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

Edison International (NYSE:EIX) was the recipient of a large increase in short interest in May. As of May 31st, there was short interest totalling 5,180,000 shares, an increase of 6.4% from the May 15th total of 4,870,000 shares. Based on an average trading volume of 1,790,000 shares, the short-interest ratio is currently 2.9 days.

Edison International Stock Performance

Shares of NYSE EIX opened at $71.53 on Tuesday. Edison International has a 52 week low of $58.82 and a 52 week high of $77.04. The stock has a market capitalization of $27.52 billion, a PE ratio of 31.37 and a beta of 0.95. The stock has a 50 day moving average price of $72.88 and a 200 day moving average price of $70.21. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.93 and a current ratio of 1.00.

Edison International (NYSE:EIX) last announced its earnings results on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.01. Edison International had a return on equity of 12.48% and a net margin of 6.14%. The company had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.16 billion. During the same quarter last year, the company earned $1.09 earnings per share. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. Analysts predict that Edison International will post 4.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO J Andrew Murphy sold 9,794 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $75.07, for a total value of $735,235.58. Following the completion of the sale, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at approximately $1,475,876.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO J Andrew Murphy sold 9,794 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $75.07, for a total value of $735,235.58. Following the completion of the sale, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at approximately $1,475,876.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Caroline Choi sold 10,004 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $75.77, for a total value of $758,003.08. Following the sale, the senior vice president now directly owns 26,918 shares of the company’s stock, valued at $2,039,576.86. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,897 shares of company stock valued at $5,851,245. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Edison International

Several hedge funds and other institutional investors have recently modified their holdings of the business. Able Wealth Management LLC acquired a new position in Edison International during the 4th quarter worth about $25,000. Bruce G. Allen Investments LLC bought a new stake in Edison International in the 4th quarter valued at about $27,000. Global Trust Asset Management LLC bought a new stake in Edison International in the 1st quarter valued at about $28,000. WASHINGTON TRUST Co increased its holdings in Edison International by 117.4% during the 4th quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 270 shares in the last quarter. Finally, Northwest Financial Advisors bought a new stake in Edison International during the 4th quarter worth approximately $40,000. Institutional investors own 88.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on EIX shares. Barclays raised their target price on Edison International from $72.00 to $75.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. Argus raised their target price on Edison International from $78.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday, June 12th. TheStreet lowered Edison International from a “b” rating to a “c+” rating in a report on Thursday, February 22nd. Wells Fargo & Company raised Edison International from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $72.00 to $86.00 in a report on Tuesday, May 14th. Finally, StockNews.com raised Edison International from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $77.70.

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.