Acadian Asset Management LLC Has $32.02 Million Stake in Consolidated Edison Inc $ED

Acadian Asset Management LLC boosted its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 26.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 319,168 shares of the utilities provider’s stock after buying an additional 67,359 shares during the period. Acadian Asset Management LLC owned about 0.09% of Consolidated Edison worth $32,024,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. ATLAS Infrastructure Partners UK Ltd. bought a new stake in Consolidated Edison in the first quarter valued at about $254,205,000. Deutsche Bank AG grew its stake in shares of Consolidated Edison by 130.6% in the 1st quarter. Deutsche Bank AG now owns 3,926,814 shares of the utilities provider’s stock valued at $434,266,000 after purchasing an additional 2,223,959 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of 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 buying an additional 1,441,785 shares in the last quarter. Nuveen LLC bought a new position in shares of Consolidated Edison during the 1st quarter worth approximately $146,073,000. Finally, Price T Rowe Associates Inc. MD boosted its stake 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 valued at $186,730,000 after buying an additional 1,152,892 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

Consolidated Edison stock opened at $98.29 on Tuesday. The company has a market cap of $35.45 billion, a PE ratio of 17.84, a PEG ratio of 2.70 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. Consolidated Edison Inc has a 1 year low of $87.28 and a 1 year high of $114.87. The company’s 50-day moving average is $98.74 and its two-hundred day moving average is $101.42.

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

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.5%. Consolidated Edison’s dividend payout ratio is 59.44%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ED shares. Morgan Stanley lifted their price objective on Consolidated Edison from $93.00 to $100.00 and gave the company an “underweight” rating in a report on Wednesday, October 22nd. Bank of America downgraded shares of Consolidated Edison from a “buy” rating to an “underperform” rating and cut their price target for the company from $112.00 to $101.00 in a report on Friday, August 15th. New Street Research set a $106.00 price target on shares of Consolidated Edison in a research report on Monday, October 6th. Evercore ISI began coverage on shares of Consolidated Edison in a report on Tuesday, October 7th. They set an “in-line” rating and a $106.00 price objective for the company. Finally, Wells Fargo & Company upgraded shares of Consolidated Edison to a “hold” rating in a research note on Tuesday, October 28th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $104.75.

Consolidated Edison 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.