Short Interest in Edison International (NYSE:EIX) Declines By 8.2%

Edison International (NYSE:EIX) was the target of a significant decline in short interest in April. As of April 15th, there was short interest totalling 6,120,000 shares, a decline of 8.2% from the March 31st total of 6,670,000 shares. Based on an average daily volume of 2,240,000 shares, the short-interest ratio is presently 2.7 days.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Able Wealth Management LLC acquired a new position in shares of Edison International during the fourth quarter valued at $25,000. Bruce G. Allen Investments LLC bought a new stake in Edison International in the 4th quarter valued at about $27,000. Global Trust Asset Management LLC acquired a new position in Edison International during the 1st quarter valued at about $28,000. WASHINGTON TRUST Co grew its position in Edison International by 117.4% in the 4th quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 270 shares during the last quarter. Finally, Northwest Financial Advisors acquired a new stake in shares of Edison International in the fourth quarter valued at approximately $40,000. 88.95% of the stock is currently owned by institutional investors.

Edison International Stock Performance

Shares of Edison International stock traded up $1.19 during trading hours on Monday, reaching $71.33. The company’s stock had a trading volume of 2,448,487 shares, compared to its average volume of 2,188,241. Edison International has a one year low of $58.82 and a one year high of $74.92. The company’s 50 day simple moving average is $69.08 and its 200 day simple moving average is $67.80. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.73 and a current ratio of 0.79. The stock has a market cap of $27.44 billion, a P/E ratio of 22.86 and a beta of 0.96.

Edison International (NYSE:EIX) last released its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.12. Edison International had a net margin of 8.35% and a return on equity of 12.63%. The firm had revenue of $3.71 billion for the quarter, compared to analyst estimates of $4.19 billion. During the same quarter in the prior year, the business earned $1.14 earnings per share. As a group, analysts expect that Edison International will post 4.92 EPS for the current fiscal year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be given a dividend of $0.78 per share. The ex-dividend date is Wednesday, March 27th. This represents a $3.12 dividend on an annualized basis and a yield of 4.37%. Edison International’s dividend payout ratio is currently 100.00%.

Analyst Ratings Changes

A number of research firms recently weighed in on EIX. Royal Bank of Canada lowered their price target on shares of Edison International from $81.00 to $80.00 and set an “outperform” rating for the company in a report on Thursday, March 7th. Guggenheim upgraded Edison International from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $66.00 to $84.00 in a report on Monday, January 22nd. The Goldman Sachs Group assumed coverage on Edison International in a research note on Wednesday, April 10th. They set a “neutral” rating and a $78.00 target price for the company. TheStreet cut shares of Edison International from a “b” rating to a “c+” rating in a report on Thursday, February 22nd. Finally, Barclays raised their price objective on shares of Edison International from $69.00 to $70.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $73.60.

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.