Asset Management One Co. Ltd. Acquires 7,992 Shares of Consolidated Edison Inc $ED

Asset Management One Co. Ltd. increased its position in Consolidated Edison Inc (NYSE:ED) by 4.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 193,663 shares of the utilities provider’s stock after acquiring an additional 7,992 shares during the quarter. Asset Management One Co. Ltd. owned about 0.05% of Consolidated Edison worth $19,434,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ED. ATLAS Infrastructure Partners UK Ltd. purchased a new stake in Consolidated Edison in the 1st quarter worth about $254,205,000. Deutsche Bank AG increased its holdings in Consolidated Edison by 130.6% in the 1st 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 during the last quarter. JPMorgan Chase & Co. increased its holdings in Consolidated Edison by 106.9% in the 1st 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 during the last quarter. Nuveen LLC purchased a new stake in Consolidated Edison in the 1st quarter worth about $146,073,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in Consolidated Edison by 215.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,688,480 shares of the utilities provider’s stock worth $186,730,000 after acquiring an additional 1,152,892 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ED. KeyCorp lifted their price objective on Consolidated Edison from $88.00 to $90.00 and gave the stock an “underweight” rating in a report on Wednesday, October 15th. Bank of America lowered Consolidated Edison from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $112.00 to $101.00 in a report on Friday, August 15th. Mizuho lifted their target price on Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Consolidated Edison in a report on Wednesday, October 8th. Finally, Scotiabank lifted their target price on Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a report on Monday, August 11th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $106.33.

Consolidated Edison Stock Performance

Shares of ED opened at $99.99 on Friday. The company has a market cap of $36.06 billion, a PE ratio of 18.15, a price-to-earnings-growth ratio of 2.79 and a beta of 0.32. The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. The stock has a 50-day moving average price of $99.23 and a 200-day moving average price of $102.53. Consolidated Edison Inc has a 12-month low of $87.28 and a 12-month high of $114.87.

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 analysts’ consensus estimates of $0.66 by $0.01. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.39 billion. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.During the same quarter last year, the company posted $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. As a group, equities analysts forecast that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

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

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.