Edison International Target of Unusually Large Options Trading (NYSE:EIX)

Edison International (NYSE:EIX) saw unusually large options trading on Tuesday. Traders bought 2,597 put options on the company. This is an increase of approximately 192% compared to the average volume of 888 put options.

Edison International Stock Down 1.1 %

NYSE EIX traded down $0.90 during trading hours on Tuesday, hitting $82.12. The company’s stock had a trading volume of 432,242 shares, compared to its average volume of 2,027,862. The company has a market capitalization of $31.79 billion, a PE ratio of 24.35, a price-to-earnings-growth ratio of 2.01 and a beta of 0.92. 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 52 week low of $63.15 and a 52 week high of $88.77. The company’s 50-day simple moving average is $84.67 and its two-hundred day simple moving average is $80.99.

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, beating analysts’ consensus estimates of $1.38 by $0.13. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company’s revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.38 EPS. Research analysts anticipate that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

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

Insiders Place Their Bets

In related news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Edison International

A number of institutional investors have recently added to or reduced their stakes in EIX. Highline Wealth Partners LLC bought a new position in shares of Edison International in the third quarter worth about $26,000. Groupama Asset Managment lifted its holdings in shares of Edison International by 0.8% in the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 237 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Edison International during the second quarter worth $27,000. Eastern Bank bought a new position in shares of Edison International during the third quarter valued at approximately $27,000. Finally, Farmers & Merchants Investments Inc. boosted its holdings in Edison International by 53.8% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 140 shares during the period. Institutional investors own 88.95% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Jefferies Financial Group initiated coverage on shares of Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target for the company. Morgan Stanley reduced their target price on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Wells Fargo & Company raised their price objective on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Barclays boosted their price target on Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Bank of America initiated coverage on Edison International in a report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $88.75.

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.