Consolidated Edison Inc $ED Shares Acquired by Norinchukin Bank The

Norinchukin Bank The grew its position in Consolidated Edison Inc (NYSE:ED) by 16.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 19,422 shares of the utilities provider’s stock after acquiring an additional 2,752 shares during the quarter. Norinchukin Bank The’s holdings in Consolidated Edison were worth $2,148,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Monashee Investment Management LLC acquired a new position in shares of Consolidated Edison in the 1st quarter valued at about $1,659,000. CW Advisors LLC lifted its stake in shares of Consolidated Edison by 86.7% in the 1st quarter. CW Advisors LLC now owns 20,182 shares of the utilities provider’s stock valued at $2,217,000 after purchasing an additional 9,371 shares in the last quarter. Summit Financial LLC acquired a new position in shares of Consolidated Edison in the 1st quarter valued at about $317,000. United Asset Strategies Inc. lifted its position in Consolidated Edison by 46.5% during the 1st quarter. United Asset Strategies Inc. now owns 9,459 shares of the utilities provider’s stock worth $1,046,000 after acquiring an additional 3,004 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Consolidated Edison by 215.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,688,480 shares of the utilities provider’s stock worth $186,730,000 after acquiring an additional 1,152,892 shares in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Price Performance

ED stock opened at $101.5520 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.10 and a debt-to-equity ratio of 1.04. Consolidated Edison Inc has a 52-week low of $87.28 and a 52-week high of $114.87. The stock’s 50 day moving average is $101.54 and its two-hundred day moving average is $103.71. The company has a market capitalization of $36.62 billion, a PE ratio of 18.43, a P/E/G ratio of 2.82 and a beta of 0.24.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.01. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the previous year, the business earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Analysts predict that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th will be issued a dividend of $0.85 per share. The ex-dividend date is Wednesday, August 13th. This represents a $3.40 annualized dividend and a yield of 3.3%. Consolidated Edison’s payout ratio is currently 61.71%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ED shares. Guggenheim boosted their price target on Consolidated Edison from $96.00 to $103.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Wells Fargo & Company boosted their price target on Consolidated Edison from $103.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Friday, May 2nd. Barclays boosted their price target on Consolidated Edison from $101.00 to $107.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 13th. Mizuho boosted their price target on Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Finally, Scotiabank boosted their price target on Consolidated Edison from $101.00 to $106.00 and gave the stock a “sector perform” rating in a research report on Monday, August 11th. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $105.82.

About Consolidated Edison

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.