Edison International (NYSE:EIX) Short Interest Up 5.6% in July
Edison International (NYSE:EIX) was the recipient of a significant increase in short interest in July. As of July 31st, there was short interest totalling 7,658,600 shares, an increase of 5.6% from the June 30th total of 7,254,400 shares. Approximately 2.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,780,000 shares, the short-interest ratio is presently 2.8 days.
Shares of NYSE EIX traded up $0.25 during mid-day trading on Thursday, reaching $72.07. 2,419,042 shares of the company were exchanged, compared to its average volume of 2,668,452. The company has a current ratio of 0.69, a quick ratio of 0.64 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $25.86 billion, a PE ratio of 17.37, a price-to-earnings-growth ratio of 2.86 and a beta of 0.13. Edison International has a 1 year low of $45.50 and a 1 year high of $75.39. The business has a 50-day simple moving average of $70.45.
Edison International (NYSE:EIX) last issued its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.43. Edison International had a negative net margin of 1.21% and a positive return on equity of 12.15%. The company had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the prior year, the firm earned $0.85 earnings per share. Analysts anticipate that Edison International will post 4.68 earnings per share for the current year.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of Edison International from a “sell” rating to a “hold” rating and set a $63.00 price target on the stock in a report on Friday, May 31st. Wells Fargo & Co set a $73.00 price objective on shares of Edison International and gave the company a “hold” rating in a research note on Friday, July 26th. UBS Group upgraded shares of Edison International from a “neutral” rating to a “buy” rating and raised their price objective for the company from $67.00 to $72.00 in a research note on Tuesday, June 4th. TheStreet upgraded shares of Edison International from a “c+” rating to a “b-” rating in a research note on Friday, July 26th. Finally, SunTrust Banks lifted their price target on shares of Edison International from $80.00 to $81.00 and gave the stock a “buy” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $70.82.
A number of hedge funds have recently made changes to their positions in EIX. Mercer Global Advisors Inc. ADV bought a new position in Edison International during the first quarter worth about $276,000. OppenheimerFunds Inc. boosted its stake in shares of Edison International by 24.6% in the 1st quarter. OppenheimerFunds Inc. now owns 1,003,826 shares of the utilities provider’s stock valued at $62,157,000 after purchasing an additional 198,252 shares in the last quarter. Neuburgh Advisers LLC boosted its stake in shares of Edison International by 105.4% in the 1st quarter. Neuburgh Advisers LLC now owns 51,502 shares of the utilities provider’s stock valued at $3,189,000 after purchasing an additional 26,422 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its stake in shares of Edison International by 0.8% in the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 49,509 shares of the utilities provider’s stock valued at $3,066,000 after purchasing an additional 407 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Edison International by 10.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 92,247 shares of the utilities provider’s stock valued at $6,218,000 after purchasing an additional 8,350 shares in the last quarter. Hedge funds and other institutional investors own 75.46% of the company’s stock.
Edison International Company Profile
Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.
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