Edison International $EIX Shares Sold by Metis Global Partners LLC

Metis Global Partners LLC lowered its position in Edison International (NYSE:EIX) by 12.5% during the third quarter, according to its most recent filing with the SEC. The institutional investor 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.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. MAI Capital Management raised its position in shares of Edison International by 20.8% in the second quarter. MAI Capital Management now owns 1,172 shares of the utilities provider’s stock valued at $60,000 after buying an additional 202 shares during the last quarter. Empowered Funds LLC grew its stake in Edison International by 2.4% during the 1st quarter. Empowered Funds LLC now owns 8,875 shares of the utilities provider’s stock valued at $523,000 after acquiring an additional 211 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Edison International by 0.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 73,809 shares of the utilities provider’s stock valued at $3,818,000 after acquiring an additional 213 shares during the last quarter. GHP Investment Advisors Inc. lifted its stake in Edison International by 21.7% in the 2nd quarter. GHP Investment Advisors Inc. now owns 1,217 shares of the utilities provider’s stock worth $63,000 after purchasing an additional 217 shares in the last quarter. Finally, Generali Asset Management SPA SGR boosted its holdings in shares of Edison International by 0.7% during the 3rd quarter. Generali Asset Management SPA SGR now owns 31,539 shares of the utilities provider’s stock worth $1,743,000 after purchasing an additional 234 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Wall Street Analyst Weigh In

EIX has been the subject of several recent research reports. UBS Group cut Edison International from a “buy” rating to a “neutral” rating and increased their price target for the company from $70.00 to $78.00 in a report on Friday. Wells Fargo & Company cut Edison International from an “equal weight” rating to an “underweight” rating and upped their target price for the company from $56.00 to $59.00 in a report on Tuesday, January 20th. Morgan Stanley reaffirmed an “underweight” rating on shares of Edison International in a research note on Wednesday, January 21st. JPMorgan Chase & Co. lifted their price target on Edison International from $65.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday, January 28th. Finally, LADENBURG THALM/SH SH boosted their price target on shares of Edison International from $52.50 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Four analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Edison International presently has an average rating of “Hold” and a consensus price target of $64.10.

Edison International Price Performance

NYSE:EIX opened at $71.43 on Friday. Edison International has a 52 week low of $47.73 and a 52 week high of $71.61. The stock’s fifty day moving average is $61.15 and its two-hundred day moving average is $57.74. The company has a market capitalization of $27.48 billion, a P/E ratio of 9.34, a P/E/G ratio of 1.01 and a beta of 0.82. The company has a quick ratio of 0.76, a current ratio of 0.82 and a debt-to-equity ratio of 1.95.

Edison International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, January 31st. Shareholders of record on Wednesday, January 7th were given a $0.8775 dividend. The ex-dividend date of this dividend was Wednesday, January 7th. This is an increase from Edison International’s previous quarterly dividend of $0.83. This represents a $3.51 dividend on an annualized basis and a yield of 4.9%. Edison International’s dividend payout ratio is currently 45.88%.

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.