UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Buys 48,323 Shares of Consolidated Edison Inc $ED

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Consolidated Edison Inc (NYSE:ED) by 1.0% during the first quarter, HoldingsChannel reports. The fund owned 4,868,772 shares of the utilities provider’s stock after acquiring an additional 48,323 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC’s holdings in Consolidated Edison were worth $538,437,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of ED. Revolve Wealth Partners LLC increased its holdings in Consolidated Edison by 13.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock valued at $332,000 after buying an additional 441 shares during the period. Ameriprise Financial Inc. increased its holdings in Consolidated Edison by 1.7% in the 4th quarter. Ameriprise Financial Inc. now owns 198,994 shares of the utilities provider’s stock valued at $17,767,000 after buying an additional 3,275 shares during the period. Ensign Peak Advisors Inc increased its holdings in Consolidated Edison by 8.4% in the 4th quarter. Ensign Peak Advisors Inc now owns 61,405 shares of the utilities provider’s stock valued at $5,479,000 after buying an additional 4,742 shares during the period. Focus Partners Wealth increased its holdings in Consolidated Edison by 124.5% in the 4th quarter. Focus Partners Wealth now owns 55,114 shares of the utilities provider’s stock valued at $5,020,000 after buying an additional 30,560 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in Consolidated Edison by 2.4% in the 4th quarter. Janus Henderson Group PLC now owns 55,734 shares of the utilities provider’s stock valued at $4,972,000 after buying an additional 1,294 shares during the period. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

Shares of ED stock opened at $97.00 on Wednesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.10 and a quick ratio of 1.01. The stock has a market cap of $34.98 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 2.69 and a beta of 0.28. The stock has a 50-day moving average of $101.07 and a 200-day moving average of $103.96. 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, August 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same period in the prior year, the business earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. As a group, sell-side analysts expect that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Wednesday, August 13th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, August 13th. Consolidated Edison’s dividend payout ratio is presently 61.71%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ED shares. Scotiabank boosted their target price on shares of Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a research note on Monday, August 11th. Morgan Stanley restated an “underweight” rating on shares of Consolidated Edison in a research note on Thursday, August 21st. Bank of America downgraded shares of Consolidated Edison from a “buy” rating to an “underperform” rating and reduced their target price for the company from $112.00 to $101.00 in a research note on Friday, August 15th. Mizuho upped their price target on shares of Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Finally, Barclays upped their price target on shares of Consolidated Edison from $101.00 to $107.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 13th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $105.82.

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.