Aviva PLC Reduces Position in Consolidated Edison Inc $ED

Aviva PLC trimmed its position in Consolidated Edison Inc (NYSE:ED) by 6.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 496,351 shares of the utilities provider’s stock after selling 35,197 shares during the quarter. Aviva PLC owned approximately 0.14% of Consolidated Edison worth $49,809,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ED. ATLAS Infrastructure Partners UK Ltd. acquired a new stake in Consolidated Edison in the first quarter valued at $254,205,000. Deutsche Bank AG increased its holdings in shares of Consolidated Edison by 130.6% in the 1st 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. 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 purchased a new stake in Consolidated Edison during the first quarter worth approximately $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 purchasing an additional 1,152,892 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Ratings Changes

ED has been the topic of several recent analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Consolidated Edison in a research note on Wednesday. Wells Fargo & Company raised shares of Consolidated Edison to a “hold” rating in a research report on Tuesday, October 28th. Morgan Stanley lifted their price target on shares of Consolidated Edison from $93.00 to $100.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 22nd. Bank of America downgraded shares of Consolidated Edison from a “buy” rating to an “underperform” rating and decreased their price objective for the company from $112.00 to $101.00 in a research note on Friday, August 15th. Finally, Mizuho lifted their target price on Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $105.08.

Consolidated Edison Stock Up 1.5%

Shares of NYSE:ED opened at $98.43 on Friday. The stock has a market cap of $35.50 billion, a P/E ratio of 17.86, a P/E/G ratio of 2.70 and a beta of 0.32. The firm has a fifty day moving average price of $98.74 and a 200 day moving average price of $101.59. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.10 and a quick ratio of 1.01. Consolidated Edison Inc has a 1-year low of $87.28 and a 1-year high of $114.87.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, November 6th. The utilities provider reported $1.90 EPS for the quarter, beating 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%. The business had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $4.22 billion. During the same period in the prior year, the company earned $1.68 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. Sell-side analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders 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 annualized dividend and a yield of 3.5%. Consolidated Edison’s dividend payout ratio is currently 59.44%.

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.