Edison International Target of Unusually High Options Trading (NYSE:EIX)

Edison International (NYSE:EIX) saw some unusual options trading activity on Wednesday. Traders acquired 32,509 call options on the company. This represents an increase of 611% compared to the typical daily volume of 4,573 call options.

Edison International Stock Performance

Edison International stock opened at $52.40 on Thursday. Edison International has a 1-year low of $51.58 and a 1-year high of $88.77. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $20.29 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 1.11 and a beta of 0.90. The firm’s 50 day simple moving average is $72.73 and its 200 day simple moving average is $80.00.

Edison International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, January 7th were given a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a yield of 6.32%. This is a boost from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date was Tuesday, January 7th. Edison International’s payout ratio is presently 97.07%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. UBS Group lowered their price objective on shares of Edison International from $87.00 to $69.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Barclays dropped their price target on Edison International from $76.00 to $67.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Wells Fargo & Company boosted 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. Jefferies Financial Group started coverage on Edison International in a research report on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price for the company. Finally, Morgan Stanley lowered their price objective 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 equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $82.88.

Institutional Trading of Edison International

A number of large investors have recently modified their holdings of the business. FMR LLC raised its position in shares of Edison International by 8.7% during the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock valued at $1,898,638,000 after buying an additional 1,741,835 shares in the last quarter. abrdn plc boosted its stake in shares of Edison International by 166.4% during the third quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock valued at $123,149,000 after purchasing an additional 885,955 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in Edison International by 117.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 781,736 shares of the utilities provider’s stock worth $68,081,000 after acquiring an additional 422,752 shares during the last quarter. AustralianSuper Pty Ltd purchased a new stake in Edison International in the 4th quarter worth approximately $31,877,000. Finally, Miller Howard Investments Inc. NY grew its position in shares of Edison International by 565.5% in the 4th quarter. Miller Howard Investments Inc. NY now owns 343,190 shares of the utilities provider’s stock worth $27,400,000 after buying an additional 291,619 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

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.