Sound Income Strategies LLC Raises Holdings in Edison International (NYSE:EIX)

Sound Income Strategies LLC lifted its holdings in Edison International (NYSE:EIX) by 5.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 195,788 shares of the utilities provider’s stock after purchasing an additional 10,863 shares during the quarter. Sound Income Strategies LLC’s holdings in Edison International were worth $15,632,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Lake Street Advisors Group LLC increased its stake in shares of Edison International by 4.3% during the 3rd quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock valued at $263,000 after acquiring an additional 124 shares during the last quarter. Baker Tilly Wealth Management LLC grew its holdings in 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 valued at $416,000 after purchasing an additional 129 shares during the period. SFE Investment Counsel increased 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 worth $3,721,000 after purchasing an additional 130 shares during the last quarter. Assetmark Inc. increased its position in Edison International by 32.9% during the third quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock worth $55,000 after purchasing an additional 157 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC raised its stake in Edison International by 2.1% during the third quarter. Dynamic Advisor Solutions LLC now owns 7,697 shares of the utilities provider’s stock worth $670,000 after purchasing an additional 159 shares during the period. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Edison International

In other news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.03% of the stock is currently owned by corporate insiders.

Edison International Price Performance

Shares of EIX stock opened at $57.10 on Friday. The firm has a fifty day simple moving average of $78.19 and a 200-day simple moving average of $81.12. The company has a market capitalization of $22.11 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 1.20 and a beta of 0.93. Edison International has a twelve month low of $55.27 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.

Edison International (NYSE:EIX) last posted its quarterly earnings data 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 company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.01 billion. During the same period in the prior year, the company posted $1.38 EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. Equities research analysts anticipate 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 issued a dividend of $0.8275 per share. The ex-dividend date is Tuesday, January 7th. This is an increase from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 annualized dividend and a yield of 5.80%. Edison International’s payout ratio is currently 97.07%.

Analyst Upgrades and Downgrades

EIX has been the subject of a number of research analyst reports. 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 report on Friday, November 22nd. Guggenheim lowered Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday. Wells Fargo & Company raised their price objective on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Jefferies Financial Group began coverage on Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 target price for the company. Finally, Barclays cut their price target on shares of Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $82.88.

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.