Consolidated Edison Inc $ED Shares Acquired by Jump Financial LLC

Jump Financial LLC lifted its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 72.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 118,285 shares of the utilities provider’s stock after acquiring an additional 49,614 shares during the period. Jump Financial LLC’s holdings in Consolidated Edison were worth $13,081,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ED. Deutsche Bank AG raised its position in shares of Consolidated Edison by 130.6% during the 1st quarter. Deutsche Bank AG now owns 3,926,814 shares of the utilities provider’s stock worth $434,266,000 after acquiring an additional 2,223,959 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Consolidated Edison by 106.9% during the 1st quarter. JPMorgan Chase & Co. now owns 2,790,876 shares of the utilities provider’s stock worth $308,643,000 after acquiring an additional 1,441,785 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Consolidated Edison during the 1st quarter worth about $146,073,000. Price T Rowe Associates Inc. MD raised its position in shares of 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. Finally, GAMMA Investing LLC raised its position in shares of Consolidated Edison by 15,937.5% during the 1st quarter. GAMMA Investing LLC now owns 1,022,073 shares of the utilities provider’s stock worth $113,031,000 after acquiring an additional 1,015,700 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on ED. Mizuho lifted 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. Guggenheim lifted 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. KeyCorp reaffirmed an “overweight” rating on shares of Consolidated Edison in a research report on Wednesday, July 16th. Morgan Stanley cut their price target on Consolidated Edison from $93.00 to $92.00 and set an “underweight” rating on the stock in a research report on Wednesday, June 18th. Finally, Barclays lifted 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. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $105.82.

Consolidated Edison Trading Up 0.1%

Shares of ED stock opened at $101.5520 on Friday. The business’s 50 day moving average is $101.54 and its two-hundred day moving average is $103.76. Consolidated Edison Inc has a twelve month low of $87.28 and a twelve month high of $114.87. The company has a market capitalization of $36.62 billion, a P/E ratio of 18.43, a price-to-earnings-growth ratio of 2.83 and a beta of 0.24. The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share for the quarter, beating 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 last year, the business posted $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Equities analysts forecast that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

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

Consolidated Edison Company Profile

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.