Stock Traders Purchase Large Volume of Edison International Put Options (EIX)
Edison International (NYSE:EIX) saw some unusual options trading on Tuesday. Traders bought 2,585 put options on the stock. This represents an increase of approximately 4,281% compared to the typical volume of 59 put options.
In other Edison International news, insider Ronald L. Litzinger sold 224,718 shares of Edison International stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $82.00, for a total value of $18,426,876.00. Following the completion of the sale, the insider now owns 14,121 shares in the company, valued at approximately $1,157,922. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.41% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Amica Retiree Medical Trust acquired a new position in Edison International during the 3rd quarter worth approximately $138,000. Sun Life Financial INC lifted its position in Edison International by 16,935.7% during the 2nd quarter. Sun Life Financial INC now owns 2,385 shares of the utilities provider’s stock worth $186,000 after acquiring an additional 2,371 shares in the last quarter. TCI Wealth Advisors Inc. lifted its position in Edison International by 139.7% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 2,630 shares of the utilities provider’s stock worth $203,000 after acquiring an additional 1,533 shares in the last quarter. OxFORD Asset Management LLP acquired a new position in Edison International during the 2nd quarter worth approximately $204,000. Finally, Shelton Capital Management acquired a new position in Edison International during the 2nd quarter worth approximately $206,000. 81.36% of the stock is currently owned by institutional investors and hedge funds.
Edison International (NYSE:EIX) last released its quarterly earnings data on Monday, October 30th. The utilities provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.10. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.53 billion. Edison International had a return on equity of 10.84% and a net margin of 13.18%. The company’s revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.29 EPS. sell-side analysts anticipate that Edison International will post 4.33 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders 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 dividend yield of 3.37%. Edison International’s payout ratio is currently 48.98%.
Several analysts have commented on the company. SunTrust Banks restated a “buy” rating and issued a $85.00 price target on shares of Edison International in a report on Thursday. BidaskClub upgraded Edison International from a “sell” rating to a “hold” rating in a report on Tuesday, August 22nd. Citigroup lifted their price target on Edison International from $84.00 to $87.00 and gave the company a “neutral” rating in a report on Tuesday, October 17th. Royal Bank Of Canada restated a “buy” rating and issued a $84.00 price target on shares of Edison International in a report on Sunday, September 17th. Finally, Deutsche Bank reduced their price objective on Edison International to $78.00 and set a “hold” rating on the stock in a research note on Wednesday. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Edison International has a consensus rating of “Hold” and an average price target of $84.54.
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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