Hartford Investment Management Co. Has $2.18 Million Stock Position in Consolidated Edison Inc $ED

Hartford Investment Management Co. grew its stake in Consolidated Edison Inc (NYSE:ED) by 2.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,728 shares of the utilities provider’s stock after buying an additional 616 shares during the period. Hartford Investment Management Co.’s holdings in Consolidated Edison were worth $2,180,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ED. ATLAS Infrastructure Partners UK Ltd. acquired a new stake in shares of Consolidated Edison in the first quarter worth about $254,205,000. Deutsche Bank AG lifted 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 worth $434,266,000 after buying an additional 2,223,959 shares during the last quarter. JPMorgan Chase & Co. lifted 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 worth $308,643,000 after buying an additional 1,441,785 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Consolidated Edison in the first quarter worth about $146,073,000. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of 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 worth $186,730,000 after buying an additional 1,152,892 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Price Performance

NYSE ED opened at $99.63 on Friday. Consolidated Edison Inc has a twelve month low of $87.28 and a twelve month high of $114.87. 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 stock has a market capitalization of $35.93 billion, a PE ratio of 18.08, a P/E/G ratio of 2.77 and a beta of 0.28. The stock has a 50-day simple moving average of $100.30 and a 200 day simple moving average of $103.54.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $3.39 billion. During the same period 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. Research analysts anticipate that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Wednesday, August 13th were paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.4%. The ex-dividend date was Wednesday, August 13th. Consolidated Edison’s payout ratio is currently 61.71%.

Analyst Ratings Changes

ED has been the subject of a number of analyst reports. KeyCorp reaffirmed an “overweight” rating on shares of Consolidated Edison in a research report on Wednesday, July 16th. Scotiabank boosted their price target on Consolidated Edison from $101.00 to $106.00 and gave the stock a “sector perform” rating in a research report on Monday, August 11th. Mizuho boosted their price objective on Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Bank of America cut Consolidated Edison from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $112.00 to $101.00 in a research report on Friday, August 15th. Finally, Barclays boosted their price objective on Consolidated Edison from $101.00 to $107.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 13th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Consolidated Edison presently has a consensus rating of “Hold” and an average price target of $105.91.

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.