Asset Management One Co. Ltd. Purchases 7,992 Shares of Consolidated Edison Inc $ED

Asset Management One Co. Ltd. increased its position in Consolidated Edison Inc (NYSE:ED) by 4.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 193,663 shares of the utilities provider’s stock after buying an additional 7,992 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Consolidated Edison were worth $19,434,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ED. Capital Advisors Ltd. LLC lifted its position in Consolidated Edison by 53.2% in the second quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 109 shares during the last quarter. Fort Vancouver Investment Management LLC bought a new stake in Consolidated Edison in the first quarter valued at approximately $33,000. Financial Network Wealth Advisors LLC bought a new stake in Consolidated Edison in the first quarter valued at approximately $33,000. Cary Street Partners Investment Advisory LLC lifted its position in Consolidated Edison by 64.9% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 120 shares during the last quarter. Finally, Bogart Wealth LLC lifted its position in Consolidated Edison by 886.5% in the second quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 328 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of ED stock opened at $99.99 on Friday. The stock has a market cap of $36.06 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 2.79 and a beta of 0.32. The business’s fifty day moving average is $99.23 and its 200 day moving average is $102.53. Consolidated Edison Inc has a twelve month low of $87.28 and a twelve month high of $114.87. 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 (NYSE:ED) last issued its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.01. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.The company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same period in the prior year, the firm earned $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Research analysts expect that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Wednesday, November 19th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $3.40 dividend on an annualized basis and a yield of 3.4%. Consolidated Edison’s dividend payout ratio is currently 61.71%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ED. KeyCorp boosted their price objective on Consolidated Edison from $88.00 to $90.00 and gave the company an “underweight” rating in a research report on Wednesday, October 15th. Evercore ISI began coverage on Consolidated Edison in a research report on Tuesday, October 7th. They issued an “in-line” rating and a $106.00 price objective for the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Consolidated Edison in a research note on Wednesday, October 8th. Mizuho boosted their target price on Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Finally, Barclays reduced their target price on Consolidated Edison from $107.00 to $105.00 and set an “underweight” rating on the stock in a research note on Tuesday. Three 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. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $106.33.

About Consolidated Edison

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.