Edison International Sees Unusually Large Options Volume (NYSE:EIX)

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Edison International (NYSE:EIX) was the recipient of some unusual options trading on Wednesday. Stock investors purchased 8,328 put options on the stock. This represents an increase of approximately 3,668% compared to the typical daily volume of 221 put options.

Shares of Edison International stock traded up $0.12 during trading on Thursday, hitting $71.65. 41,062 shares of the company were exchanged, compared to its average volume of 2,493,011. The company has a quick ratio of 0.72, a current ratio of 0.78 and a debt-to-equity ratio of 1.11. Edison International has a fifty-two week low of $53.40 and a fifty-two week high of $76.45. The stock has a market capitalization of $25.46 billion, a price-to-earnings ratio of 17.24, a P/E/G ratio of 2.84 and a beta of 0.08. The firm has a 50 day moving average price of $68.70 and a 200 day moving average price of $69.29.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.53 by ($0.03). Edison International had a positive return on equity of 11.98% and a negative net margin of 1.60%. The company had revenue of $3.74 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same quarter in the prior year, the firm earned $1.57 earnings per share. Analysts predict that Edison International will post 4.74 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Janney Montgomery Scott LLC boosted its position in Edison International by 1.6% in the 2nd quarter. Janney Montgomery Scott LLC now owns 10,137 shares of the utilities provider’s stock valued at $683,000 after buying an additional 160 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in Edison International by 2,765.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 158,055 shares of the utilities provider’s stock valued at $10,654,000 after buying an additional 152,539 shares during the last quarter. AGF Investments LLC purchased a new position in Edison International in the 2nd quarter valued at about $74,000. Cutter & CO Brokerage Inc. purchased a new position in Edison International in the 2nd quarter valued at about $1,437,000. Finally, Janus Henderson Group PLC boosted its position in Edison International by 10.9% in the 2nd quarter. Janus Henderson Group PLC now owns 889,691 shares of the utilities provider’s stock valued at $59,973,000 after buying an additional 87,731 shares during the last quarter. Institutional investors own 87.37% of the company’s stock.

Several brokerages recently issued reports on EIX. Mizuho dropped their price target on Edison International from $86.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Bank of America set a $73.00 price objective on Edison International and gave the company a “hold” rating in a report on Friday, November 1st. Royal Bank of Canada lifted their price objective on Edison International to $79.00 and gave the company an “outperform” rating in a report on Monday, September 30th. They noted that the move was a valuation call. UBS Group lifted their price objective on Edison International from $77.00 to $81.00 and gave the company a “buy” rating in a report on Friday, September 20th. Finally, Morgan Stanley boosted their price target on Edison International from $70.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Friday, August 16th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. Edison International has a consensus rating of “Hold” and a consensus target price of $75.00.

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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