Consolidated Edison Inc $ED Shares Sold by Korea Investment CORP

Korea Investment CORP lowered its holdings in Consolidated Edison Inc (NYSE:ED) by 15.6% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 217,520 shares of the utilities provider’s stock after selling 40,349 shares during the period. Korea Investment CORP’s holdings in Consolidated Edison were worth $21,828,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. ATLAS Infrastructure Partners UK Ltd. purchased a new position in Consolidated Edison in the 1st quarter valued at approximately $254,205,000. Deutsche Bank AG raised its stake in shares of Consolidated Edison by 130.6% in the first quarter. Deutsche Bank AG now owns 3,926,814 shares of the utilities provider’s stock valued at $434,266,000 after acquiring an additional 2,223,959 shares in the last quarter. Vanguard Group Inc. raised its stake 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 valued at $4,519,845,000 after acquiring an additional 1,923,717 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Consolidated Edison by 106.9% in the first quarter. JPMorgan Chase & Co. now owns 2,790,876 shares of the utilities provider’s stock valued at $308,643,000 after purchasing an additional 1,441,785 shares during the period. Finally, Nuveen LLC acquired a new position in Consolidated Edison during the 1st quarter worth $146,073,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Stock Performance

Shares of Consolidated Edison stock opened at $100.43 on Friday. 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 52 week low of $87.28 and a 52 week high of $114.87. The firm’s 50 day moving average is $99.75 and its two-hundred day moving average is $100.63. The firm has a market capitalization of $36.25 billion, a P/E ratio of 18.23, a P/E/G ratio of 2.70 and a beta of 0.32.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, November 6th. The utilities provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.14. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. During the same period in the previous year, the business posted $1.68 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. Research analysts forecast that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Wednesday, November 19th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.4%. Consolidated Edison’s dividend payout ratio (DPR) is presently 59.44%.

Analyst Ratings Changes

A number of research firms have issued reports on ED. Bank of America lowered Consolidated Edison from a “buy” rating to an “underperform” rating and reduced their price target for the company from $112.00 to $101.00 in a research report on Friday, August 15th. New Street Research set a $106.00 target price on shares of Consolidated Edison in a report on Monday, October 6th. Wells Fargo & Company upgraded shares of Consolidated Edison to a “hold” rating in a report on Tuesday, October 28th. Barclays dropped their price objective on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a research report on Monday, November 10th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $98.00 price objective on shares of Consolidated Edison in a research report on Thursday, November 20th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $104.58.

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.