15,610 Shares in Consolidated Edison Inc $ED Purchased by AG2R LA Mondiale Gestion D Actifs

AG2R LA Mondiale Gestion D Actifs bought a new position in Consolidated Edison Inc (NYSE:ED) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 15,610 shares of the utilities provider’s stock, valued at approximately $1,631,000.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. grew its stake 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 worth $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 stake in shares of Consolidated Edison by 1.0% in 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 purchasing an additional 48,323 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake 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 worth $430,129,000 after purchasing an additional 271,088 shares during the last quarter. Deutsche Bank AG grew its stake 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 worth $434,266,000 after purchasing an additional 2,223,959 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake 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 worth $308,643,000 after purchasing an additional 1,441,785 shares during the last quarter. 66.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ED shares. KeyCorp reissued an “overweight” rating on shares of Consolidated Edison in a research note on Wednesday, July 16th. Mizuho lifted their price objective on Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Scotiabank lifted their price objective 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. Barclays lifted their price objective on Consolidated Edison from $101.00 to $107.00 and gave the company an “underweight” rating in a research report on Wednesday, August 13th. Finally, Bank of America cut Consolidated Edison from a “buy” rating to an “underperform” rating and cut their price objective for the company from $112.00 to $101.00 in a research report on Friday, August 15th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Consolidated Edison presently has an average rating of “Hold” and a consensus target price of $105.82.

Consolidated Edison Stock Performance

Shares of ED opened at $97.54 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.10 and a debt-to-equity ratio of 1.04. The business’s 50 day moving average price is $100.92 and its 200-day moving average price is $103.90. Consolidated Edison Inc has a 52 week low of $87.28 and a 52 week high of $114.87. The stock has a market cap of $35.18 billion, a P/E ratio of 17.70, a P/E/G ratio of 2.72 and a beta of 0.28.

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

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Wednesday, August 13th will be given a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $3.40 annualized dividend and a yield of 3.5%. Consolidated Edison’s dividend payout ratio is 61.71%.

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.