Metis Global Partners LLC Increases Position in Edison International (NYSE:EIX)

Metis Global Partners LLC grew its stake in Edison International (NYSE:EIX) by 17.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 66,539 shares of the utilities provider’s stock after acquiring an additional 9,951 shares during the quarter. Metis Global Partners LLC’s holdings in Edison International were worth $4,757,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in EIX. Pzena Investment Management LLC increased its position in shares of Edison International by 1.5% in the third quarter. Pzena Investment Management LLC now owns 13,316,887 shares of the utilities provider’s stock valued at $842,826,000 after buying an additional 197,259 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Edison International by 3.3% in the 3rd quarter. Wellington Management Group LLP now owns 9,842,171 shares of the utilities provider’s stock valued at $622,911,000 after buying an additional 317,297 shares during the period. Clearbridge Investments LLC lifted its stake in Edison International by 8.9% during the 3rd quarter. Clearbridge Investments LLC now owns 6,830,749 shares of the utilities provider’s stock worth $432,318,000 after acquiring an additional 558,351 shares in the last quarter. Legal & General Group Plc grew its position in Edison International by 2.0% in the 3rd quarter. Legal & General Group Plc now owns 5,590,765 shares of the utilities provider’s stock valued at $353,840,000 after acquiring an additional 108,138 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Edison International by 3.9% during the third quarter. Northern Trust Corp now owns 4,428,725 shares of the utilities provider’s stock worth $280,294,000 after purchasing an additional 165,734 shares during the period. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Trading Up 0.9 %

NYSE EIX traded up $0.68 during mid-day trading on Monday, reaching $73.02. 1,251,771 shares of the stock were exchanged, compared to its average volume of 2,182,859. The stock has a market capitalization of $28.09 billion, a PE ratio of 31.73 and a beta of 0.95. The business’s fifty day simple moving average is $69.41 and its 200 day simple moving average is $67.96. Edison International has a 1-year low of $58.82 and a 1-year high of $74.40. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.93 and a current ratio of 1.00.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, April 30th. The utilities provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.01. Edison International had a net margin of 6.14% and a return on equity of 12.48%. The business had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.16 billion. During the same quarter last year, the firm posted $1.09 EPS. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, research analysts anticipate that Edison International will post 4.92 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 4.27%. The ex-dividend date of this dividend was Wednesday, March 27th. Edison International’s dividend payout ratio is currently 136.84%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on EIX. Royal Bank of Canada decreased their price objective on Edison International from $81.00 to $80.00 and set an “outperform” rating for the company in a research note on Thursday, March 7th. Barclays raised their target price on Edison International from $72.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday. Mizuho lowered their target price on shares of Edison International from $76.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, January 25th. Guggenheim upgraded shares of Edison International from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $66.00 to $84.00 in a research note on Monday, January 22nd. Finally, StockNews.com upgraded shares of Edison International from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $72.78.

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.