Johnson Investment Counsel Inc. Purchases 165 Shares of Consolidated Edison Inc $ED

Johnson Investment Counsel Inc. lifted its position in Consolidated Edison Inc (NYSE:ED) by 1.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 14,574 shares of the utilities provider’s stock after acquiring an additional 165 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Consolidated Edison were worth $1,463,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings 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 position in 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 acquiring an additional 48,323 shares in the last quarter. Deutsche Bank AG grew its position in 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 acquiring an additional 2,223,959 shares in the last quarter. JPMorgan Chase & Co. grew its position in 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 acquiring an additional 1,441,785 shares in the last quarter. Finally, ATLAS Infrastructure Partners UK Ltd. purchased a new position in Consolidated Edison in the first quarter worth about $254,205,000. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Stock Down 1.5%

Shares of NYSE:ED opened at $100.85 on Tuesday. Consolidated Edison Inc has a 1 year low of $87.28 and a 1 year high of $114.87. The business has a 50 day simple moving average of $99.64 and a two-hundred day simple moving average of $102.94. The firm has a market capitalization of $36.37 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 2.85 and a beta of 0.32. 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 (NYSE:ED) last announced its 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 business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same quarter in the previous year, the business earned $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. On average, equities analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms recently commented on ED. Scotiabank lifted 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. Evercore ISI began coverage on Consolidated Edison in a research report on Tuesday, October 7th. They issued an “in-line” rating and a $106.00 price target for the company. KeyCorp reiterated an “overweight” rating on shares of Consolidated Edison in a research report on Wednesday, July 16th. Bank of America lowered Consolidated Edison from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $112.00 to $101.00 in a research report on Friday, August 15th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Consolidated Edison in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $105.75.

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.