Edison International $EIX Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC lessened its position in shares of Edison International (NYSE:EIX) by 1.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 100,431 shares of the utilities provider’s stock after selling 1,917 shares during the period. MetLife Investment Management LLC’s holdings in Edison International were worth $5,917,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Edison International by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 49,083,555 shares of the utilities provider’s stock worth $2,892,003,000 after acquiring an additional 493,778 shares in the last quarter. Invesco Ltd. grew its holdings in Edison International by 19.8% during the 1st quarter. Invesco Ltd. now owns 5,770,535 shares of the utilities provider’s stock worth $340,000,000 after acquiring an additional 953,897 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Edison International by 111.6% during the 1st quarter. JPMorgan Chase & Co. now owns 5,663,427 shares of the utilities provider’s stock worth $333,689,000 after acquiring an additional 2,987,318 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Edison International by 7.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,163,408 shares of the utilities provider’s stock worth $412,246,000 after acquiring an additional 371,043 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Edison International by 42.7% during the 1st quarter. Ameriprise Financial Inc. now owns 3,988,091 shares of the utilities provider’s stock worth $234,978,000 after acquiring an additional 1,194,296 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Morgan Stanley reiterated an “overweight” rating on shares of Edison International in a report on Thursday, August 21st. Barclays upped their target price on shares of Edison International from $64.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, August 4th. Wolfe Research cut shares of Edison International from an “outperform” rating to a “peer perform” rating in a report on Monday, June 9th. JPMorgan Chase & Co. lowered their target price on shares of Edison International from $75.00 to $71.00 and set a “neutral” rating for the company in a report on Monday, May 19th. Finally, Evercore ISI restated an “outperform” rating on shares of Edison International in a report on Thursday, May 15th. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Edison International currently has an average rating of “Moderate Buy” and a consensus target price of $75.21.

Edison International Stock Down 1.2%

Shares of NYSE:EIX opened at $54.72 on Friday. The stock has a market cap of $21.06 billion, a P/E ratio of 8.04, a P/E/G ratio of 1.30 and a beta of 0.75. The firm has a fifty day moving average price of $52.92 and a 200 day moving average price of $54.40. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.87 and a quick ratio of 0.81. Edison International has a 1-year low of $47.73 and a 1-year high of $88.77.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. The firm had revenue of $4.54 billion during the quarter, compared to analysts’ expectations of $4.52 billion. Edison International had a net margin of 16.00% and a return on equity of 11.99%. Edison International’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.23 EPS. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. Sell-side analysts predict that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, July 7th were paid a dividend of $0.8275 per share. The ex-dividend date was Monday, July 7th. This represents a $3.31 dividend on an annualized basis and a yield of 6.0%. Edison International’s dividend payout ratio is currently 48.60%.

About Edison International

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.