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

Edison International (NYSE:EIX) was the recipient of unusually large options trading on Wednesday. Stock investors purchased 32,509 call options on the stock. This is an increase of 611% compared to the average volume of 4,573 call options.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. FMR LLC boosted its stake 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 during the period. abrdn plc grew its position in Edison International by 166.4% in the third quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock valued at $123,149,000 after acquiring an additional 885,955 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in shares of Edison International by 117.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 781,736 shares of the utilities provider’s stock valued at $68,081,000 after acquiring an additional 422,752 shares during the last quarter. AustralianSuper Pty Ltd acquired a new position in shares of Edison International during the fourth quarter worth approximately $31,877,000. Finally, Miller Howard Investments Inc. NY boosted its stake 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 valued at $27,400,000 after purchasing an additional 291,619 shares during the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EIX has been the subject of several recent research reports. Guggenheim lowered Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. 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 objective on the stock. Morgan Stanley cut their price objective on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Wells Fargo & Company raised their price target on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, UBS Group lowered their price target on Edison International from $87.00 to $69.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.88.

Edison International Stock Up 0.3 %

Shares of NYSE EIX traded up $0.15 on Wednesday, hitting $51.87. The company had a trading volume of 1,006,134 shares, compared to its average volume of 6,935,552. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. Edison International has a 12-month low of $51.58 and a 12-month high of $88.77. The business has a 50 day moving average of $72.73 and a two-hundred day moving average of $80.00. The firm has a market capitalization of $20.08 billion, a P/E ratio of 15.21, a PEG ratio of 1.11 and a beta of 0.90.

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 $0.8275 dividend. This is a boost from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 annualized dividend and a yield of 6.38%. The ex-dividend date of this dividend was Tuesday, January 7th. Edison International’s dividend payout ratio (DPR) is currently 97.07%.

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.