ASR Vermogensbeheer N.V. Purchases 13,791 Shares of Consolidated Edison Inc $ED

ASR Vermogensbeheer N.V. grew its position in shares of Consolidated Edison Inc (NYSE:ED) by 15.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 101,139 shares of the utilities provider’s stock after acquiring an additional 13,791 shares during the period. ASR Vermogensbeheer N.V.’s holdings in Consolidated Edison were worth $10,149,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Consolidated Edison by 1.6% during the first quarter. Vanguard Group Inc. now owns 43,117,094 shares of the utilities provider’s stock valued at $4,768,319,000 after purchasing an additional 661,432 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Consolidated Edison by 1.0% during the first 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 buying an additional 48,323 shares during the period. Deutsche Bank AG boosted its holdings in shares of Consolidated Edison by 130.6% during the 1st quarter. Deutsche Bank AG now owns 3,926,814 shares of the utilities provider’s stock valued at $434,266,000 after buying an additional 2,223,959 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Consolidated Edison by 106.9% during the 1st quarter. JPMorgan Chase & Co. now owns 2,790,876 shares of the utilities provider’s stock valued at $308,643,000 after buying an additional 1,441,785 shares in the last quarter. Finally, ATLAS Infrastructure Partners UK Ltd. purchased a new stake in shares of Consolidated Edison in the 1st quarter worth about $254,205,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

ED stock opened at $97.62 on Friday. The stock’s 50 day simple moving average is $100.01 and its 200 day simple moving average is $103.36. 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 12-month low of $87.28 and a 12-month high of $114.87. The stock has a market capitalization of $35.21 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 2.73 and a beta of 0.32.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, August 7th. The utilities provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.39 billion. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.During the same quarter last year, the company earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. As a group, research analysts forecast that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th were paid a dividend of $0.85 per share. The ex-dividend date was Wednesday, August 13th. This represents a $3.40 annualized dividend and a yield of 3.5%. Consolidated Edison’s dividend payout ratio is currently 61.71%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ED. Bank of America cut shares of Consolidated Edison from a “buy” rating to an “underperform” rating and lowered their price target for the company from $112.00 to $101.00 in a research report on Friday, August 15th. Morgan Stanley decreased their target price on shares of Consolidated Edison from $95.00 to $93.00 and set an “underweight” rating for the company in a research note on Thursday, September 25th. Barclays boosted their price target on Consolidated Edison from $101.00 to $107.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 13th. KeyCorp reaffirmed an “overweight” rating on shares of Consolidated Edison in a research report on Wednesday, July 16th. Finally, Mizuho lifted their price objective on Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Consolidated Edison currently has a consensus rating of “Hold” and a consensus price target of $105.91.

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.