Edison International Sees Unusually High Options Volume (NYSE:EIX)

Edison International (NYSE:EIX) was the target of unusually large options trading on Friday. Investors purchased 15,577 call options on the stock. This represents an increase of approximately 326% compared to the average daily volume of 3,659 call options.

Institutional Investors Weigh In On Edison International

A number of institutional investors and hedge funds have recently modified their holdings of EIX. Charles Schwab Investment Management Inc. lifted its stake in Edison International by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,416,770 shares of the utilities provider’s stock worth $192,955,000 after purchasing an additional 76,654 shares in the last quarter. Tounjian Advisory Partners LLC bought a new position in shares of Edison International in the first quarter worth $1,151,000. GAMMA Investing LLC increased its holdings in shares of Edison International by 4,157.4% in the first quarter. GAMMA Investing LLC now owns 145,179 shares of the utilities provider’s stock worth $8,554,000 after purchasing an additional 141,769 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of Edison International in the fourth quarter worth $6,859,000. Finally, RWC Asset Management LLP boosted its stake in Edison International by 207.1% during the fourth quarter. RWC Asset Management LLP now owns 398,812 shares of the utilities provider’s stock valued at $31,841,000 after buying an additional 268,951 shares during the period. 88.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on EIX. Wolfe Research downgraded shares of Edison International from an “outperform” rating to a “peer perform” rating in a report on Monday, June 9th. Morgan Stanley set a $52.00 price objective on shares of Edison International and gave the stock an “underweight” rating in a research report on Thursday, May 22nd. UBS Group upgraded shares of Edison International from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $69.00 to $65.00 in a research note on Tuesday, February 18th. Wells Fargo & Company cut their target price on Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Finally, Mizuho reduced their target price on Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $76.89.

Edison International Price Performance

EIX opened at $48.27 on Friday. The firm has a 50-day moving average price of $55.60 and a 200-day moving average price of $61.26. Edison International has a twelve month low of $47.86 and a twelve month high of $88.77. 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 company has a market capitalization of $18.57 billion, a price-to-earnings ratio of 14.15, a PEG ratio of 1.07 and a beta of 0.78.

Edison International (NYSE:EIX) last posted its earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.16. The firm had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $4.29 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business’s quarterly revenue was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.13 earnings per share. Equities analysts expect that Edison International will post 4.95 EPS for the current year.

About Edison International

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.