Short Interest in Edison International (NYSE:EIX) Grows By 16.6%

Edison International (NYSE:EIX) was the recipient of a significant increase in short interest in the month of April. As of April 15th, there was short interest totaling 10,942,320 shares, an increase of 16.6% from the March 31st total of 9,381,279 shares. Approximately 2.9% of the company’s shares are short sold. Based on an average daily volume of 2,805,866 shares, the days-to-cover ratio is currently 3.9 days.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on EIX shares. TD Cowen lifted their price target on shares of Edison International from $71.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Barclays reduced their price objective on shares of Edison International from $78.00 to $77.00 and set an “overweight” rating on the stock in a research note on Wednesday. Truist Financial initiated coverage on shares of Edison International in a report on Monday, April 20th. They set a “hold” rating and a $82.00 target price for the company. Mizuho set a $79.00 price target on Edison International in a research note on Thursday, February 19th. Finally, JPMorgan Chase & Co. raised their price target on Edison International from $74.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $72.82.

Edison International Trading Up 0.6%

Edison International stock traded up $0.42 during midday trading on Friday, hitting $69.91. 4,180,012 shares of the stock were exchanged, compared to its average volume of 2,589,600. The stock has a market capitalization of $26.90 billion, a PE ratio of 7.59, a P/E/G ratio of 1.20 and a beta of 0.69. The company has a fifty day simple moving average of $72.04 and a two-hundred day simple moving average of $64.16. The company has a quick ratio of 0.68, a current ratio of 0.74 and a debt-to-equity ratio of 1.98. Edison International has a 52 week low of $47.73 and a 52 week high of $76.21.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, April 28th. The utilities provider reported $1.42 EPS for the quarter, beating the consensus estimate of $1.32 by $0.10. The firm had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.15 billion. Edison International had a net margin of 19.27% and a return on equity of 14.56%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.37 earnings per share. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. Equities research analysts anticipate that Edison International will post 6.12 EPS for the current fiscal year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Tuesday, April 7th were issued a dividend of $0.8775 per share. The ex-dividend date was Tuesday, April 7th. This represents a $3.51 annualized dividend and a yield of 5.0%. Edison International’s payout ratio is currently 38.11%.

Insider Buying and Selling

In other Edison International news, Director Peter J. Taylor sold 500 shares of the business’s stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $75.30, for a total transaction of $37,650.00. Following the completion of the sale, the director directly owned 34,212 shares of the company’s stock, valued at approximately $2,576,163.60. The trade was a 1.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Edison International

A number of hedge funds have recently modified their holdings of the business. LGT Fund Management Co Ltd. bought a new position in shares of Edison International during the 1st quarter valued at about $2,594,000. Diversify Wealth Management LLC bought a new position in Edison International in the first quarter valued at approximately $699,000. SFE Investment Counsel lifted its stake in Edison International by 8.1% in the first quarter. SFE Investment Counsel now owns 14,810 shares of the utilities provider’s stock valued at $1,084,000 after buying an additional 1,110 shares in the last quarter. 180 Wealth Advisors LLC boosted its holdings in shares of Edison International by 15.5% in the first quarter. 180 Wealth Advisors LLC now owns 3,911 shares of the utilities provider’s stock valued at $286,000 after buying an additional 525 shares during the period. Finally, Citizens Financial Group Inc. RI increased its position in shares of Edison International by 158.6% during the first quarter. Citizens Financial Group Inc. RI now owns 12,551 shares of the utilities provider’s stock worth $919,000 after acquiring an additional 7,698 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Company Profile

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.