Edison International (NYSE:EIX) was the recipient of a large growth in short interest in the month of June. As of June 30th, there was short interest totalling 6,024,400 shares, a growth of 21.7% from the May 30th total of 4,952,200 shares. Approximately 1.9% of the shares of the company are sold short. Based on an average trading volume of 2,200,000 shares, the short-interest ratio is currently 2.7 days.
Large investors have recently made changes to their positions in the company. Advisor Group Inc. boosted its stake in shares of Edison International by 32.0% during the 4th quarter. Advisor Group Inc. now owns 12,930 shares of the utilities provider’s stock worth $734,000 after acquiring an additional 3,138 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Edison International during the 1st quarter worth approximately $276,000. OppenheimerFunds Inc. boosted its stake in shares of Edison International by 24.6% during the 1st quarter. OppenheimerFunds Inc. now owns 1,003,826 shares of the utilities provider’s stock worth $62,157,000 after acquiring an additional 198,252 shares in the last quarter. Sowell Financial Services LLC purchased a new stake in shares of Edison International during the 4th quarter worth approximately $210,000. Finally, Neuburgh Advisers LLC boosted its stake in shares of Edison International by 105.4% during the 1st quarter. Neuburgh Advisers LLC now owns 51,502 shares of the utilities provider’s stock worth $3,189,000 after acquiring an additional 26,422 shares in the last quarter. 82.34% of the stock is currently owned by institutional investors and hedge funds.
Shares of EIX opened at $70.64 on Monday. Edison International has a twelve month low of $45.50 and a twelve month high of $71.54. The firm has a 50 day simple moving average of $63.58. The stock has a market cap of $23.02 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 2.72 and a beta of 0.14. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.74 and a quick ratio of 0.69.
Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.25). The business had revenue of $2.82 billion during the quarter, compared to analysts’ expectations of $2.78 billion. Edison International had a negative net margin of 1.94% and a positive return on equity of 10.28%. Edison International’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.80 EPS. On average, equities analysts predict that Edison International will post 4.72 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 8th will be paid a dividend of $0.6125 per share. This represents a $2.45 annualized dividend and a dividend yield of 3.47%. The ex-dividend date is Friday, July 5th. Edison International’s dividend payout ratio (DPR) is 59.04%.
EIX has been the topic of several recent research reports. SunTrust Banks boosted their price target on Edison International to $77.00 and gave the company a “positive” rating in a research report on Monday, April 15th. Barclays reaffirmed a “hold” rating and issued a $14.00 price objective on shares of MACOM Technology Solutions in a report on Thursday, June 20th. Wells Fargo & Co lifted their price objective on American Woodmark from $70.00 to $80.00 and gave the company a “market perform” rating in a report on Wednesday, May 29th. Wolfe Research raised Edison International from a “peer perform” rating to an “outperform” rating in a report on Monday, May 6th. Finally, Zacks Investment Research raised GCP Applied Technologies from a “sell” rating to a “hold” rating in a report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $71.27.
About Edison International
Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.
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