Voya Investment Management LLC Raises Stock Holdings in Edison International $EIX

Key Points

• Voya Investment Management LLC has increased its stake in Edison International by 9.8%, owning 351,524 shares worth approximately $20.7 million as of the end of the first quarter.
• Edison International reported $0.97 EPS for its most recent quarter, surpassing analysts' expectations by $0.09, along with a 4.8% year-over-year revenue growth.
• The company declared a quarterly dividend of $0.8275, yielding about 5.9%, with a dividend payout ratio of 48.60%.

Voya Investment Management LLC grew its stake in Edison International (NYSE:EIX - Free Report) by 9.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 351,524 shares of the utilities provider's stock after acquiring an additional 31,488 shares during the quarter. Voya Investment Management LLC owned 0.09% of Edison International worth $20,712,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Rakuten Securities Inc. boosted its holdings in Edison International by 4,633.3% in the first quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider's stock worth $25,000 after acquiring an additional 417 shares in the last quarter. Barnes Dennig Private Wealth Management LLC bought a new stake in Edison International in the first quarter worth $25,000. Investment Management Corp VA ADV boosted its holdings in Edison International by 159.6% in the first quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider's stock worth $25,000 after acquiring an additional 265 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in Edison International in the first quarter worth $35,000. Finally, Versant Capital Management Inc boosted its holdings in Edison International by 96.7% in the first quarter. Versant Capital Management Inc now owns 881 shares of the utilities provider's stock worth $52,000 after acquiring an additional 433 shares in the last quarter. 88.95% of the stock is owned by institutional investors.

Edison International Stock Performance

Shares of EIX opened at $56.27 on Monday. The company has a quick ratio of 0.81, a current ratio of 0.87 and a debt-to-equity ratio of 2.03. The business has a 50-day simple moving average of $53.79 and a two-hundred day simple moving average of $54.72. The stock has a market cap of $21.65 billion, a price-to-earnings ratio of 8.26, a PEG ratio of 1.32 and a beta of 0.80. Edison International has a 52 week low of $47.73 and a 52 week high of $88.64.

Edison International (NYSE:EIX - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.09. The business had revenue of $4.54 billion during the quarter, compared to analysts' expectations of $4.52 billion. Edison International had a return on equity of 11.99% and a net margin of 16.00%.The business's quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.23 earnings per share. Edison International has set its FY 2025 guidance at 5.940-6.340 EPS. On average, analysts expect that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, July 7th were given a $0.8275 dividend. The ex-dividend date was Monday, July 7th. This represents a $3.31 dividend on an annualized basis and a yield of 5.9%. Edison International's dividend payout ratio is presently 48.60%.

Analyst Upgrades and Downgrades

Several research firms have commented on EIX. Barclays boosted their target price on Edison International from $64.00 to $65.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Wolfe Research downgraded Edison International from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. UBS Group lowered their price target on Edison International from $68.00 to $66.00 and set a "buy" rating on the stock in a report on Thursday. JPMorgan Chase & Co. lowered their price target on Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a report on Monday, May 19th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Edison International in a report on Thursday, August 21st. Eight research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $71.15.

Edison International Profile

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.

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