Short Interest in Edison International (NYSE:EIX) Declines By 7.5%

Edison International (NYSE:EIX) saw a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 5,580,000 shares, a decrease 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.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on EIX. Jefferies Financial Group started coverage on Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price objective for the company. Royal Bank of Canada upped their price target on shares of Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Morgan Stanley reduced their price objective on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. Argus increased their target price on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Finally, UBS Group raised their price target on Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $88.75.

Insider Activity at Edison International

In other Edison International 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 value of $2,127,657.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.03% of the stock is owned by company insiders.

Institutional Investors Weigh In On Edison International

Several hedge funds have recently added to or reduced their stakes in EIX. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Edison International during the 3rd quarter valued at about $1,387,000. Stifel Financial Corp grew its position in Edison International by 5.2% during the third quarter. Stifel Financial Corp now owns 309,716 shares of the utilities provider’s stock valued at $26,973,000 after acquiring an additional 15,181 shares during the last quarter. Baker Avenue Asset Management LP purchased a new position in shares of Edison International during the third quarter worth approximately $2,291,000. Bank of Montreal Can lifted its holdings in shares of Edison International by 5.3% in the 2nd quarter. Bank of Montreal Can now owns 695,620 shares of the utilities provider’s stock worth $50,022,000 after acquiring an additional 34,701 shares during the last quarter. Finally, Swedbank AB boosted its stake in shares of Edison International by 13.5% in the 3rd quarter. Swedbank AB now owns 506,819 shares of the utilities provider’s stock valued at $44,139,000 after purchasing an additional 60,182 shares in the last quarter. Institutional investors own 88.95% of the company’s stock.

Edison International Price Performance

NYSE EIX traded down $0.70 during trading on Tuesday, reaching $80.47. The company’s stock had a trading volume of 2,004,898 shares, compared to its average volume of 2,026,435. The stock has a market capitalization of $31.15 billion, a PE ratio of 23.80, a P/E/G ratio of 1.96 and a beta of 0.92. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The firm has a fifty day moving average of $84.20 and a 200 day moving average of $81.26. Edison International has a one year low of $63.15 and a one year high of $88.77.

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

Edison International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 7th will be paid a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date of this dividend is Tuesday, January 7th. This is a boost from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio is currently 97.07%.

Edison International Company Profile

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.