Edison International Sees Unusually High Options Volume (NYSE:EIX)
by Doug Wharley · The Cerbat GemEdison International (NYSE:EIX – Get Free Report) was the target of unusually large options trading on Tuesday. Stock traders bought 94,754 call options on the company. This represents an increase of 3,116% compared to the typical volume of 2,946 call options.
Insider Activity at Edison International
In related news, Director Peter J. Taylor sold 1,800 shares of the stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $55.27, for a total value of $99,486.00. Following the transaction, the director directly owned 35,212 shares of the company’s stock, valued at approximately $1,946,167.24. This trade represents a 4.86% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Edison International
Several institutional investors and hedge funds have recently added to or reduced their stakes in EIX. Alliancebernstein L.P. grew its stake in shares of Edison International by 40.5% in the 1st quarter. Alliancebernstein L.P. now owns 601,131 shares of the utilities provider’s stock valued at $35,419,000 after buying an additional 173,374 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Edison International by 27.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,482 shares of the utilities provider’s stock worth $4,791,000 after purchasing an additional 17,675 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Edison International by 22.0% during the 1st quarter. NewEdge Advisors LLC now owns 75,413 shares of the utilities provider’s stock valued at $4,443,000 after purchasing an additional 13,593 shares in the last quarter. Nissay Asset Management Corp Japan ADV raised its holdings in shares of Edison International by 1.7% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 47,625 shares of the utilities provider’s stock valued at $2,806,000 after purchasing an additional 775 shares in the last quarter. Finally, UniSuper Management Pty Ltd lifted its stake in shares of Edison International by 22.4% in the 1st quarter. UniSuper Management Pty Ltd now owns 45,572 shares of the utilities provider’s stock valued at $2,685,000 after purchasing an additional 8,330 shares during the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
EIX has been the subject of a number of research reports. Jefferies Financial Group boosted their target price on Edison International from $57.00 to $59.00 and gave the stock a “hold” rating in a report on Wednesday, October 22nd. Morgan Stanley set a $57.00 target price on shares of Edison International in a research note on Wednesday, December 17th. TD Cowen started coverage on shares of Edison International in a research report on Thursday, October 16th. They set a “buy” rating and a $71.00 price target for the company. UBS Group boosted their price objective on Edison International from $66.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, December 2nd. Finally, Wells Fargo & Company raised Edison International to a “hold” rating in a research report on Tuesday, October 28th. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $63.50.
Check Out Our Latest Research Report on EIX
Edison International Stock Performance
Shares of NYSE EIX traded down $0.15 during midday trading on Tuesday, hitting $60.47. 4,490,727 shares of the company’s stock were exchanged, compared to its average volume of 3,816,970. Edison International has a twelve month low of $47.73 and a twelve month high of $78.36. The firm has a market cap of $23.27 billion, a P/E ratio of 7.90, a PEG ratio of 0.89 and a beta of 0.83. The stock’s 50 day moving average price is $58.29 and its 200-day moving average price is $55.57. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.82 and a quick ratio of 0.76.
Edison International (NYSE:EIX – Get Free Report) last posted its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $2.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.18. The business had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.31 billion. Edison International had a net margin of 17.24% and a return on equity of 13.62%. The business’s revenue was up 10.6% on a year-over-year basis. During the same period last year, the firm posted $1.51 earnings per share. Edison International has set its FY 2025 guidance at 5.950-6.200 EPS. Equities research analysts anticipate that Edison International will post 4.95 EPS for the current year.
Edison International Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, January 31st. Shareholders of record on Wednesday, January 7th will be paid a dividend of $0.8775 per share. This is a boost from Edison International’s previous quarterly dividend of $0.83. This represents a $3.51 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend is Wednesday, January 7th. Edison International’s payout ratio is currently 43.27%.
About Edison International
Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.
The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.