Consolidated Edison Inc $ED Shares Sold by Kraematon Investment Advisors Inc.

Kraematon Investment Advisors Inc. trimmed its position in Consolidated Edison Inc (NYSE:ED) by 1.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,194 shares of the utilities provider’s stock after selling 108 shares during the period. Kraematon Investment Advisors Inc.’s holdings in Consolidated Edison were worth $822,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. ATLAS Infrastructure Partners UK Ltd. acquired a new stake in shares of Consolidated Edison in the first quarter worth approximately $254,205,000. Deutsche Bank AG boosted its stake 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 shares of Consolidated Edison by 106.9% during the first quarter. JPMorgan Chase & Co. now owns 2,790,876 shares of the utilities provider’s stock worth $308,643,000 after buying an additional 1,441,785 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Consolidated Edison in the first quarter valued at about $146,073,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Consolidated Edison by 215.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,688,480 shares of the utilities provider’s stock worth $186,730,000 after buying an additional 1,152,892 shares in the last quarter. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Trading Up 1.2%

Shares of Consolidated Edison stock opened at $98.83 on Friday. The stock has a 50 day moving average of $99.95 and a 200 day moving average of $103.26. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.10. The firm has a market capitalization of $35.64 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 2.75 and a beta of 0.32. Consolidated Edison Inc has a fifty-two week low of $87.28 and a fifty-two week high of $114.87.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, August 7th. The utilities provider reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate 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 earned $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. As a group, research analysts predict that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th were given a dividend of $0.85 per share. The ex-dividend date was Wednesday, August 13th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.4%. Consolidated Edison’s dividend payout ratio (DPR) is currently 61.71%.

Analysts Set New Price Targets

Several analysts recently issued reports on ED shares. Bank of America cut shares of Consolidated Edison from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $112.00 to $101.00 in a research note on Friday, August 15th. Barclays boosted their target price on Consolidated Edison from $101.00 to $107.00 and gave the stock an “underweight” rating in a report on Wednesday, August 13th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Consolidated Edison in a report on Saturday, September 27th. Scotiabank lifted their price objective 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, Morgan Stanley dropped their target price on Consolidated Edison from $95.00 to $93.00 and set an “underweight” rating for the company in a report on Thursday, September 25th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Consolidated Edison 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.