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

Edison International (NYSE:EIX - Get Free Report) was the target of a large decline in short interest in March. As of March 31st, there was short interest totalling 7,180,000 shares, a decline of 15.7% from the March 15th total of 8,520,000 shares. Based on an average trading volume of 5,710,000 shares, the short-interest ratio is currently 1.3 days. Approximately 1.9% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

EIX has been the subject of a number of analyst reports. JPMorgan Chase & Co. restated a "neutral" rating and set a $72.00 price target on shares of Edison International in a research note on Wednesday, February 12th. Morgan Stanley reaffirmed an "overweight" rating on shares of Edison International in a research note on Wednesday. The Goldman Sachs Group dropped their price objective on Edison International from $88.00 to $68.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. LADENBURG THALM/SH SH raised shares of Edison International from a "sell" rating to a "neutral" rating and set a $56.50 target price on the stock in a report on Wednesday, January 15th. Finally, Mizuho reduced their price target on shares of Edison International from $75.00 to $66.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $76.75.

Edison International Trading Down 0.4 %

NYSE EIX traded down $0.25 during trading hours on Friday, hitting $57.95. The company's stock had a trading volume of 2,966,172 shares, compared to its average volume of 2,955,109. The stock has a fifty day moving average of $56.12 and a 200 day moving average of $68.25. The firm has a market capitalization of $22.31 billion, a P/E ratio of 16.99, a PEG ratio of 1.07 and a beta of 0.74. Edison International has a twelve month low of $49.06 and a twelve month high of $88.77. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.03). The firm had revenue of $17.60 billion for the quarter, compared to the consensus estimate of $3.92 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. Equities research analysts forecast that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be issued a dividend of $0.8275 per share. The ex-dividend date is Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.71%. Edison International's payout ratio is 100.30%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC raised its holdings in Edison International by 16.9% during the third quarter. Barclays PLC now owns 918,489 shares of the utilities provider's stock worth $79,991,000 after acquiring an additional 132,749 shares in the last quarter. Virtu Financial LLC acquired a new position in Edison International during the third quarter worth approximately $1,791,000. World Investment Advisors LLC bought a new stake in Edison International in the third quarter valued at approximately $221,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Edison International in the third quarter valued at approximately $188,000. Finally, Tidal Investments LLC boosted its stake in shares of Edison International by 2.6% during the 3rd quarter. Tidal Investments LLC now owns 18,719 shares of the utilities provider's stock worth $1,630,000 after acquiring an additional 476 shares during the period. 88.95% of the stock is owned by institutional investors and hedge funds.

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.