Jupiter Asset Management Ltd. Buys 20,500 Shares of Consolidated Edison Inc $ED

Jupiter Asset Management Ltd. lifted its position in Consolidated Edison Inc (NYSE:ED) by 4.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 455,028 shares of the utilities provider’s stock after purchasing an additional 20,500 shares during the quarter. Jupiter Asset Management Ltd. owned about 0.13% of Consolidated Edison worth $45,662,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ED. Capital Advisors Ltd. LLC increased its stake in Consolidated Edison by 53.2% in the 2nd 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. Financial Network Wealth Advisors LLC bought a new position in shares of Consolidated Edison during the 1st quarter valued at approximately $33,000. Cary Street Partners Investment Advisory LLC grew its holdings in shares of Consolidated Edison by 64.9% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 120 shares in the last quarter. Bogart Wealth LLC increased its position in Consolidated Edison by 886.5% in the second quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 328 shares during the last quarter. Finally, SJS Investment Consulting Inc. raised its stake in Consolidated Edison by 1,677.3% during the second quarter. SJS Investment Consulting Inc. now owns 391 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 369 shares in the last quarter. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Stock Performance

Shares of Consolidated Edison stock opened at $99.53 on Wednesday. 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 stock’s fifty day moving average is $98.79 and its two-hundred day moving average is $101.34. 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 $35.90 billion, a PE ratio of 18.06, a price-to-earnings-growth ratio of 2.70 and a beta of 0.32.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, November 6th. The utilities provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.14. The firm had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.22 billion. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. During the same period in the previous year, the firm earned $1.68 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. As a group, analysts expect that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Wednesday, November 19th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Wednesday, November 19th. Consolidated Edison’s dividend payout ratio is currently 59.44%.

Analysts Set New Price Targets

Several analysts have recently issued reports on ED shares. Evercore ISI assumed 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 on the stock. KeyCorp raised their price objective on Consolidated Edison from $88.00 to $90.00 and gave the company an “underweight” rating in a research note on Wednesday, October 15th. Bank of America downgraded Consolidated Edison from a “buy” rating to an “underperform” rating and cut their target price for the company from $112.00 to $101.00 in a research report on Friday, August 15th. Weiss Ratings restated a “buy (b-)” rating on shares of Consolidated Edison in a report on Wednesday, November 5th. Finally, Morgan Stanley lifted their price objective on shares of Consolidated Edison from $93.00 to $100.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 22nd. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, Consolidated Edison has a consensus rating of “Reduce” and an average price target of $104.75.

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.