Edison International (NYSE:EIX) Short Interest Update

Edison International (NYSE:EIX) was the recipient of a significant increase in short interest in September. As of September 15th, there was short interest totalling 5,580,000 shares, an increase of 8.1% from the August 31st total of 5,160,000 shares. Based on an average daily trading volume, of 1,890,000 shares, the short-interest ratio is currently 3.0 days.

Edison International Stock Performance

Shares of NYSE:EIX opened at $87.73 on Wednesday. The firm has a fifty day simple moving average of $83.97 and a two-hundred day simple moving average of $76.43. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 2.04. The stock has a market capitalization of $33.88 billion, a P/E ratio of 38.48, a PEG ratio of 2.01 and a beta of 0.91. Edison International has a 52 week low of $58.82 and a 52 week high of $88.77.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The firm had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter in the previous year, the business earned $1.01 EPS. The company’s quarterly revenue was up 9.4% on a year-over-year basis. On average, analysts expect that Edison International will post 4.97 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, October 7th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.56%. Edison International’s dividend payout ratio is 136.84%.

Insider Transactions at Edison International

In other Edison International news, CEO J Andrew Murphy sold 28,995 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $78.43, for a total transaction of $2,274,077.85. Following the sale, the chief executive officer now directly owns 19,660 shares in the company, valued at approximately $1,541,933.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Edison International news, CEO J Andrew Murphy sold 28,995 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $78.43, for a total transaction of $2,274,077.85. Following the transaction, the chief executive officer now owns 19,660 shares in the company, valued at approximately $1,541,933.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Natalie K. Schilling sold 2,341 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the sale, the vice president now directly owns 6,338 shares in the company, valued at approximately $507,040. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 89,099 shares of company stock worth $7,223,342. Corporate insiders own 1.03% of the company’s stock.

Institutional Investors Weigh In On Edison International

A number of institutional investors and hedge funds have recently modified their holdings of EIX. CreativeOne Wealth LLC bought a new stake in Edison International during the 1st quarter valued at about $230,000. Swedbank AB raised its stake in shares of Edison International by 76.3% during the second quarter. Swedbank AB now owns 446,637 shares of the utilities provider’s stock valued at $32,073,000 after acquiring an additional 193,307 shares in the last quarter. Brookstone Capital Management boosted its holdings in shares of Edison International by 3,503.3% in the first quarter. Brookstone Capital Management now owns 135,341 shares of the utilities provider’s stock valued at $9,573,000 after purchasing an additional 131,585 shares during the period. Intech Investment Management LLC grew its stake in Edison International by 44.9% in the first quarter. Intech Investment Management LLC now owns 46,263 shares of the utilities provider’s stock worth $3,272,000 after purchasing an additional 14,346 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in Edison International by 14.5% during the 1st quarter. Sei Investments Co. now owns 321,567 shares of the utilities provider’s stock worth $22,744,000 after purchasing an additional 40,646 shares during the period. 88.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Guggenheim upped their target price on shares of Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a report on Friday, July 26th. Evercore ISI upped their price objective on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Morgan Stanley raised their target price on Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a report on Wednesday, September 25th. Wells Fargo & Company boosted their price target on Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, UBS Group raised their price objective on Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $86.17.

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.