Traders Buy Large Volume of Put Options on Edison International (NYSE:EIX)

Edison International (NYSE:EIX) saw some unusual options trading on Wednesday. Traders acquired 8,183 put options on the company. This is an increase of approximately 837% compared to the typical daily volume of 873 put options.

Insider Buying and Selling at Edison International

In other news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Highline Wealth Partners LLC purchased a new stake in Edison International during the 3rd quarter valued at about $26,000. Groupama Asset Managment grew its stake in Edison International by 0.8% during the 3rd 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 during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Edison International in the 2nd quarter valued at about $27,000. Eastern Bank acquired a new position in shares of Edison International in the 3rd quarter valued at about $27,000. Finally, Larson Financial Group LLC lifted its holdings in shares of Edison International by 125.0% in the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock valued at $31,000 after buying an additional 195 shares during the period. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Trading Down 10.3 %

Shares of NYSE:EIX opened at $69.41 on Thursday. Edison International has a 12-month low of $63.15 and a 12-month high of $88.77. The business’s fifty day simple moving average is $82.24 and its 200-day simple moving average is $81.82. The company has a market capitalization of $26.87 billion, a PE ratio of 20.35, a P/E/G ratio of 1.96 and a beta of 0.93. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share 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 firm 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 business earned $1.38 EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, equities research analysts predict that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 7th will be paid a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a yield of 4.77%. This is an increase from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Tuesday, January 7th. Edison International’s payout ratio is 97.07%.

Analyst Upgrades and Downgrades

EIX has been the subject of several research analyst reports. Jefferies Financial Group started coverage on Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 price target for the company. Argus raised their price target on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Bank of America initiated coverage on Edison International in a research note on Thursday, September 12th. They set a “buy” rating and a $95.00 price target for the company. UBS Group decreased their price target on Edison International from $96.00 to $87.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Finally, Wells Fargo & Company raised their price target on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, Edison International has a consensus rating of “Moderate Buy” and an average price target of $88.00.

Edison International Company Profile

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.