Bleakley Financial Group LLC Purchases 992 Shares of Consolidated Edison Inc $ED

Bleakley Financial Group LLC boosted its position in Consolidated Edison Inc (NYSE:ED) by 7.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,599 shares of the utilities provider’s stock after acquiring an additional 992 shares during the period. Bleakley Financial Group LLC’s holdings in Consolidated Edison were worth $1,465,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ED. ATLAS Infrastructure Partners UK Ltd. bought a new position in Consolidated Edison in the first quarter valued at about $254,205,000. Deutsche Bank AG boosted its holdings in Consolidated Edison by 130.6% in the first quarter. Deutsche Bank AG now owns 3,926,814 shares of the utilities provider’s stock valued at $434,266,000 after acquiring an additional 2,223,959 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Consolidated Edison by 106.9% in the first quarter. JPMorgan Chase & Co. now owns 2,790,876 shares of the utilities provider’s stock valued at $308,643,000 after acquiring an additional 1,441,785 shares during the last quarter. Nuveen LLC bought a new position in Consolidated Edison in the first quarter valued at about $146,073,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Consolidated Edison by 215.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,688,480 shares of the utilities provider’s stock valued at $186,730,000 after acquiring an additional 1,152,892 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ED. Mizuho raised their target price on Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Barclays reduced their target price on Consolidated Edison from $107.00 to $105.00 and set an “underweight” rating on the stock in a report on Tuesday. KeyCorp raised their target price on Consolidated Edison from $88.00 to $90.00 and gave the stock an “underweight” rating in a report on Wednesday, October 15th. Evercore ISI began coverage on Consolidated Edison in a report on Tuesday, October 7th. They set an “in-line” rating and a $106.00 target price on the stock. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Consolidated Edison in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, Consolidated Edison presently has an average rating of “Reduce” and a consensus target price of $106.33.

Consolidated Edison Trading Down 0.8%

NYSE:ED opened at $99.99 on Friday. Consolidated Edison Inc has a fifty-two week low of $87.28 and a fifty-two week high of $114.87. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.10 and a quick ratio of 1.01. The stock has a market capitalization of $36.06 billion, a PE ratio of 18.15, a price-to-earnings-growth ratio of 2.81 and a beta of 0.32. The business’s 50-day simple moving average is $99.23 and its 200-day simple moving average is $102.55.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data 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 business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter in the previous year, the business posted $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Sell-side analysts expect that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Wednesday, November 19th will be paid a $0.85 dividend. The ex-dividend date is Wednesday, November 19th. This represents a $3.40 annualized dividend and a yield of 3.4%. Consolidated Edison’s payout ratio 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.