Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group Has $738,000 Holdings in Consolidated Edison Inc $ED

Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group lessened its stake in shares of Consolidated Edison Inc (NYSE:ED) by 39.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,350 shares of the utilities provider’s stock after selling 4,807 shares during the period. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group’s holdings in Consolidated Edison were worth $738,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in ED. AG2R LA Mondiale Gestion D Actifs acquired a new stake in Consolidated Edison during the 1st quarter valued at $1,631,000. GAMMA Investing LLC raised its stake in Consolidated Edison by 45.0% during the 1st quarter. GAMMA Investing LLC now owns 9,242 shares of the utilities provider’s stock valued at $1,022,000 after purchasing an additional 2,869 shares during the period. RDA Financial Network acquired a new stake in Consolidated Edison during the 2nd quarter valued at $367,000. Bessemer Group Inc. raised its position in Consolidated Edison by 2.2% during the first quarter. Bessemer Group Inc. now owns 6,596 shares of the utilities provider’s stock valued at $729,000 after buying an additional 144 shares during the period. Finally, Wesbanco Bank Inc. raised its position in Consolidated Edison by 39.8% during the second quarter. Wesbanco Bank Inc. now owns 11,305 shares of the utilities provider’s stock valued at $1,134,000 after buying an additional 3,218 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Trading Down 0.8%

NYSE:ED opened at $99.99 on Monday. The stock’s 50 day moving average price is $99.23 and its 200 day moving average price is $102.50. Consolidated Edison Inc has a 52 week low of $87.28 and a 52 week high of $114.87. The company has a market capitalization of $36.06 billion, a P/E ratio of 18.15, a P/E/G ratio of 2.78 and a beta of 0.32. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.10.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 EPS for the quarter, topping 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 company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same quarter in the prior year, the business posted $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. On average, research analysts forecast that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Wednesday, November 19th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, November 19th. Consolidated Edison’s dividend payout ratio is presently 61.71%.

Analyst Ratings Changes

ED has been the topic of several recent analyst reports. Mizuho upped their price target on Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Bank of America downgraded Consolidated Edison from a “buy” rating to an “underperform” rating and dropped their target price for the company from $112.00 to $101.00 in a report on Friday, August 15th. Barclays dropped their target price on Consolidated Edison from $107.00 to $105.00 and set an “underweight” rating on the stock in a report on Tuesday, October 21st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Consolidated Edison in a research note on Wednesday, October 8th. Finally, Scotiabank upped 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 note on Monday, August 11th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $106.33.

About Consolidated Edison

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.