Strs Ohio Boosts Position in Consolidated Edison Inc $ED

Strs Ohio lifted its stake in shares of Consolidated Edison Inc (NYSE:ED) by 67.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 35,275 shares of the utilities provider’s stock after acquiring an additional 14,162 shares during the period. Strs Ohio’s holdings in Consolidated Edison were worth $3,540,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Consolidated Edison by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 43,117,094 shares of the utilities provider’s stock valued at $4,768,319,000 after buying an additional 661,432 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Consolidated Edison by 1.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,868,772 shares of the utilities provider’s stock worth $538,437,000 after buying an additional 48,323 shares in the last quarter. Deutsche Bank AG grew its position in shares of Consolidated Edison by 130.6% during the first quarter. Deutsche Bank AG now owns 3,926,814 shares of the utilities provider’s stock worth $434,266,000 after buying an additional 2,223,959 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Consolidated Edison by 106.9% during the first quarter. JPMorgan Chase & Co. now owns 2,790,876 shares of the utilities provider’s stock worth $308,643,000 after buying an additional 1,441,785 shares in the last quarter. Finally, ATLAS Infrastructure Partners UK Ltd. acquired a new position in shares of Consolidated Edison during the first quarter worth about $254,205,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Stock Down 0.8%

Consolidated Edison stock opened at $97.44 on Monday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.10. The firm has a market capitalization of $35.14 billion, a price-to-earnings ratio of 17.68, a price-to-earnings-growth ratio of 2.70 and a beta of 0.32. Consolidated Edison Inc has a fifty-two week low of $87.28 and a fifty-two week high of $114.87. The stock’s fifty day moving average is $98.94 and its two-hundred day moving average is $102.04.

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

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Wednesday, November 19th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.5%. Consolidated Edison’s dividend payout ratio (DPR) is presently 61.71%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ED shares. Scotiabank boosted their target price on Consolidated Edison from $101.00 to $106.00 and gave the stock a “sector perform” rating in a research note on Monday, August 11th. KeyCorp boosted their price objective on Consolidated Edison from $88.00 to $90.00 and gave the company an “underweight” rating in a research note on Wednesday, October 15th. Bank of America cut Consolidated Edison from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $112.00 to $101.00 in a research note on Friday, August 15th. Mizuho upped their price target on Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Finally, New Street Research set a $106.00 price objective on Consolidated Edison in a report on Monday, October 6th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $105.08.

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.