Eastern Bank Has $412,000 Stock Holdings in Consolidated Edison Inc $ED

Eastern Bank decreased its holdings in Consolidated Edison Inc (NYSE:ED) by 4.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,104 shares of the utilities provider’s stock after selling 190 shares during the period. Eastern Bank’s holdings in Consolidated Edison were worth $412,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ED. ATLAS Infrastructure Partners UK Ltd. bought a new position in shares of Consolidated Edison in the 1st quarter valued at $254,205,000. Deutsche Bank AG increased its stake 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 valued at $434,266,000 after purchasing an additional 2,223,959 shares during the last quarter. JPMorgan Chase & Co. increased its stake 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 valued at $308,643,000 after purchasing an additional 1,441,785 shares during the last quarter. Nuveen LLC bought a new position in shares of Consolidated Edison in the 1st quarter valued at $146,073,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Consolidated Edison by 215.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,688,480 shares of the utilities provider’s stock valued at $186,730,000 after purchasing an additional 1,152,892 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. KeyCorp reiterated an “overweight” rating on shares of Consolidated Edison in a research note on Wednesday, July 16th. Bank of America lowered Consolidated Edison from a “buy” rating to an “underperform” rating and decreased their price target for the company from $112.00 to $101.00 in a research note on Friday, August 15th. Barclays boosted their price objective on Consolidated Edison from $101.00 to $107.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 13th. Scotiabank boosted 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, Mizuho boosted their price objective on Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $105.75.

Consolidated Edison Trading Up 1.5%

NYSE ED opened at $102.36 on Monday. The business’s 50-day moving average price is $99.73 and its two-hundred day moving average price is $103.00. Consolidated Edison Inc has a 12 month low of $87.28 and a 12 month high of $114.87. The firm has a market capitalization of $36.92 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 2.85 and a beta of 0.32. The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04.

Consolidated Edison (NYSE:ED) last released its quarterly 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. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same quarter in the previous year, the company posted $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. On average, analysts expect that Consolidated Edison Inc will post 5.62 EPS 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 $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Wednesday, August 13th. Consolidated Edison’s payout ratio is 61.71%.

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.