Edison International Target of Unusually Large Options Trading (EIX)

Edison International (NYSE:EIX) was the target of unusually large options trading activity on Tuesday. Stock investors purchased 3,735 call options on the stock. This is an increase of approximately 2,864% compared to the typical daily volume of 126 call options.

In other news, insider Ronald L. Litzinger sold 224,718 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $82.00, for a total transaction of $18,426,876.00. Following the sale, the insider now owns 14,121 shares of the company’s stock, valued at $1,157,922. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.41% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in EIX. Amica Retiree Medical Trust purchased a new position in Edison International in the third quarter valued at approximately $138,000. Sun Life Financial INC increased its stake in Edison International by 16,935.7% in the second quarter. Sun Life Financial INC now owns 2,385 shares of the utilities provider’s stock valued at $186,000 after purchasing an additional 2,371 shares during the last quarter. TCI Wealth Advisors Inc. increased its stake in Edison International by 139.7% in the third quarter. TCI Wealth Advisors Inc. now owns 2,630 shares of the utilities provider’s stock valued at $203,000 after purchasing an additional 1,533 shares during the last quarter. OxFORD Asset Management LLP purchased a new position in Edison International in the second quarter valued at approximately $204,000. Finally, Shelton Capital Management acquired a new stake in shares of Edison International in the second quarter valued at approximately $206,000. Institutional investors own 81.36% of the company’s stock.

A number of research firms recently weighed in on EIX. ValuEngine upgraded shares of Edison International from a “hold” rating to a “buy” rating in a research note on Wednesday, November 15th. Royal Bank Of Canada restated a “buy” rating and set a $84.00 target price on shares of Edison International in a research note on Sunday, September 17th. Morgan Stanley upped their target price on shares of Edison International from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Friday, September 8th. Mizuho restated a “buy” rating and set a $87.00 target price (up from $84.00) on shares of Edison International in a research note on Wednesday, August 23rd. Finally, Bank of America restated a “buy” rating and set a $86.00 target price on shares of Edison International in a research note on Tuesday, October 24th. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $84.54.

Edison International (NYSE:EIX) opened at $71.77 on Friday. The company has a market cap of $22,806.78, a P/E ratio of 15.94, a price-to-earnings-growth ratio of 2.54 and a beta of 0.23. Edison International has a one year low of $67.80 and a one year high of $83.38. The company has a quick ratio of 0.47, a current ratio of 0.51 and a debt-to-equity ratio of 0.80.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Monday, October 30th. The utilities provider reported $1.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.10. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.53 billion. Edison International had a net margin of 13.18% and a return on equity of 10.84%. The firm’s revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.29 earnings per share. equities research analysts anticipate that Edison International will post 4.33 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th will be paid a $0.605 dividend. This is a positive change from Edison International’s previous quarterly dividend of $0.54. This represents a $2.42 annualized dividend and a yield of 3.37%. Edison International’s dividend payout ratio is currently 48.98%.

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About Edison International

Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.

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