Metis Global Partners LLC Raises Stake in Edison International (NYSE:EIX)

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

A number of other large investors have also modified their holdings of the company. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Edison International by 6.2% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 34,530 shares of the utilities provider’s stock worth $2,185,000 after acquiring an additional 2,002 shares during the period. Raymond James & Associates increased its position in shares of Edison International by 3.8% during the third quarter. Raymond James & Associates now owns 543,024 shares of the utilities provider’s stock worth $34,368,000 after acquiring an additional 19,789 shares during the period. Independent Advisor Alliance boosted its holdings in Edison International by 5.7% in the third quarter. Independent Advisor Alliance now owns 4,700 shares of the utilities provider’s stock valued at $297,000 after purchasing an additional 254 shares during the period. Brown Advisory Inc. increased its holdings in Edison International by 17.6% during the 3rd quarter. Brown Advisory Inc. now owns 4,542 shares of the utilities provider’s stock worth $287,000 after purchasing an additional 679 shares during the period. Finally, Lindbrook Capital LLC increased its stake in shares of Edison International by 144.4% during the third quarter. Lindbrook Capital LLC now owns 672 shares of the utilities provider’s stock worth $43,000 after buying an additional 397 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on EIX. Royal Bank of Canada lowered their price objective on Edison International from $81.00 to $80.00 and set an “outperform” rating for the company in a research report on Thursday, March 7th. Guggenheim upgraded Edison International from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $66.00 to $84.00 in a research report on Monday, January 22nd. TheStreet lowered Edison International from a “b” rating to a “c+” rating in a research report on Thursday, February 22nd. StockNews.com raised shares of Edison International from a “sell” rating to a “hold” rating in a report on Saturday, February 24th. Finally, Barclays increased their price target on shares of Edison International from $72.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Edison International has a consensus rating of “Hold” and an average price target of $72.78.

Edison International Trading Up 0.9 %

Shares of NYSE:EIX traded up $0.68 during trading on Monday, reaching $73.02. The stock had a trading volume of 1,251,771 shares, compared to its average volume of 2,182,859. Edison International has a fifty-two week low of $58.82 and a fifty-two week high of $74.40. The business has a fifty day moving average price of $69.41 and a 200-day moving average price of $67.96. The stock has a market cap of $28.09 billion, a P/E ratio of 31.73 and a beta of 0.95. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 2.04.

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

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend was Wednesday, March 27th. Edison International’s dividend payout ratio (DPR) is currently 136.84%.

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.