Traders Buy Large Volume of Call Options on Edison International (NYSE:EIX)

Edison International (NYSE:EIX - Get Free Report) saw some unusual options trading activity on Tuesday. Stock investors purchased 5,438 call options on the stock. This is an increase of 84% compared to the typical daily volume of 2,956 call options.

Analyst Ratings Changes

A number of brokerages have issued reports on EIX. Evercore ISI restated an "outperform" rating on shares of Edison International in a research note on Thursday, May 15th. Barclays lifted their price objective on shares of Edison International from $64.00 to $67.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. The Goldman Sachs Group decreased their target price on Edison International from $88.00 to $68.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Wolfe Research downgraded Edison International from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. Finally, JPMorgan Chase & Co. lowered their target price on Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a report on Monday, May 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Edison International presently has a consensus rating of "Moderate Buy" and an average target price of $76.82.

Institutional Investors Weigh In On Edison International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EIX. Norges Bank acquired a new position in shares of Edison International in the fourth quarter valued at approximately $323,443,000. AQR Capital Management LLC increased its position in Edison International by 190.5% during the first quarter. AQR Capital Management LLC now owns 5,428,038 shares of the utilities provider's stock worth $319,169,000 after buying an additional 3,559,602 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Edison International by 111.6% during the first quarter. JPMorgan Chase & Co. now owns 5,663,427 shares of the utilities provider's stock worth $333,689,000 after purchasing an additional 2,987,318 shares during the period. ATLAS Infrastructure Partners UK Ltd. boosted its holdings in shares of Edison International by 197.2% during the 1st quarter. ATLAS Infrastructure Partners UK Ltd. now owns 4,395,732 shares of the utilities provider's stock worth $258,997,000 after buying an additional 2,916,645 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in shares of Edison International by 364.1% during the fourth quarter. Canada Pension Plan Investment Board now owns 3,369,535 shares of the utilities provider's stock worth $269,024,000 after purchasing an additional 2,643,571 shares during the period. Institutional investors own 88.95% of the company's stock.

Edison International Trading Up 2.4%

EIX traded up $1.23 during trading on Tuesday, reaching $52.83. The company had a trading volume of 5,555,305 shares, compared to its average volume of 3,301,336. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.89 and a current ratio of 0.96. The company has a market cap of $20.33 billion, a price-to-earnings ratio of 10.02, a PEG ratio of 1.21 and a beta of 0.75. Edison International has a 12-month low of $47.73 and a 12-month high of $88.77. The firm's 50-day simple moving average is $54.33 and its 200 day simple moving average is $58.30.

Edison International (NYSE:EIX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.21 by $0.16. The business 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 13.21% and a net margin of 16.84%. The firm's revenue was down 6.5% compared to the same quarter last year. During the same period last year, the business earned $1.13 EPS. Equities research analysts anticipate that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, July 7th will be given a $0.8275 dividend. The ex-dividend date is Monday, July 7th. This represents a $3.31 dividend on an annualized basis and a yield of 6.27%. Edison International's payout ratio is 46.95%.

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.