Aberdeen Group plc Purchases 53,064 Shares of Consolidated Edison Inc $ED

Aberdeen Group plc grew its position in Consolidated Edison Inc (NYSE:ED) by 11.5% in the second quarter, HoldingsChannel.com reports. The firm owned 512,548 shares of the utilities provider’s stock after acquiring an additional 53,064 shares during the period. Aberdeen Group plc’s holdings in Consolidated Edison were worth $51,434,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ED. Blue Trust Inc. boosted its position in shares of Consolidated Edison by 18.7% during the second quarter. Blue Trust Inc. now owns 3,889 shares of the utilities provider’s stock worth $390,000 after acquiring an additional 614 shares during the last quarter. Monument Capital Management boosted its position in shares of Consolidated Edison by 8.4% during the second quarter. Monument Capital Management now owns 5,749 shares of the utilities provider’s stock worth $577,000 after acquiring an additional 446 shares during the last quarter. Callan Family Office LLC boosted its position in shares of Consolidated Edison by 218.2% during the second quarter. Callan Family Office LLC now owns 6,529 shares of the utilities provider’s stock worth $655,000 after acquiring an additional 4,477 shares during the last quarter. Blair William & Co. IL boosted its position in shares of Consolidated Edison by 2.6% during the second quarter. Blair William & Co. IL now owns 27,823 shares of the utilities provider’s stock worth $2,792,000 after acquiring an additional 718 shares during the last quarter. Finally, Capital Advisors Ltd. LLC boosted its position in shares of Consolidated Edison by 53.2% during the second quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 109 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ED. Evercore ISI began coverage on shares of Consolidated Edison in a research report on Tuesday, October 7th. They set an “in-line” rating and a $106.00 target price for the company. New Street Research set a $106.00 target price on shares of Consolidated Edison in a research report on Monday, October 6th. Morgan Stanley dropped their target price on shares of Consolidated Edison from $95.00 to $93.00 and set an “underweight” rating for the company in a research report on Thursday, September 25th. KeyCorp reiterated an “overweight” rating on shares of Consolidated Edison in a research report on Wednesday, July 16th. Finally, Scotiabank increased their price objective on shares of Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a research report on Monday, August 11th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $105.75.

Consolidated Edison Price Performance

ED stock opened at $102.36 on Friday. Consolidated Edison Inc has a 52 week low of $87.28 and a 52 week high of $114.87. The firm has a market capitalization of $36.92 billion, a P/E ratio of 18.58, a price-to-earnings-growth ratio of 2.85 and a beta of 0.32. 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 company has a fifty day simple moving average of $99.73 and a two-hundred day simple moving average of $103.03.

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

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Wednesday, August 13th were paid a $0.85 dividend. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $3.40 annualized dividend and a dividend yield of 3.3%. Consolidated Edison’s dividend payout ratio is currently 61.71%.

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.