Diversified Trust Co Boosts Stock Position in Consolidated Edison Inc $ED

Diversified Trust Co raised its holdings in Consolidated Edison Inc (NYSE:ED) by 17.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 46,017 shares of the utilities provider’s stock after acquiring an additional 6,796 shares during the quarter. Diversified Trust Co’s holdings in Consolidated Edison were worth $4,626,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Consolidated Edison by 4.5% in the second quarter. Vanguard Group Inc. now owns 45,040,811 shares of the utilities provider’s stock worth $4,519,845,000 after purchasing an additional 1,923,717 shares during the last quarter. Geode Capital Management LLC boosted its position in Consolidated Edison by 6.1% in the 2nd quarter. Geode Capital Management LLC now owns 9,796,782 shares of the utilities provider’s stock valued at $979,204,000 after buying an additional 566,358 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Consolidated Edison by 1.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,868,772 shares of the utilities provider’s stock worth $538,437,000 after acquiring an additional 48,323 shares in the last quarter. Norges Bank purchased a new position in shares of Consolidated Edison during the second quarter worth approximately $462,218,000. Finally, ATLAS Infrastructure Partners UK Ltd. raised its stake in shares of Consolidated Edison by 4.8% during the second quarter. ATLAS Infrastructure Partners UK Ltd. now owns 2,409,288 shares of the utilities provider’s stock valued at $241,772,000 after acquiring an additional 110,666 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Price Performance

Shares of ED stock opened at $99.39 on Tuesday. The stock’s 50-day moving average is $98.88 and its 200 day moving average is $99.83. Consolidated Edison Inc has a 1-year low of $87.28 and a 1-year high of $114.87. 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 company has a market cap of $35.87 billion, a P/E ratio of 17.38, a PEG ratio of 2.87 and a beta of 0.37.

Consolidated Edison (NYSE:ED) last released its quarterly earnings results on Thursday, November 6th. The utilities provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.76 by $0.14. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.79%. The business had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.22 billion. During the same period in the prior year, the firm posted $1.68 earnings per share. 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 declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Wednesday, November 19th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Wednesday, November 19th. Consolidated Edison’s payout ratio is currently 59.44%.

Insider Activity

In other news, Director John F. Killian sold 2,276 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $96.89, for a total transaction of $220,521.64. Following the completion of the sale, the director owned 38,661 shares in the company, valued at approximately $3,745,864.29. This represents a 5.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on ED. JPMorgan Chase & Co. dropped their price objective on Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating on the stock in a research note on Friday, December 12th. Weiss Ratings restated a “buy (b-)” rating on shares of Consolidated Edison in a research note on Monday, December 22nd. Barclays lowered their price objective on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a research note on Monday, November 10th. 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 target price on the stock. Finally, UBS Group cut their target price on shares of Consolidated Edison from $112.00 to $104.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 17th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, Consolidated Edison has an average rating of “Reduce” and a consensus target price of $102.54.

About Consolidated Edison

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.