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

Edison International (NYSE:EIX) was the recipient of a significant decline in short interest in November. As of November 30th, there was short interest totalling 5,580,000 shares, a decline of 7.5% from the November 15th total of 6,030,000 shares. Based on an average daily volume of 2,140,000 shares, the short-interest ratio is presently 2.6 days.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on EIX shares. Jefferies Financial Group initiated coverage on Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price for the company. Royal Bank of Canada boosted their price target 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. Bank of America started coverage on shares of Edison International in a report on Thursday, September 12th. They set a “buy” rating and a $95.00 price objective for the company. Wells Fargo & Company boosted their target price on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Argus raised their price target on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Edison International currently has an average rating of “Moderate Buy” and a consensus target price of $88.75.

Insider Buying and Selling at Edison International

In other news, VP Adam S. Umanoff sold 25,619 shares of Edison International 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 legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.03% of the company’s stock.

Institutional Trading of Edison International

A number of large investors have recently added to or reduced their stakes in EIX. Highline Wealth Partners LLC purchased a new position in shares of Edison International in the 3rd quarter worth $26,000. Groupama Asset Managment increased its stake in Edison International by 0.8% in the third quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 237 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in Edison International during the 2nd quarter valued at about $27,000. Eastern Bank bought a new stake in shares of Edison International during the third quarter valued at approximately $27,000. Finally, Farmers & Merchants Investments Inc. increased its holdings in Edison International by 53.8% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 140 shares during the period. Institutional investors own 88.95% of the company’s stock.

Edison International Stock Down 0.9 %

EIX opened at $80.47 on Wednesday. The firm’s 50 day simple moving average is $84.11 and its two-hundred day simple moving average is $81.29. The company has a market capitalization of $31.15 billion, a PE ratio of 23.60, a PEG ratio of 1.96 and a beta of 0.92. Edison International has a 1-year low of $63.15 and a 1-year high of $88.77. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company’s revenue was up 10.6% on a year-over-year basis. During the same period last year, the firm posted $1.38 EPS. As a group, equities analysts forecast that Edison International will post 4.94 EPS for the current 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 given a $0.8275 dividend. This is an increase from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date of this dividend is Tuesday, January 7th. Edison International’s 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.