Edison International (NYSE:EIX) Sees Significant Decrease in Short Interest

Edison International (NYSE:EIX) saw a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 5,580,000 shares, a drop of 7.5% from the November 15th total of 6,030,000 shares. Based on an average daily trading volume, of 2,140,000 shares, the days-to-cover ratio is currently 2.6 days.

Insider Buying and Selling

In other 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 SEC, which is accessible through this link. 1.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of EIX. Tidal Investments LLC increased its position in shares of Edison International by 2.6% in the third quarter. Tidal Investments LLC now owns 18,719 shares of the utilities provider’s stock valued at $1,630,000 after buying an additional 476 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Edison International in the third quarter valued at approximately $188,000. World Investment Advisors LLC purchased a new stake in shares of Edison International in the third quarter valued at approximately $221,000. Sanctuary Advisors LLC increased its position in shares of Edison International by 11.9% in the third quarter. Sanctuary Advisors LLC now owns 31,940 shares of the utilities provider’s stock valued at $2,762,000 after buying an additional 3,389 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Edison International in the third quarter valued at approximately $1,791,000. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on EIX. UBS Group lifted their target price on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Morgan Stanley cut their target price on Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Bank of America started coverage on Edison International in a research note on Thursday, September 12th. They issued a “buy” rating and a $95.00 target price on the stock. Argus raised their price target on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Finally, Royal Bank of Canada raised their price target on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $88.75.

Edison International Stock Performance

Shares of Edison International stock traded down $0.72 on Monday, reaching $81.17. 1,310,231 shares of the stock were exchanged, compared to its average volume of 2,026,560. 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 twelve month low of $63.15 and a twelve month high of $88.77. The firm has a market capitalization of $31.42 billion, a price-to-earnings ratio of 24.01, a PEG ratio of 1.96 and a beta of 0.92. The business has a 50 day moving average price of $84.27 and a two-hundred day moving average price of $81.21.

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

Edison International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 7th will be given a dividend of $0.8275 per share. This is a boost from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 annualized dividend and a yield of 4.08%. The ex-dividend date of this dividend is Tuesday, January 7th. Edison International’s dividend payout ratio (DPR) is currently 97.07%.

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.