Investors Purchase Large Volume of Edison International Put Options (NYSE:EIX)

Edison International (NYSE:EIX) was the recipient of unusually large options trading on Tuesday. Stock traders bought 2,597 put options on the stock. This represents an increase of approximately 192% compared to the average volume of 888 put options.

Edison International Price Performance

EIX stock opened at $82.80 on Wednesday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The firm has a 50 day moving average price of $84.67 and a 200-day moving average price of $80.99. Edison International has a 52-week low of $63.15 and a 52-week high of $88.77. The firm has a market capitalization of $32.05 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 2.01 and a beta of 0.92.

Edison International (NYSE:EIX) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. During the same period in the previous year, the company posted $1.38 earnings per share. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. Equities research analysts forecast that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were issued a $0.78 dividend. The ex-dividend date was Monday, October 7th. This represents a $3.12 annualized dividend and a yield of 3.77%. Edison International’s dividend payout ratio (DPR) is presently 91.50%.

Insider Activity

In related news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Edison International

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

Analysts Set New Price Targets

A number of brokerages have issued reports on EIX. Bank of America began coverage on shares of Edison International in a report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price target on the stock. Jefferies Financial Group initiated coverage on Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 price target on the stock. Wells Fargo & Company lifted their price objective on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Barclays upped their target price on Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley dropped their price target on Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Edison International has a consensus rating of “Moderate Buy” and a consensus price target of $88.75.

About Edison International

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.