Edison International (NYSE:EIX) Short Interest Update

Edison International (NYSE:EIX) was the target of a significant growth in short interest in November. As of November 15th, there was short interest totalling 6,030,000 shares, a growth of 5.8% from the October 31st total of 5,700,000 shares. Based on an average trading volume of 2,150,000 shares, the short-interest ratio is currently 2.8 days.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Jefferies Financial Group began coverage on Edison International in a research report on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price on the stock. Evercore ISI increased their price target on Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Wells Fargo & Company raised their target price on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Royal Bank of Canada lifted their price objective on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, Bank of America initiated coverage on Edison International in a research note on Thursday, September 12th. They issued a “buy” rating and a $95.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Edison International presently has a consensus rating of “Moderate Buy” and an average target price of $88.75.

Edison International Stock Performance

NYSE:EIX traded down $0.09 during trading hours on Tuesday, reaching $85.69. The company had a trading volume of 407,796 shares, compared to its average volume of 2,028,647. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. Edison International has a 52 week low of $63.15 and a 52 week high of $88.77. The firm has a market cap of $33.17 billion, a price-to-earnings ratio of 25.16, a PEG ratio of 2.10 and a beta of 0.92. The firm’s 50 day moving average price is $84.88 and its 200-day moving average price is $80.70.

Edison International (NYSE:EIX) last released its 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. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.01 billion. During the same quarter in the previous year, the company earned $1.38 EPS. Edison International’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, analysts forecast that Edison International will post 4.94 EPS for the current year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s payout ratio is currently 91.50%.

Insider Buying and Selling

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Edison International

Several hedge funds have recently bought and sold shares of the stock. Highline Wealth Partners LLC bought a new position in Edison International in the 3rd quarter worth about $26,000. Groupama Asset Managment lifted its position in Edison International by 0.8% during the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 237 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Edison International during the second quarter valued at approximately $27,000. Eastern Bank purchased a new stake in Edison International during the third quarter valued at approximately $27,000. Finally, Country Trust Bank purchased a new stake in Edison International during the second quarter valued at approximately $29,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

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.