Stock Traders Purchase Large Volume of Edison International Call Options (NYSE:EIX)

by · The Cerbat Gem

Edison International (NYSE:EIX – Get Free Report) saw some unusual options trading on Wednesday. Investors purchased 9,339 call options on the company. This is an increase of approximately 49% compared to the typical daily volume of 6,264 call options.

Edison International Stock Performance

NYSE:EIX opened at $58.30 on Friday. Edison International has a 12 month low of $49.06 and a 12 month high of $88.77. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The firm has a market capitalization of $22.44 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87. The business’s fifty day moving average price is $54.92 and its 200 day moving average price is $71.87.

Edison International (NYSE:EIX – Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). The business had revenue of $17.60 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. On average, sell-side analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th will be given a dividend of $0.8275 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.31 annualized dividend and a dividend yield of 5.68%. Edison International’s dividend payout ratio is presently 100.30%.

Analyst Upgrades and Downgrades

EIX has been the topic of a number of research reports. UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $69.00 to $65.00 in a research note on Tuesday, February 18th. Morgan Stanley raised their target price on Edison International from $48.00 to $52.00 and gave the company an “underweight” rating in a report on Thursday, March 20th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $72.00 price target on shares of Edison International in a research note on Wednesday, February 12th. Mizuho lowered their price objective on shares of Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Finally, Barclays dropped their price objective on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $76.82.

Check Out Our Latest Analysis on Edison International

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Crews Bank & Trust acquired a new position in Edison International in the fourth quarter valued at $25,000. Sierra Ocean LLC purchased a new stake in shares of Edison International in the 4th quarter valued at about $33,000. Raleigh Capital Management Inc. boosted its position in shares of Edison International by 285.3% in the 4th quarter. Raleigh Capital Management Inc. now owns 420 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 311 shares during the period. Bellwether Advisors LLC purchased a new position in Edison International during the 4th quarter worth approximately $34,000. Finally, ST Germain D J Co. Inc. increased its position in Edison International by 88.1% during the fourth quarter. ST Germain D J Co. Inc. now owns 427 shares of the utilities provider’s stock worth $34,000 after buying an additional 200 shares during the period. 88.95% of the stock is owned by hedge funds and other institutional investors.

About Edison International

(Get Free Report)

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.

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