Edison International (NYSE:EIX) Short Interest Up 7.1% in August

Edison International (NYSE:EIX) was the recipient of a large growth in short interest in August. As of August 15th, there was short interest totalling 7,080,000 shares, a growth of 7.1% from the July 31st total of 6,610,000 shares. Based on an average daily volume of 1,450,000 shares, the days-to-cover ratio is currently 4.9 days.

Edison International Stock Performance

NYSE EIX opened at $68.41 on Friday. The stock has a 50-day simple moving average of $70.04 and a two-hundred day simple moving average of $69.64. The firm has a market capitalization of $26.22 billion, a P/E ratio of 27.58, a PEG ratio of 4.00 and a beta of 0.80. Edison International has a fifty-two week low of $54.45 and a fifty-two week high of $74.92. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.78 and a current ratio of 0.84.

Edison International (NYSE:EIX) last released its quarterly earnings data on Thursday, July 27th. The utilities provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.06. The business had revenue of $3.96 billion during the quarter, compared to analyst estimates of $4.28 billion. Edison International had a return on equity of 12.69% and a net margin of 6.81%. The company’s revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the business posted $0.94 EPS. On average, equities analysts forecast that Edison International will post 4.73 earnings per share for the current year.

Edison International Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be paid a $0.7375 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.95 annualized dividend and a dividend yield of 4.31%. Edison International’s dividend payout ratio is presently 118.95%.

Wall Street Analyst Weigh In

EIX has been the subject of a number of recent analyst reports. Guggenheim cut Edison International from a “buy” rating to a “neutral” rating in a research report on Friday, July 7th. Barclays initiated coverage on Edison International in a research report on Wednesday, August 23rd. They issued an “equal weight” rating and a $68.00 price objective for the company. StockNews.com started coverage on Edison International in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Morgan Stanley lowered their price target on Edison International from $56.00 to $51.00 and set an “underweight” rating for the company in a research report on Wednesday, August 23rd. Finally, LADENBURG THALM/SH SH raised Edison International from a “sell” rating to a “neutral” rating in a research report on Tuesday, August 15th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $73.00.

Hedge Funds Weigh In On Edison International

Several institutional investors and hedge funds have recently modified their holdings of EIX. OLD Second National Bank of Aurora purchased a new position in shares of Edison International in the 4th quarter valued at about $25,000. Fiduciary Alliance LLC purchased a new position in shares of Edison International in the 2nd quarter valued at about $25,000. Capital Analysts LLC increased its stake in shares of Edison International by 64.0% in the 1st quarter. Capital Analysts LLC now owns 438 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 171 shares in the last quarter. Armstrong Advisory Group Inc. purchased a new position in shares of Edison International in the 2nd quarter valued at about $36,000. Finally, Ancora Advisors LLC purchased a new position in shares of Edison International in the 1st quarter valued at about $41,000. Hedge funds and other institutional investors own 88.17% of the company’s stock.

Edison International Company Profile

Edison International, through its subsidiaries, generates and distributes electric power. The company supplies electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors. It also provides decarbonization and energy solutions to commercial, institutional, and industrial customers in North America and Europe.