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

Edison International (NYSE:EIX - Get Free Report) was the recipient of a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 5,580,000 shares, a drop 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 days-to-cover ratio is currently 2.6 days.

Insider Buying and Selling at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of the business's stock in a transaction on 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 filing with the SEC, which is available through this hyperlink. Company insiders own 1.03% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EIX. Lake Street Advisors Group LLC boosted its position in shares of Edison International by 4.3% during the 3rd quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider's stock valued at $263,000 after acquiring an additional 124 shares during the last quarter. Baker Tilly Wealth Management LLC boosted its position in shares of Edison International by 2.8% during the 3rd quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider's stock valued at $416,000 after acquiring an additional 129 shares during the last quarter. SFE Investment Counsel lifted its position in Edison International by 0.3% in the third quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider's stock worth $3,721,000 after buying an additional 130 shares during the last quarter. Equitable Trust Co. lifted its position in Edison International by 0.9% in the second quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider's stock worth $1,108,000 after buying an additional 132 shares during the last quarter. Finally, TIAA Trust National Association lifted its position in Edison International by 2.0% in the second quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider's stock worth $483,000 after buying an additional 134 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Morgan Stanley dropped 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. Barclays upped their price objective on shares of Edison International from $89.00 to $91.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Royal Bank of Canada raised their price objective 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. Jefferies Financial Group assumed coverage on shares of Edison International in a report on Thursday, November 7th. They set a "buy" rating and a $93.00 price objective for the company. Finally, Wells Fargo & Company raised their price objective on shares of Edison International from $87.00 to $94.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued 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.

Edison International Stock Performance

EIX traded down $0.72 during midday trading on Monday, hitting $81.17. 1,310,231 shares of the company traded hands, compared to its average volume of 2,026,560. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $31.42 billion, a PE ratio of 24.01, a price-to-earnings-growth ratio of 1.96 and a beta of 0.92. The company's 50-day moving average is $84.27 and its 200 day moving average is $81.21. Edison International has a 52 week low of $63.15 and a 52 week high of $88.77.

Edison International (NYSE:EIX - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating the consensus estimate of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.01 billion. During the same quarter in the prior year, the firm earned $1.38 EPS. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. On average, research analysts expect that Edison International will post 4.94 EPS for the current year.

Edison International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th will be paid a $0.8275 dividend. This represents a $3.31 annualized dividend and a yield of 4.08%. This is an increase from Edison International's previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Tuesday, January 7th. Edison International's dividend payout ratio is presently 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.

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