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

GAMMA Investing LLC boosted its stake in shares of Edison International (NYSE:EIX) by 43.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,026 shares of the utilities provider’s stock after buying an additional 313 shares during the period. GAMMA Investing LLC’s holdings in Edison International were worth $73,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Able Wealth Management LLC bought a new position in shares of Edison International in the 4th quarter worth $25,000. Bruce G. Allen Investments LLC bought a new position in Edison International in the fourth quarter worth about $27,000. WASHINGTON TRUST Co lifted its position in shares of Edison International by 117.4% during the fourth quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock valued at $36,000 after buying an additional 270 shares during the last quarter. Northwest Financial Advisors bought a new stake in shares of Edison International in the 4th quarter valued at about $40,000. Finally, CVA Family Office LLC purchased a new position in shares of Edison International in the 4th quarter worth approximately $53,000. Institutional investors own 88.95% of the company’s stock.

Edison International Stock Performance

Shares of NYSE EIX opened at $71.64 on Monday. The stock has a market cap of $27.56 billion, a price-to-earnings ratio of 31.42 and a beta of 0.95. Edison International has a 12 month low of $58.82 and a 12 month high of $77.04. The company has a 50 day simple moving average of $73.06 and a two-hundred day simple moving average of $70.33. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 2.04.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.12 by $0.01. The company had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.16 billion. Edison International had a net margin of 6.14% and a return on equity of 12.48%. The firm’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.09 earnings per share. As a group, analysts predict that Edison International will post 4.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on EIX. Royal Bank of Canada decreased their target price on shares of Edison International from $81.00 to $80.00 and set an “outperform” rating for the company in a research report on Thursday, March 7th. Morgan Stanley raised their price objective on Edison International from $58.00 to $64.00 and gave the stock an “underweight” rating in a research report on Tuesday, May 28th. Mizuho upped their target price on Edison International from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Barclays raised their price target on Edison International from $72.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. Finally, Wells Fargo & Company upgraded shares of Edison International from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $72.00 to $86.00 in a report on Tuesday, May 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $77.70.

Insider Buying and Selling

In other Edison International news, SVP Caroline Choi sold 10,004 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $75.77, for a total value of $758,003.08. Following the completion of the transaction, the senior vice president now directly owns 26,918 shares of the company’s stock, valued at $2,039,576.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO J Andrew Murphy sold 58,099 shares of Edison International stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $75.01, for a total value of $4,358,005.99. Following the completion of the transaction, the chief executive officer now owns 19,660 shares in the company, valued at approximately $1,474,696.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Caroline Choi sold 10,004 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $75.77, for a total value of $758,003.08. Following the transaction, the senior vice president now owns 26,918 shares in the company, valued at approximately $2,039,576.86. The disclosure for this sale can be found here. Insiders have sold a total of 77,897 shares of company stock valued at $5,851,245 over the last ninety days. Company insiders own 1.03% of the company’s stock.

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.