Nordea Investment Management AB Acquires 2,027 Shares of Consolidated Edison Inc $ED

Nordea Investment Management AB raised its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 11.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 19,850 shares of the utilities provider’s stock after buying an additional 2,027 shares during the period. Nordea Investment Management AB’s holdings in Consolidated Edison were worth $1,973,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of ED. Vanguard Group Inc. boosted its holdings in shares of Consolidated Edison by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 43,117,094 shares of the utilities provider’s stock worth $4,768,319,000 after buying an additional 661,432 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of 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 worth $538,437,000 after purchasing an additional 48,323 shares during the period. Deutsche Bank AG lifted its holdings in Consolidated Edison by 130.6% during the 1st quarter. Deutsche Bank AG now owns 3,926,814 shares of the utilities provider’s stock worth $434,266,000 after purchasing an additional 2,223,959 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Consolidated Edison by 106.9% in 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. bought a new position in Consolidated Edison during the 1st quarter worth $254,205,000. 66.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ED. New Street Research set a $106.00 target price on shares of Consolidated Edison in a research report on Monday, October 6th. Mizuho raised their price objective on Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Morgan Stanley upped their target price on Consolidated Edison from $93.00 to $100.00 and gave the company an “underweight” rating in a research report on Wednesday. Scotiabank raised their price target on Consolidated Edison from $101.00 to $106.00 and gave the stock a “sector perform” rating in a research report on Monday, August 11th. Finally, Barclays cut their price objective on shares of Consolidated Edison from $107.00 to $105.00 and set an “underweight” rating for the company in a research report on Tuesday. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $106.33.

Consolidated Edison Price Performance

Shares of ED stock opened at $101.95 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.10 and a debt-to-equity ratio of 1.04. Consolidated Edison Inc has a twelve month low of $87.28 and a twelve month high of $114.87. The company has a market cap of $36.77 billion, a P/E ratio of 18.50, a P/E/G ratio of 2.83 and a beta of 0.32. The business has a fifty day simple moving average of $99.29 and a 200 day simple moving average of $102.62.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. The firm had revenue of $3.60 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the business posted $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. On average, sell-side analysts forecast that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Wednesday, November 19th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $3.40 annualized dividend and a yield of 3.3%. Consolidated Edison’s dividend payout ratio is presently 61.71%.

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.