Traders Buy High Volume of Put Options on Edison International (NYSE:EIX)

Edison International (NYSE:EIX) was the recipient of unusually large options trading on Tuesday. Investors acquired 2,597 put options on the stock. This represents an increase of 192% compared to the average volume of 888 put options.

Insider Buying and Selling

In other news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. State Street Corp grew its position in shares of Edison International by 0.7% during the third quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock worth $2,834,774,000 after purchasing an additional 224,337 shares in the last quarter. FMR LLC raised its position in shares of Edison International by 8.7% in the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock worth $1,898,638,000 after acquiring an additional 1,741,835 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Edison International by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider’s stock valued at $835,142,000 after purchasing an additional 210,461 shares during the last quarter. Clearbridge Investments LLC raised its position in Edison International by 0.5% during the 2nd quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock worth $360,198,000 after buying an additional 24,834 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Edison International by 1.8% during the 2nd quarter. American Century Companies Inc. now owns 3,864,399 shares of the utilities provider’s stock valued at $277,503,000 after purchasing an additional 67,089 shares in the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Edison International Stock Down 1.1 %

Edison International stock traded down $0.90 during mid-day trading on Tuesday, reaching $82.12. The company’s stock had a trading volume of 432,242 shares, compared to its average volume of 2,027,862. The business’s 50 day simple moving average is $84.67 and its 200 day simple moving average is $80.99. Edison International has a 12 month low of $63.15 and a 12 month high of $88.77. The company has a market capitalization of $31.79 billion, a price-to-earnings ratio of 24.35, a price-to-earnings-growth ratio of 2.01 and a beta of 0.92. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter in the previous year, the firm earned $1.38 earnings per share. The business’s quarterly revenue was up 10.6% on a year-over-year basis. As a group, research analysts anticipate that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s dividend payout ratio is currently 91.50%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on EIX shares. Barclays raised their price objective on shares of Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Wells Fargo & Company raised their target price on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Jefferies Financial Group began coverage on Edison International in a research note on Thursday, November 7th. They set a “buy” rating and a $93.00 price target on the stock. Bank of America started coverage on shares of Edison International in a research note on Thursday, September 12th. They set a “buy” rating and a $95.00 price objective for the company. Finally, UBS Group upped their price objective on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.