Edison International (NYSE:EIX) Short Interest Down 7.5% in November

Edison International (NYSE:EIX) was the recipient of a significant decline in short interest in the month of November. As of November 30th, there was short interest totalling 5,580,000 shares, a decline of 7.5% from the November 15th total of 6,030,000 shares. Based on an average daily trading volume, of 2,140,000 shares, the short-interest ratio is currently 2.6 days.

Insider Transactions at Edison International

In other news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.03% of the company’s stock.

Hedge Funds Weigh In On Edison International

Several large investors have recently made changes to their positions in EIX. Tidal Investments LLC increased its position in Edison International by 2.6% during the 3rd quarter. Tidal Investments LLC now owns 18,719 shares of the utilities provider’s stock valued at $1,630,000 after buying an additional 476 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Edison International during the third quarter valued at $188,000. World Investment Advisors LLC purchased a new position in shares of Edison International in the 3rd quarter worth about $221,000. Sanctuary Advisors LLC boosted its stake in Edison International by 11.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 31,940 shares of the utilities provider’s stock worth $2,762,000 after purchasing an additional 3,389 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in Edison International during the 3rd quarter valued at about $1,791,000. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Stock Down 0.9 %

EIX stock traded down $0.70 during midday trading on Tuesday, hitting $80.47. The stock had a trading volume of 2,004,898 shares, compared to its average volume of 2,026,435. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The firm has a market cap of $31.15 billion, a price-to-earnings ratio of 23.80, a price-to-earnings-growth ratio of 1.96 and a beta of 0.92. The business has a 50-day moving average of $84.20 and a two-hundred day moving average of $81.26. Edison International has a 52-week low of $63.15 and a 52-week high of $88.77.

Edison International (NYSE:EIX) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $5.01 billion. During the same period in the prior year, the firm earned $1.38 EPS. The company’s revenue was up 10.6% compared to the same quarter last year. As a group, equities research analysts forecast that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th will be paid a dividend of $0.8275 per share. This is an increase from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date is Tuesday, January 7th. This represents a $3.31 dividend on an annualized basis and a dividend yield of 4.11%. Edison International’s dividend payout ratio (DPR) is currently 97.07%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on EIX shares. UBS Group raised their price target on shares of Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Wells Fargo & Company raised their target price on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Argus upped their price target on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Jefferies Financial Group began coverage on Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price objective for the company. Finally, Barclays boosted their target price on Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $88.75.

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.