Edison International (NYSE:EIX) Sees Unusually-High Trading Volume – Time to Buy?

Edison International (NYSE:EIX) saw unusually-strong trading volume on Wednesday . Approximately 1,043,916 shares traded hands during 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.

Analyst Ratings Changes

Several research analysts have recently weighed in on EIX shares. Wells Fargo & Company increased their price objective on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Jefferies Financial Group started coverage on shares of Edison International in a research report on Thursday, November 7th. They set a “buy” rating and a $93.00 target price for the company. Royal Bank of Canada increased their target price on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Morgan Stanley lowered their price objective on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. Finally, Bank of America began coverage on shares of Edison International in a research report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, Edison International currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

Edison International Price Performance

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 $25.16 billion, a P/E ratio of 19.06, a PEG ratio of 1.96 and a beta of 0.93. The business has a 50 day simple moving average of $81.98 and a 200-day simple moving average of $81.73.

Edison International (NYSE:EIX) last posted its earnings results 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 company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.01 billion. During the same period last year, the business posted $1.38 earnings per share. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. Analysts predict that Edison International will post 4.94 EPS for the current fiscal year.

Edison International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 7th will be paid a dividend of $0.8275 per share. This is a boost from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date of this dividend is Tuesday, January 7th. Edison International’s payout ratio is currently 97.07%.

Insider Activity at Edison International

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Edison International

Several hedge funds and other institutional investors have recently bought and sold shares of EIX. Highline Wealth Partners LLC purchased a new position in Edison International in the 3rd quarter worth about $26,000. Groupama Asset Managment increased its stake in Edison International by 0.8% in the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 237 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Edison International in the 2nd quarter worth about $27,000. Eastern Bank purchased a new position in Edison International in the 3rd quarter worth about $27,000. Finally, Larson Financial Group LLC increased its stake in Edison International by 125.0% in the 3rd quarter. Larson Financial Group LLC now owns 351 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 195 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors.

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.