American Century Companies Inc. Has $16.81 Million Stock Position in Consolidated Edison Inc $ED

American Century Companies Inc. cut its stake in shares of Consolidated Edison Inc (NYSE:ED) by 36.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 167,508 shares of the utilities provider’s stock after selling 94,651 shares during the period. American Century Companies Inc.’s holdings in Consolidated Edison were worth $16,810,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ED. Capital Advisors Ltd. LLC boosted 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 valued at $32,000 after purchasing an additional 109 shares during the period. Financial Network Wealth Advisors LLC bought a new position in Consolidated Edison during the 1st quarter worth $33,000. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Consolidated Edison by 64.9% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider’s stock worth $34,000 after buying an additional 120 shares in the last quarter. Bogart Wealth LLC boosted its position in shares of Consolidated Edison by 886.5% in the second quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 328 shares during the period. Finally, SJS Investment Consulting Inc. grew its stake in shares of Consolidated Edison by 1,677.3% in the second quarter. SJS Investment Consulting Inc. now owns 391 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 369 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Consolidated Edison in a research note on Monday. New Street Research set a $106.00 price target on shares of Consolidated Edison in a research report on Monday, October 6th. Evercore ISI initiated coverage on Consolidated Edison in a research note on Tuesday, October 7th. They issued an “in-line” rating and a $106.00 price target for the company. Mizuho increased their price target on Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $98.00 price objective on shares of Consolidated Edison in a report on Thursday, November 20th. Three equities 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. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $104.58.

Consolidated Edison Price Performance

Shares of NYSE:ED opened at $96.95 on Wednesday. The company has a market cap of $34.99 billion, a price-to-earnings ratio of 16.95, a PEG ratio of 2.84 and a beta of 0.37. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.08 and a quick ratio of 0.97. The firm has a 50 day simple moving average of $99.74 and a 200 day simple moving average of $100.56. Consolidated Edison Inc has a one year low of $87.28 and a one year high of $114.87.

Consolidated Edison (NYSE:ED) last posted its 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 12.27% and a return on equity of 8.79%. During the same quarter in the previous year, the firm earned $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. Research analysts predict that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The company 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 $0.85 dividend. The ex-dividend date is Wednesday, November 19th. This represents a $3.40 annualized dividend and a yield of 3.5%. Consolidated Edison’s dividend payout ratio (DPR) is currently 59.44%.

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.