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

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

Wall Street Analyst Weigh In

Several analysts have weighed in on EIX shares. Bank of America started coverage on shares of Edison International in a research note on Thursday, September 12th. They issued a “buy” rating and a $95.00 price target for the company. Royal Bank of Canada upped their price objective on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Barclays upped their price objective on shares of Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Evercore ISI upped their target price on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Finally, Morgan Stanley lowered their price objective on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Edison International currently has an average rating of “Moderate Buy” and an average target price of $88.75.

Edison International Trading Down 0.1 %

EIX traded down $0.09 on Tuesday, reaching $85.69. 407,796 shares of the company’s stock were exchanged, compared to its average volume of 2,028,647. The company’s 50 day moving average is $84.88 and its 200-day moving average is $80.70. The company 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. Edison International has a twelve month low of $63.15 and a twelve month high of $88.77. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88.

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

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors 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 dividend payout ratio is currently 91.50%.

Insiders Place Their Bets

In other news, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were 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. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Edison International

Hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp lifted its position in shares of Edison International by 0.7% during the 3rd quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock worth $2,834,774,000 after buying an additional 224,337 shares during the period. FMR LLC grew its stake in shares of Edison International by 8.7% during the third quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock worth $1,898,638,000 after purchasing an additional 1,741,835 shares during the period. Geode Capital Management LLC grew its stake in shares of Edison International by 2.2% during the third quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider’s stock worth $835,142,000 after purchasing an additional 210,461 shares during the period. Clearbridge Investments LLC grew its stake in shares of Edison International by 0.5% during the second quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock worth $360,198,000 after purchasing an additional 24,834 shares during the period. Finally, American Century Companies Inc. grew its stake in Edison International by 1.8% in the second quarter. American Century Companies Inc. now owns 3,864,399 shares of the utilities provider’s stock valued at $277,503,000 after acquiring an additional 67,089 shares during the period. 88.95% of the stock is owned by hedge funds and other institutional investors.

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.