Consolidated Edison Inc $ED Shares Bought by Tectonic Advisors LLC

Tectonic Advisors LLC lifted its position in Consolidated Edison Inc (NYSE:ED) by 9.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 79,883 shares of the utilities provider’s stock after acquiring an additional 6,754 shares during the quarter. Tectonic Advisors LLC’s holdings in Consolidated Edison were worth $8,016,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Consolidated Edison by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 43,117,094 shares of the utilities provider’s stock worth $4,768,319,000 after purchasing an additional 661,432 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Consolidated Edison by 1.0% in the 1st 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 last quarter. Deutsche Bank AG lifted its holdings in shares of Consolidated Edison by 130.6% in 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. lifted its holdings in shares of Consolidated Edison by 106.9% in the 1st quarter. JPMorgan Chase & Co. now owns 2,790,876 shares of the utilities provider’s stock worth $308,643,000 after purchasing an additional 1,441,785 shares during the last quarter. Finally, ATLAS Infrastructure Partners UK Ltd. bought a new stake in shares of Consolidated Edison in the 1st quarter worth approximately $254,205,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Up 0.8%

Shares of Consolidated Edison stock opened at $100.80 on Thursday. Consolidated Edison Inc has a 1-year low of $87.28 and a 1-year high of $114.87. 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 business’s fifty day moving average price is $99.83 and its two-hundred day moving average price is $103.13. The company has a market capitalization of $36.35 billion, a P/E ratio of 18.29, a PEG ratio of 2.78 and a beta of 0.32.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.67 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 company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the previous year, the business 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 EPS for the current year.

Consolidated Edison Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Wednesday, August 13th were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Wednesday, August 13th. Consolidated Edison’s payout ratio is currently 61.71%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ED shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Consolidated Edison in a report on Wednesday. New Street Research set a $106.00 price target on Consolidated Edison in a report on Monday. Morgan Stanley cut their target price on Consolidated Edison from $95.00 to $93.00 and set an “underweight” rating on the stock in a research note on Thursday, September 25th. Mizuho lifted 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, Bank of America downgraded Consolidated Edison from a “buy” rating to an “underperform” rating and cut their target price for the company from $112.00 to $101.00 in a research note on Friday, August 15th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $105.75.

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.