Edison International Sees Unusually Large Options Volume (NYSE:EIX)

Edison International (NYSE:EIX) was the recipient of unusually large options trading on Wednesday. Stock traders purchased 9,339 call options on the company. This represents an increase of approximately 49% compared to the average volume of 6,264 call options.

Edison International Price Performance

Shares of NYSE EIX traded up $1.28 during midday trading on Wednesday, hitting $60.03. The company had a trading volume of 1,280,706 shares, compared to its average volume of 5,640,909. The firm has a market capitalization of $23.11 billion, a price-to-earnings ratio of 17.60, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87. Edison International has a twelve month low of $49.06 and a twelve month high of $88.77. The business has a 50-day simple moving average of $54.86 and a two-hundred day simple moving average of $72.05. 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 (NYSE:EIX) last posted its quarterly earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company had revenue of $17.60 billion for the quarter, compared to analyst estimates of $3.92 billion. Equities research analysts anticipate that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be given a $0.8275 dividend. The ex-dividend date is Monday, April 7th. This represents a $3.31 annualized dividend and a dividend yield of 5.51%. Edison International’s dividend payout ratio is presently 100.30%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective for the company in a research note on Wednesday, January 15th. Wells Fargo & Company reduced their price target on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $72.00 price target on shares of Edison International in a research note on Wednesday, February 12th. The Goldman Sachs Group dropped their price objective on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Finally, Guggenheim downgraded shares of Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Edison International has an average rating of “Moderate Buy” and an average price target of $76.82.

Hedge Funds Weigh In On Edison International

Hedge funds have recently added to or reduced their stakes in the business. Crews Bank & Trust purchased a new position in shares of Edison International during the 4th quarter worth approximately $25,000. Groupama Asset Managment grew its holdings in Edison International by 0.8% during the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock valued at $26,000 after buying an additional 237 shares during the last quarter. Sierra Ocean LLC purchased a new position in Edison International during the fourth quarter worth $33,000. ST Germain D J Co. Inc. raised its holdings in shares of Edison International by 88.1% in the fourth quarter. ST Germain D J Co. Inc. now owns 427 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 200 shares during the last quarter. Finally, Raleigh Capital Management Inc. raised its holdings in shares of Edison International by 285.3% in the fourth quarter. Raleigh Capital Management Inc. now owns 420 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 311 shares during the last quarter. 88.95% of the stock is currently 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.