Edison International (NYSE:EIX) Short Interest Down 15.7% in March

Edison International (NYSE:EIX) was the target of a significant decline in short interest in the month of 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. Currently, 1.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 5,710,000 shares, the short-interest ratio is presently 1.3 days.

Edison International Trading Down 1.8 %

Shares of Edison International stock traded down $1.04 during trading on Monday, reaching $56.36. The company’s stock had a trading volume of 107,545 shares, compared to its average volume of 2,936,570. 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 has a 52-week low of $49.06 and a 52-week high of $88.77. The firm’s 50-day moving average is $55.47 and its two-hundred day moving average is $68.98. The company has a market cap of $21.70 billion, a price-to-earnings ratio of 16.49, a PEG ratio of 1.07 and a beta of 0.74.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). The firm had revenue of $17.60 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. On average, sell-side analysts anticipate that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be paid a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a yield of 5.87%. The ex-dividend date of this dividend is Monday, April 7th. Edison International’s payout ratio is 100.30%.

Hedge Funds Weigh In On Edison International

Several institutional investors and hedge funds have recently modified their holdings of the stock. Jamison Private Wealth Management Inc. grew its position in shares of Edison International by 2.6% in the fourth quarter. Jamison Private Wealth Management Inc. now owns 6,887 shares of the utilities provider’s stock valued at $550,000 after purchasing an additional 174 shares during the period. Bleakley Financial Group LLC raised its holdings in shares of Edison International by 2.9% during the fourth quarter. Bleakley Financial Group LLC now owns 6,297 shares of the utilities provider’s stock valued at $503,000 after acquiring an additional 176 shares during the last quarter. Old Port Advisors grew its holdings in shares of Edison International by 0.9% during the fourth quarter. Old Port Advisors now owns 19,292 shares of the utilities provider’s stock worth $1,540,000 after buying an additional 180 shares in the last quarter. Centre Asset Management LLC grew its stake in Edison International by 8.1% during the 4th quarter. Centre Asset Management LLC now owns 2,656 shares of the utilities provider’s stock valued at $212,000 after acquiring an additional 199 shares in the last quarter. Finally, ST Germain D J Co. Inc. boosted its holdings in Edison International by 88.1% in the 4th quarter. ST Germain D J Co. Inc. now owns 427 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on EIX. UBS Group upgraded shares of Edison International from a “neutral” rating to a “buy” rating and dropped their target price for the company from $69.00 to $65.00 in a research report on Tuesday, February 18th. Wells Fargo & Company lowered their price target on Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Mizuho lowered their target price on Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. The Goldman Sachs Group reduced their price target on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $72.00 price objective on shares of Edison International in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Edison International has a consensus rating of “Moderate Buy” and an average price target of $76.75.

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.