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

Edison International (NYSE:EIX) was the recipient of unusually large options trading activity on Wednesday. Traders purchased 8,183 put options on the stock. This is an increase of approximately 837% compared to the typical volume of 873 put options.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Morgan Stanley dropped their price target on Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Bank of America started coverage on Edison International in a research note on Thursday, September 12th. They issued a “buy” rating and a $95.00 price objective on the stock. Barclays raised Edison International from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $91.00 to $84.00 in a report on Thursday, January 2nd. Finally, UBS Group decreased their price objective on shares of Edison International from $96.00 to $87.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $88.00.

Edison International Stock Down 7.2 %

Shares of NYSE:EIX traded down $5.56 during trading on Wednesday, hitting $71.82. 3,105,971 shares of the company were exchanged, compared to its average volume of 2,003,280. The stock has a market cap of $27.81 billion, a price-to-earnings ratio of 21.06, a P/E/G ratio of 1.96 and a beta of 0.93. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. Edison International has a fifty-two week low of $63.15 and a fifty-two week high of $88.77. The firm has a fifty day moving average price of $82.52 and a two-hundred day moving average price of $81.91.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.13. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.38 EPS. As a group, research analysts anticipate that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th will be issued a $0.8275 dividend. The ex-dividend date is Tuesday, January 7th. This represents a $3.31 dividend on an annualized basis and a yield of 4.61%. This is an increase from Edison International’s previous quarterly dividend of $0.78. Edison International’s payout ratio is currently 97.07%.

Insider Buying and Selling

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Edison International

A number of hedge funds have recently added to or reduced their stakes in EIX. Lake Street Advisors Group LLC boosted its holdings in shares of Edison International by 4.3% in the 3rd quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock valued at $263,000 after purchasing an additional 124 shares in the last quarter. Baker Tilly Wealth Management LLC boosted its stake in Edison International by 2.8% in the third quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock valued at $416,000 after buying an additional 129 shares in the last quarter. SFE Investment Counsel grew 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 valued at $3,721,000 after acquiring an additional 130 shares during the last quarter. Asset Dedication LLC raised its stake in Edison International by 37.5% during the second quarter. Asset Dedication LLC now owns 550 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 150 shares in the last quarter. Finally, Assetmark Inc. lifted its holdings in shares of Edison International by 32.9% in the third quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock worth $55,000 after acquiring an additional 157 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

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.