Stock Traders Buy High Volume of Edison International (NYSE:EIX) Put Options

VaselineAugust 28, 2024

0 4 minutes read

Edison International (NYSE:EIX – Get Free Report ) was the recipient of unusually heavy options trading on Tuesday. Traders purchased 3,008 put options on the stock. This is an increase of approximately 388% compared to the typical daily volume of 616 put options.

Edison International Trading falls 0.7%

Shares of Edison International stock opened at $84.79 on Wednesday. The firm has a 50-day moving average of $77.08 and a 200-day moving average of $73.01. Edison International has a one year low of $58.82 and a one year high of $85.96. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.03, and a quick ratio of 0.96. The company has a market cap of $32.62 billion, a price-to-earnings ratio of 37.19 and a beta of 0.91.

Edison International (NYSE:EIX – Get Free Report ) last issued its earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.18. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The business had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same period last year, the business posted EPS of $1.01. Edison International’s revenue rose 9.4% year over year. On average, equities analysts expect that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International announces dividend

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The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 8th were paid a $0.78 dividend. The ex-dividend date of this dividend was Monday, July 8th. This represents an annualized dividend of $3.12 and a yield of 3.68%. Edison International’s dividend payout ratio (DPR) is currently 136.84%.

Insiders place their bets

In other Edison International news, VP Natalie K. Schilling sold 2,341 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the transaction, the vice president now owns 6,338 shares of the company’s stock, valued at approximately $507,040. The transaction was disclosed in a filing with the SEC, which can be accessed via this link. In other Edison International news, SVP Caroline Choi sold 10,004 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $75.77, for a total transaction of $758,003.08. Following the completion of the sale, the senior vice president now owns 26,918 shares in the company, valued at approximately $2,039,576.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this hyperlink. Also, VP Natalie K. Schilling sold 2,341 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the sale, the vice president now owns 6,338 shares of the company’s stock, valued at approximately $507,040. The disclosure for this sale can be found here. In the last quarter, insiders sold 99,103 shares of company stock valued at $7,981,345. 1.03% of shares are currently held by corporate insiders.

Institutional investors weigh in on Edison International

Several hedge funds have recently bought and sold shares of the company. Equitable Trust Co. raised its stake in Edison International by 0.9% in the second quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider’s stock valued at $1,108,000 after purchasing an additional 132 shares in the last quarter. TIAA Trust National Association increased its position in Edison International by 2.0% in the second quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock worth $483,000 after acquiring an additional 134 shares in the last quarter. Farmers & Merchants Investments Inc. increased its position in Edison International by 53.8% during the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 140 shares in the last quarter. Asset Dedication LLC boosted its position in Edison International by 37.5% in the second quarter. Asset Dedication LLC now owns 550 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 150 shares in the last quarter. Finally, Carson Advisory Inc. lifted its position in Edison International by 0.3% in the first quarter. Carson Advisory Inc. now owns 54,625 shares of the utilities provider’s stock worth $3,864,000 after purchasing an additional 152 shares during the last quarter. 88.95% of shares are currently held by institutional investors and hedge funds.

Changes in Analyst Ratings

A number of analysts recently commented on the action. Argus boosted their price objective on shares of Edison International from $78.00 to $82.00 and gave the company a “buy” rating in a research report on Wednesday, June 12th. Morgan Stanley boosted their price target on Edison International from $62.00 to $68.00 and gave the stock an “underweight” rating in a report on Friday, August 23rd. Guggenheim upped their target price on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Wells Fargo & Company upped their target price on Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, Barclays upped their target price on Edison International from $75.00 to $80.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $80.73, according to MarketBeat.com.

Check out our latest analysis of EIX

About Edison International

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Edison International, through its subsidiaries, engages in the generation and distribution of electricity. The company supplies and supplies electricity to an area of approximately 50,000 square miles in Southern California to residential, commercial, industrial, government, agricultural and other sectors.