Consolidated Edison Inc $ED Holdings Raised by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. lifted its position in shares of Consolidated Edison Inc (NYSE:ED) by 4.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 201,438 shares of the utilities provider’s stock after acquiring an additional 7,775 shares during the period. Asset Management One Co. Ltd. owned about 0.06% of Consolidated Edison worth $20,249,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Consolidated Edison by 4.5% during the second quarter. Vanguard Group Inc. now owns 45,040,811 shares of the utilities provider’s stock valued at $4,519,845,000 after acquiring an additional 1,923,717 shares during the period. Geode Capital Management LLC boosted its stake in Consolidated Edison by 6.1% during 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 purchasing an additional 566,358 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Consolidated Edison by 1.0% during 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 valued at $538,437,000 after purchasing an additional 48,323 shares during the period. Norges Bank acquired a new position in shares of Consolidated Edison during the 2nd quarter valued at $462,218,000. Finally, ATLAS Infrastructure Partners UK Ltd. raised its stake in shares of Consolidated Edison by 4.8% in the 2nd quarter. ATLAS Infrastructure Partners UK Ltd. now owns 2,409,288 shares of the utilities provider’s stock worth $241,772,000 after buying an additional 110,666 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ED. Morgan Stanley set a $92.00 target price on Consolidated Edison in a research note on Tuesday, December 16th. Barclays cut their price target on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a report on Monday, November 10th. 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 price objective for the company. KeyCorp dropped their target price on shares of Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating on the stock in a report on Friday, December 12th. Finally, Wells Fargo & Company raised 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 five have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $102.54.

Consolidated Edison Price Performance

ED stock opened at $98.55 on Tuesday. Consolidated Edison Inc has a one year low of $87.28 and a one year high of $114.87. The firm has a 50-day moving average of $98.74 and a two-hundred day moving average of $99.76. The firm has a market capitalization of $35.57 billion, a PE ratio of 17.23, a P/E/G ratio of 2.73 and a beta of 0.39. The company has a current ratio of 1.08, a quick ratio of 0.97 and a debt-to-equity ratio of 1.03.

Consolidated Edison (NYSE:ED) last released its quarterly 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. 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 for the quarter, compared to analyst estimates of $4.22 billion. During the same quarter in the previous year, the business earned $1.68 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. On average, analysts forecast that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

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

Insider Buying and Selling at Consolidated Edison

In related news, Director John F. Killian sold 2,276 shares of the company’s 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 transaction, the director directly owned 38,661 shares of the company’s stock, valued at approximately $3,745,864.29. The trade was a 5.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.17% of the company’s stock.

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.