Jupiter Asset Management Ltd. Increases Stake in Consolidated Edison Inc $ED

Jupiter Asset Management Ltd. lifted its position in Consolidated Edison Inc (NYSE:ED) by 4.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 455,028 shares of the utilities provider’s stock after acquiring an additional 20,500 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Consolidated Edison were worth $45,662,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC raised its holdings in shares of Consolidated Edison by 53.2% in the 2nd 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 in the last quarter. Financial Network Wealth Advisors LLC bought a new position in shares of Consolidated Edison during the first quarter valued at approximately $33,000. Cary Street Partners Investment Advisory LLC increased its holdings in Consolidated Edison by 64.9% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider’s stock valued at $34,000 after buying an additional 120 shares during the period. Bogart Wealth LLC raised its stake in Consolidated Edison by 886.5% in the second quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock worth $37,000 after buying an additional 328 shares in the last quarter. Finally, SJS Investment Consulting Inc. lifted its holdings in Consolidated Edison by 1,677.3% during the second quarter. SJS Investment Consulting Inc. now owns 391 shares of the utilities provider’s stock worth $39,000 after buying an additional 369 shares during the period. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Trading Up 1.3%

NYSE ED opened at $99.53 on Wednesday. Consolidated Edison Inc has a 12-month low of $87.28 and a 12-month high of $114.87. The company has a fifty day simple moving average of $98.79 and a two-hundred day simple moving average of $101.34. The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. The stock has a market cap of $35.90 billion, a P/E ratio of 18.06, a P/E/G ratio of 2.70 and a beta of 0.32.

Consolidated Edison (NYSE:ED) last released 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 return on equity of 8.56% and a net margin of 11.98%.The firm had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same period in the prior year, the firm earned $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. On average, analysts forecast that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors 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 dividend on an annualized basis and a dividend yield of 3.4%. Consolidated Edison’s payout ratio is 59.44%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Bank of America lowered Consolidated Edison from a “buy” rating to an “underperform” rating and reduced their price target for the stock from $112.00 to $101.00 in a research report on Friday, August 15th. Weiss Ratings restated a “buy (b-)” rating on shares of Consolidated Edison in a report on Wednesday, November 5th. Morgan Stanley lifted their price objective on shares of Consolidated Edison from $93.00 to $100.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 22nd. Barclays reduced their price objective on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a research note on Monday. Finally, Wells Fargo & Company upgraded shares of Consolidated Edison to a “hold” rating in a research note on Tuesday, October 28th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $104.75.

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.