Candriam S.C.A. Has $8.14 Million Stake in Consolidated Edison Inc $ED

Candriam S.C.A. grew its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 2.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 81,146 shares of the utilities provider’s stock after acquiring an additional 2,074 shares during the period. Candriam S.C.A.’s holdings in Consolidated Edison were worth $8,143,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Consolidated Edison by 1.6% during 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 purchasing an additional 661,432 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Consolidated Edison by 6.1% during the 2nd quarter. Geode Capital Management LLC now owns 9,796,782 shares of the utilities provider’s stock worth $979,204,000 after buying an additional 566,358 shares in the last quarter. 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 1st 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 during the period. Deutsche Bank AG grew 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 buying an additional 2,223,959 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Consolidated Edison by 106.9% in the 1st 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 in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ED has been the topic of several research analyst reports. KeyCorp increased their target price on shares of Consolidated Edison from $88.00 to $90.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 15th. Wells Fargo & Company upgraded shares of Consolidated Edison to a “hold” rating in a report on Tuesday, October 28th. Mizuho raised their target price on Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Scotiabank boosted their target price on Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a research report on Monday, August 11th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Consolidated Edison in a report on Tuesday. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, Consolidated Edison currently has a consensus rating of “Reduce” and an average target price of $104.75.

Consolidated Edison Stock Up 0.6%

Shares of NYSE ED opened at $101.60 on Friday. 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 company has a 50-day moving average price of $98.97 and a 200-day moving average price of $101.27. The stock has a market capitalization of $36.67 billion, a P/E ratio of 18.44, a P/E/G ratio of 2.70 and a beta of 0.32. Consolidated Edison Inc has a 1 year low of $87.28 and a 1 year high of $114.87.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, November 6th. The utilities provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.14. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. During the same period last year, the firm posted $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. On average, equities research analysts forecast that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Wednesday, November 19th. Consolidated Edison’s dividend payout ratio (DPR) is currently 59.44%.

Consolidated Edison 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.