Edison International (NYSE:EIX) Short Interest Update

Edison International (NYSE:EIX) was the recipient of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 5,580,000 shares, a growth of 8.1% from the August 31st total of 5,160,000 shares. Based on an average daily volume of 1,890,000 shares, the days-to-cover ratio is presently 3.0 days.

Insider Activity

In related news, VP Natalie K. Schilling sold 2,341 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total value of $187,280.00. Following the transaction, the vice president now owns 6,338 shares of the company’s stock, valued at $507,040. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO J Andrew Murphy sold 28,995 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $78.43, for a total value of $2,274,077.85. Following the transaction, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at approximately $1,541,933.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Natalie K. Schilling sold 2,341 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total value of $187,280.00. Following the sale, the vice president now directly owns 6,338 shares of the company’s stock, valued at approximately $507,040. The disclosure for this sale can be found here. Insiders sold 89,099 shares of company stock valued at $7,223,342 in the last quarter. 1.03% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Edison International

Large investors have recently added to or reduced their stakes in the stock. CreativeOne Wealth LLC purchased a new position in shares of Edison International in the 1st quarter worth approximately $230,000. Swedbank AB increased its position in Edison International by 76.3% during the second quarter. Swedbank AB now owns 446,637 shares of the utilities provider’s stock valued at $32,073,000 after acquiring an additional 193,307 shares during the last quarter. Brookstone Capital Management raised its stake in shares of Edison International by 3,503.3% in the first quarter. Brookstone Capital Management now owns 135,341 shares of the utilities provider’s stock valued at $9,573,000 after acquiring an additional 131,585 shares during the period. Intech Investment Management LLC lifted its holdings in shares of Edison International by 44.9% in the 1st quarter. Intech Investment Management LLC now owns 46,263 shares of the utilities provider’s stock worth $3,272,000 after acquiring an additional 14,346 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Edison International by 14.5% during the 1st quarter. Sei Investments Co. now owns 321,567 shares of the utilities provider’s stock worth $22,744,000 after purchasing an additional 40,646 shares during the period. 88.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

EIX has been the subject of several analyst reports. Argus increased their target price on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Evercore ISI increased their price objective on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Royal Bank of Canada restated an “outperform” rating and set a $94.00 price objective on shares of Edison International in a research report on Monday, September 16th. Guggenheim upped their target price on shares of Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Bank of America assumed coverage on Edison International in a report on Thursday, September 12th. They set a “buy” rating and a $95.00 price target on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $86.17.

Edison International Stock Up 0.3 %

Shares of EIX opened at $87.07 on Tuesday. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.03 and a quick ratio of 0.96. The stock has a market capitalization of $33.50 billion, a price-to-earnings ratio of 38.19, a price-to-earnings-growth ratio of 1.99 and a beta of 0.91. Edison International has a 1 year low of $58.82 and a 1 year high of $88.77. The business’s 50 day simple moving average is $83.72 and its 200-day simple moving average is $76.30.

Edison International (NYSE:EIX) last released its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The company had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the prior year, the firm earned $1.01 earnings per share. Edison International’s revenue was up 9.4% on a year-over-year basis. As a group, equities analysts expect that Edison International will post 4.97 earnings per share for the current fiscal year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 7th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date of this dividend is Monday, October 7th. Edison International’s payout ratio is 136.84%.

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.