 7th will be given a dividend of $0.8275 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a $3.31 dividend on an annualized basis and a yield of 6.30%. Edison International’s dividend payout ratio is currently 46.95%.

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.