Metis Global Partners LLC Has $7.67 Million Stock Holdings in Edison International (NYSE:EIX)

Metis Global Partners LLC grew its stake in shares of Edison International (NYSE:EIX) by 11.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 88,008 shares of the utilities provider’s stock after purchasing an additional 9,108 shares during the period. Metis Global Partners LLC’s holdings in Edison International were worth $7,665,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in EIX. Lake Street Advisors Group LLC raised its holdings in shares of Edison International by 4.3% in the 3rd quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock worth $263,000 after purchasing an additional 124 shares during the period. Baker Tilly Wealth Management LLC increased its position 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 worth $416,000 after buying an additional 129 shares during the last quarter. SFE Investment Counsel lifted its position in shares of Edison International by 0.3% during the 3rd quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock valued at $3,721,000 after buying an additional 130 shares during the last quarter. Equitable Trust Co. grew its stake in shares of Edison International by 0.9% during the 2nd quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider’s stock worth $1,108,000 after acquiring an additional 132 shares during the period. Finally, TIAA Trust National Association increased its holdings in Edison International by 2.0% in the 2nd quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock worth $483,000 after acquiring an additional 134 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

Edison International Trading Down 0.7 %

Shares of EIX opened at $82.18 on Thursday. Edison International has a 1-year low of $63.15 and a 1-year high of $88.77. The company has a market capitalization of $31.82 billion, a P/E ratio of 24.10, a P/E/G ratio of 1.98 and a beta of 0.92. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The firm’s 50 day simple moving average is $84.72 and its 200 day simple moving average is $79.50.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, topping 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 firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. During the same quarter in the prior year, the firm earned $1.38 EPS. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. Sell-side analysts forecast that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s dividend payout ratio (DPR) is currently 91.50%.

Insider Transactions at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO J Andrew Murphy sold 23,896 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the transaction, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at approximately $1,696,182.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The disclosure for this sale can be found here. In the last three months, insiders sold 50,878 shares of company stock worth $4,285,422. 1.03% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on EIX shares. Evercore ISI lifted their target price on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Argus lifted their price objective on shares of Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Jefferies Financial Group began coverage on Edison International in a research report on Thursday, November 7th. They set a “buy” rating and a $93.00 target price on the stock. Wells Fargo & Company lifted their price target on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Barclays increased their price objective on Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Edison International currently has an average rating of “Moderate Buy” and a consensus price target of $88.75.

Edison International Company 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.