MetLife Investment Management LLC Has $8.74 Million Stake in Edison International (NYSE:EIX)

MetLife Investment Management LLC lowered its holdings in Edison International (NYSE:EIX) by 2.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,312 shares of the utilities provider’s stock after selling 2,231 shares during the period. MetLife Investment Management LLC’s holdings in Edison International were worth $8,736,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC acquired a new stake in shares of Edison International in the third quarter valued at about $26,000. Eastern Bank bought a new position in shares of Edison International in the third quarter valued at $27,000. Larson Financial Group LLC increased its holdings in Edison International by 125.0% during the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after buying an additional 195 shares during the last quarter. Prospera Private Wealth LLC acquired a new position in Edison International during the third quarter worth $32,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Edison International during the second quarter worth $27,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Edison International

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.03% of the stock is currently owned by insiders.

Edison International Price Performance

Shares of Edison International stock opened at $88.36 on Friday. 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 stock has a market capitalization of $34.21 billion, a price-to-earnings ratio of 25.91, a price-to-earnings-growth ratio of 2.11 and a beta of 0.92. Edison International has a twelve month low of $63.15 and a twelve month high of $88.77. The company has a 50-day simple moving average of $84.84 and a two-hundred day simple moving average of $80.46.

Edison International (NYSE:EIX) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.38 earnings per share. Analysts forecast that Edison International will post 4.94 EPS for the current year.

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.53%. The ex-dividend date was Monday, October 7th. Edison International’s dividend payout ratio (DPR) is currently 91.50%.

Analyst Ratings Changes

Several research firms have recently weighed in on EIX. Jefferies Financial Group started coverage on shares of Edison International in a research note on Thursday, November 7th. They set a “buy” rating and a $93.00 price objective on the stock. Royal Bank of Canada upped their price objective on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Evercore ISI lifted their target price on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Argus increased their price target on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Finally, Morgan Stanley reduced their price objective on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Edison International has an average rating of “Moderate Buy” and an average target price of $88.75.

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.