Edison International (NYSE:EIX) Shares Bought by Metis Global Partners LLC

Metis Global Partners LLC increased its position in shares of Edison International (NYSE:EIX) by 4.0% in the 4th quarter, HoldingsChannel reports. The firm owned 91,506 shares of the utilities provider’s stock after purchasing an additional 3,498 shares during the period. Metis Global Partners LLC’s holdings in Edison International were worth $7,306,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in EIX. Flputnam Investment Management Co. raised its stake in Edison International by 22.9% during the fourth quarter. Flputnam Investment Management Co. now owns 112,149 shares of the utilities provider’s stock worth $8,954,000 after purchasing an additional 20,866 shares during the period. QRG Capital Management Inc. lifted its holdings in shares of Edison International by 18.5% in the 4th quarter. QRG Capital Management Inc. now owns 21,559 shares of the utilities provider’s stock worth $1,721,000 after purchasing an additional 3,363 shares during the last quarter. Versor Investments LP raised its stake in Edison International by 177.5% during the 4th quarter. Versor Investments LP now owns 39,965 shares of the utilities provider’s stock valued at $3,191,000 after acquiring an additional 25,565 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Edison International during the 4th quarter valued at $6,859,000. Finally, Mn Services Vermogensbeheer B.V. increased its position in shares of Edison International by 1.7% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 149,500 shares of the utilities provider’s stock valued at $11,936,000 after purchasing an additional 2,500 shares during the period. 88.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on EIX. Wells Fargo & Company reduced their price objective on Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday. LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target on the stock in a research note on Wednesday, January 15th. Barclays lowered their price objective on Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Morgan Stanley reduced their target price on Edison International from $71.00 to $48.00 and set an “underweight” rating on the stock in a report on Friday, February 14th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $72.00 target price on shares of Edison International in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Edison International currently has an average rating of “Moderate Buy” and a consensus price target of $78.75.

Edison International Price Performance

EIX stock opened at $54.45 on Friday. The firm has a market cap of $21.08 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 1.07 and a beta of 0.90. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. Edison International has a 12-month low of $49.06 and a 12-month high of $88.77. The company’s fifty day simple moving average is $61.38 and its 200 day simple moving average is $76.50.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.03). The company had revenue of $17.60 billion during the quarter, compared to the consensus estimate of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. On average, analysts expect that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be paid a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 6.08%. The ex-dividend date is Monday, April 7th. Edison International’s payout ratio is 97.07%.

Edison International 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.