Short Interest in Edison International (NYSE:EIX) Expands By 6.5%

Edison International (NYSE:EIXGet Rating) saw a large growth in short interest in August. As of August 31st, there was short interest totalling 5,940,000 shares, a growth of 6.5% from the August 15th total of 5,580,000 shares. Based on an average trading volume of 1,610,000 shares, the days-to-cover ratio is presently 3.7 days.

Hedge Funds Weigh In On Edison International

A number of institutional investors have recently added to or reduced their stakes in the company. Private Trust Co. NA bought a new position in shares of Edison International during the second quarter valued at $187,000. Royal London Asset Management Ltd. lifted its position in shares of Edison International by 1.7% during the 2nd quarter. Royal London Asset Management Ltd. now owns 133,786 shares of the utilities provider’s stock valued at $8,464,000 after buying an additional 2,292 shares in the last quarter. Verition Fund Management LLC lifted its position in shares of Edison International by 76.3% during the 2nd quarter. Verition Fund Management LLC now owns 167,305 shares of the utilities provider’s stock valued at $10,580,000 after buying an additional 72,406 shares in the last quarter. M&G Investment Management Ltd. lifted its position in shares of Edison International by 37.6% during the 2nd quarter. M&G Investment Management Ltd. now owns 1,846,026 shares of the utilities provider’s stock valued at $116,300,000 after buying an additional 503,970 shares in the last quarter. Finally, Prelude Capital Management LLC bought a new stake in Edison International during the 2nd quarter valued at approximately $686,000. Institutional investors own 87.21% of the company’s stock.

Analyst Upgrades and Downgrades

EIX has been the subject of several research analyst reports. Mizuho lowered their price objective on shares of Edison International from $72.00 to $71.00 and set a “neutral” rating for the company in a research note on Wednesday, August 24th. UBS Group lowered their price objective on shares of Edison International from $73.00 to $68.00 and set a “neutral” rating for the company in a research note on Thursday, June 30th. Barclays decreased their price target on shares of Edison International from $73.00 to $67.00 and set an “equal weight” rating for the company in a research note on Monday, July 18th. Morgan Stanley lowered shares of Edison International from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $69.00 to $62.00 in a research note on Tuesday, September 6th. Finally, Bank of America restated an “underperform” rating on shares of Edison International in a research note on Thursday, July 14th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $72.44.

Edison International Trading Down 2.2 %

Shares of Edison International stock opened at $66.21 on Thursday. Edison International has a 52-week low of $54.98 and a 52-week high of $73.32. The stock’s 50-day simple moving average is $67.46 and its 200 day simple moving average is $67.16. The stock has a market capitalization of $25.25 billion, a P/E ratio of 50.16, a P/E/G ratio of 5.15 and a beta of 0.67. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.56 and a current ratio of 0.61.

Edison International (NYSE:EIXGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The utilities provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.04. The company had revenue of $4.01 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Edison International had a net margin of 3.63% and a return on equity of 12.42%. Edison International’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.94 earnings per share. As a group, research analysts anticipate that Edison International will post 4.43 EPS for the current year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date of this dividend is Thursday, September 29th. Edison International’s payout ratio is 212.12%.

Edison International Company Profile

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Edison International, through its subsidiaries, generates and distributes electric power. It delivers electricity to 15 million residential, commercial, industrial, public authorities, agricultural, and other customers across Southern, Central, and Coastal California. The company also provides energy solutions to commercial and industrial users.

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