Edison International (NYSE:EIX) Sees Strong Trading Volume – Should You Buy?

Edison International (NYSE:EIX) saw strong trading volume on Wednesday . 1,043,916 shares changed hands during mid-day trading, a decline of 40% from the previous session’s volume of 1,749,316 shares.The stock last traded at $73.98 and had previously closed at $77.38.

Wall Street Analysts Forecast Growth

EIX has been the topic of several analyst reports. Argus lifted their price target on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Barclays raised Edison International from an “equal weight” rating to an “overweight” rating and dropped their target price for the stock from $91.00 to $84.00 in a research report on Thursday, January 2nd. UBS Group cut their price target on Edison International from $96.00 to $87.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. 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. Finally, Jefferies Financial Group assumed coverage on Edison International in a research report on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $88.00.

Edison International Trading Down 10.8 %

The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The firm’s 50 day moving average is $82.52 and its two-hundred day moving average is $81.91. The stock has a market cap of $26.73 billion, a price-to-earnings ratio of 20.25, a price-to-earnings-growth ratio of 1.96 and a beta of 0.93.

Edison International (NYSE:EIX) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $5.01 billion. During the same quarter in the previous year, the firm posted $1.38 EPS. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. Equities analysts anticipate that Edison International will post 4.94 EPS for the current year.

Edison International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 7th will be issued a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date of this dividend is Tuesday, January 7th. This is a boost from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio (DPR) is 97.07%.

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 on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Edison International

Institutional investors and hedge funds have recently bought and sold shares of the stock. Highline Wealth Partners LLC bought a new stake in Edison International during the third quarter worth approximately $26,000. Groupama Asset Managment boosted its stake in shares of Edison International by 0.8% during the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 237 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of Edison International during the 2nd quarter worth $27,000. Eastern Bank acquired a new position in shares of Edison International in the 3rd quarter worth $27,000. Finally, Larson Financial Group LLC raised its position in shares of Edison International by 125.0% during the third quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 195 shares during the period. 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.