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

Edison International (NYSE:EIX) was the recipient of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 8,910,000 shares, an increase of 47.5% from the January 15th total of 6,040,000 shares. Based on an average daily trading volume, of 4,140,000 shares, the short-interest ratio is currently 2.2 days.

Edison International Stock Down 2.7 %

Shares of EIX stock opened at $50.11 on Friday. The stock has a 50 day moving average of $67.14 and a 200 day moving average of $78.53. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The stock has a market cap of $19.40 billion, a P/E ratio of 14.69, a P/E/G ratio of 1.05 and a beta of 0.90. Edison International has a twelve month low of $49.06 and a twelve month high of $88.77.

Edison International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, January 7th were given a dividend of $0.8275 per share. This is a boost from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 annualized dividend and a yield of 6.61%. The ex-dividend date was Tuesday, January 7th. Edison International’s dividend payout ratio (DPR) is currently 97.07%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of EIX. Highline Wealth Partners LLC purchased a new stake in shares of Edison International in the third quarter valued at approximately $26,000. Eastern Bank purchased a new stake in shares of Edison International in the third quarter valued at approximately $27,000. Crews Bank & Trust purchased a new stake in shares of Edison International in the fourth quarter valued at approximately $25,000. Larson Financial Group LLC increased its position in shares of Edison International by 125.0% in the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after buying an additional 195 shares in the last quarter. Finally, Prospera Private Wealth LLC acquired a new stake in shares of Edison International in the third quarter worth approximately $32,000. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on EIX shares. Wells Fargo & Company raised their price target on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Jefferies Financial Group began coverage on Edison International in a research report on Thursday, November 7th. They set a “buy” rating and a $93.00 price objective on the stock. UBS Group dropped their price objective on Edison International from $87.00 to $69.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price objective on the stock in a research report on Wednesday, January 15th. Finally, Barclays dropped their price objective on Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $80.39.

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.