Metis Global Partners LLC Lowers Stake in Edison International $EIX

Metis Global Partners LLC lessened its stake in Edison International (NYSE:EIX) by 12.5% in the 3rd quarter, Holdings Channel reports. The firm owned 70,553 shares of the utilities provider’s stock after selling 10,096 shares during the period. Metis Global Partners LLC’s holdings in Edison International were worth $3,900,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Assetmark Inc. grew its stake in shares of Edison International by 51.4% in the third quarter. Assetmark Inc. now owns 126,995 shares of the utilities provider’s stock valued at $7,020,000 after buying an additional 43,108 shares in the last quarter. Public Sector Pension Investment Board increased its stake in Edison International by 4.9% during the third quarter. Public Sector Pension Investment Board now owns 82,994 shares of the utilities provider’s stock worth $4,588,000 after purchasing an additional 3,861 shares during the period. Lynx Investment Advisory acquired a new stake in shares of Edison International during the third quarter worth about $512,000. Wedbush Securities Inc. purchased a new position in shares of Edison International in the third quarter valued at approximately $221,000. Finally, Savvy Advisors Inc. purchased a new position in shares of Edison International in the third quarter valued at approximately $409,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Price Performance

Shares of EIX opened at $71.43 on Friday. The firm has a market capitalization of $27.48 billion, a price-to-earnings ratio of 9.34, a PEG ratio of 1.01 and a beta of 0.82. The firm’s fifty day simple moving average is $61.15 and its 200-day simple moving average is $57.74. Edison International has a twelve month low of $47.73 and a twelve month high of $71.61. The company has a current ratio of 0.82, a quick ratio of 0.76 and a debt-to-equity ratio of 1.95.

Edison International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, January 31st. Shareholders of record on Wednesday, January 7th were issued a dividend of $0.8775 per share. This is a positive change from Edison International’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Wednesday, January 7th. This represents a $3.51 dividend on an annualized basis and a yield of 4.9%. Edison International’s dividend payout ratio (DPR) is presently 45.88%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on EIX shares. Jefferies Financial Group cut their target price on shares of Edison International from $59.00 to $54.00 and set a “hold” rating on the stock in a research note on Wednesday, January 28th. Zacks Research lowered Edison International from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. LADENBURG THALM/SH SH increased their price objective on Edison International from $52.50 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Morgan Stanley reiterated an “underweight” rating on shares of Edison International in a report on Wednesday, January 21st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Edison International in a report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Edison International presently has a consensus rating of “Hold” and an average target price of $64.10.

Edison International Profile

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.