Metis Global Partners LLC Acquires 9,108 Shares of Edison International (NYSE:EIX)

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

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Highline Wealth Partners LLC bought a new stake in Edison International in the 3rd quarter valued at $26,000. Eastern Bank acquired a new stake in Edison International in the 3rd quarter worth about $27,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Edison International during the 2nd quarter worth approximately $27,000. Concord Wealth Partners increased its holdings in shares of Edison International by 277.0% during the third quarter. Concord Wealth Partners now owns 377 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 277 shares during the period. Finally, Country Trust Bank acquired a new stake in shares of Edison International in the second quarter valued at approximately $29,000. 88.95% of the stock is owned by institutional investors.

Insider Activity

In related news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is available through this link. In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO J Andrew Murphy sold 23,896 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 19,850 shares in the company, valued at $1,696,182.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,878 shares of company stock valued at $4,285,422. Insiders own 1.03% of the company’s stock.

Edison International Trading Down 0.7 %

NYSE EIX opened at $82.18 on Thursday. Edison International has a twelve month low of $63.15 and a twelve month high of $88.77. The business’s fifty day moving average is $84.72 and its 200 day moving average is $79.50. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The company has a market cap of $31.82 billion, a price-to-earnings ratio of 24.10, a price-to-earnings-growth ratio of 1.98 and a beta of 0.92.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. During the same period last year, the firm posted $1.38 earnings per share. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, sell-side analysts expect that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Jefferies Financial Group began coverage on Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price objective for the company. Wells Fargo & Company upped their price objective on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. UBS Group raised their target price on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Guggenheim upped their price target on shares of Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Bank of America assumed coverage on shares of Edison International in a research note on Thursday, September 12th. They issued a “buy” rating and a $95.00 price objective on the stock. One equities research 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. According to data from MarketBeat, the stock 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.