Family Office Research LLC Makes New Investment in Consolidated Edison Inc $ED

Family Office Research LLC purchased a new stake in Consolidated Edison Inc (NYSE:ED) during the 1st quarter, HoldingsChannel reports. The firm purchased 1,830 shares of the utilities provider’s stock, valued at approximately $202,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Consolidated Edison by 1.6% in the first 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Consolidated Edison by 6.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,820,449 shares of the utilities provider’s stock valued at $430,129,000 after purchasing an additional 271,088 shares during the last quarter. Deutsche Bank AG grew its position in shares of 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 purchasing an additional 2,223,959 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of 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 purchasing an additional 1,441,785 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Consolidated Edison by 2.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,271,594 shares of the utilities provider’s stock valued at $251,216,000 after purchasing an additional 45,605 shares during the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Stock Up 0.1%

Shares of ED opened at $98.30 on Tuesday. The stock has a market cap of $35.45 billion, a price-to-earnings ratio of 17.84, a P/E/G ratio of 2.73 and a beta of 0.28. The company has a quick ratio of 1.01, a current ratio of 1.10 and a debt-to-equity ratio of 1.04. Consolidated Edison Inc has a 12 month low of $87.28 and a 12 month high of $114.87. The company has a 50-day moving average price of $101.30 and a two-hundred day moving average price of $103.96.

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

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Wednesday, August 13th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. 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 currently 61.71%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Bank of America downgraded Consolidated Edison from a “buy” rating to an “underperform” rating and lowered their price target for the company from $112.00 to $101.00 in a research report on Friday, August 15th. Barclays raised their price target on Consolidated Edison from $101.00 to $107.00 and gave the company an “underweight” rating in a research report on Wednesday, August 13th. Mizuho increased their target price on shares of Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Morgan Stanley reiterated an “underweight” rating on shares of Consolidated Edison in a research note on Thursday, August 21st. Finally, KeyCorp reiterated an “overweight” rating on shares of Consolidated Edison in a research note on Wednesday, July 16th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Consolidated Edison presently has an average rating of “Hold” and an average target price of $105.82.

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.